August 28, 2018

The Philippine Deposit Insurance Corporation (PDIC) is set to conduct five Depositors – Borrowers Forums (DBFs) for the closed Rural Bank of Luna (Apayao), Inc.

Two DBFs are scheduled on August 29, 2018: 1) Allacapan Branch at 9:00 A.M. at the Allacapan Municipal Gymnasium, Centro West, Allacapan, Cagayan and 2) Buguey Branch at 9:30 A.M. at the Centro Gymnasium, Buguey, Cagayan.

There will also be two DBFs on August 30, 2018: 1) Alcala Branch at 9:30 A.M. at the Alcala Gymnasium, Centro Norte, Alcala, Cagayan and 2) Abulug Branch at 2:00 P.M at the Libertad Elementary School Gymnasium, Brgy. Libertad, Abulug, Cagayan.

The DBF for the Head Office will be on August 31, 2018 at 8:30 A.M at the Bienvenido Verzola Memorial Gymnasium, Brgy. Poblacion, Luna, Apayao.

The requirements and procedures for filing deposit insurance claims and settlement of loans will be explained during the forums.

Rural Bank of Luna (Apayao), Inc. was ordered closed by the Monetary Board (MB) of the Bangko Sentral ng Pilipinas on August 16, 2018.

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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.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.