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PDIC sends help to typhoon victims in Luna, Apayao

October 10, 2018

Touching people’s lives through Corporate Social Responsibility. State deposit insurer Philippine Deposit Insurance Corporation (PDIC) brought donations of hygiene kits, bottled drinking water and medicines to the Provincial Government of Apayao for the relief operations undertaken in September 2018 in Luna, Apayao, one of the towns ravaged by Typhoon Ompong. Apayao Governor Elias Bulut, Jr. and Provincial Administrator Vincent Talattag expressed the province’s gratitude to PDIC citing that it was the first government institution to voluntarily send donations to their constituents. Coinciding with the relief operations was the scheduled claims settlement operations at the Rural Bank of Luna (Apayao), Inc. located at San Isidro Sur, Luna, Apayao, a rural bank taken over by PDIC on August 2018. The timely conduct of the claims settlement operations complemented by the relief operations were PDIC’s share in assisting the affected depositors and families of Luna, Apayao.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is PhP500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

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