THE PHILIPPINE POSTAL SAVINGS BANK is a government thrift bank created with a special mission to encourage savings and provide access to financial credit to the ‘unbanked’ areas of the country.
As a government depository bank, and generating other resources from its operation as a full-service savings bank, the PostalBank aims to make available, especially to the rural sector, much needed capital to spur economic development in the countryside. It also aims to encourage savings among rural families, inculcating the value of thrift into the Filipino psyche, especially among the young people.
This explains why the Philippine Postal Corporation is at the forefront of this vision, through its thrift bank subsidiary, the Philippine Postal Savings Bank.
The PostalBank has been setting up branch offices all over the country in an effort to expand its outreach capability in the rural communities. Moreover, it will implement, for the first time, the concept of tapping Philpost’s 1,900 Post Offices located in all municipalities to form part of the national campaign to mobilize funds in the rural sector. Initially serving as conduits for the marketing and sales promotions activities of PostalBank, these postal stations will eventually serve as “banking offices”, thereby creating the largest network of at-your-doorstep branch offices among all banking institutions.
Within the next five years, the PostalBank aims to become a major government financial institution with the ability to make an impact economic development in the Philippine countryside.