NEWS/PRESS RELEASE
PR-160-19
Date of Release: November 7, 2019
FOR IMMEDIATE RELEASE

The Philippine Deposit Insurance Corporation (PDIC) announced that depositors of the closed Rural Bank of Larena (Siquijor), Inc. who have not filed their claims for deposit insurance may do so at the PDIC Public Assistance Center, 3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City until October 11, 2021. Claims may also be filed by mail addressed to the PDIC Public Assistance Department, 6th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City.

When filing deposit insurance claims at the PDIC Public Assistance Center, depositors are required to submit directly to PDIC their original evidence of deposit and present one (1) valid photo-bearing ID with signature of the depositor. It is recommended, however, to bring at least two (2) valid IDs in case of discrepancies in signature. Depositors may also file their claims through mail and enclose their original evidence of deposit and photocopy of one (1) valid photo-bearing ID with signature together with a duly accomplished and notarized Claim Form which can be downloaded from the PDIC website, www.pdic.gov.ph. PDIC reminds depositors to deal only with PDIC authorized officers.

Depositors who are below 18 years old should submit either a photocopy of their Birth Certificate issued by the Philippine Statistics Authority (PSA) or a duly certified copy issued by the Local Civil Registrar as an additional requirement, with the Claim Form signed by the parent. Claimants who are not the signatories in the bank records are required to submit an original copy of a notarized Special Power of Attorney. In the case of a minor depositor, the Special Power of Attorney must be executed by the parent. The format of the Special Power of Attorney may be downloaded from the PDIC website.

In addition, all depositors who have outstanding loans or payables to the bank have to coordinate with the duly authorized PDIC Loans Officer prior to the settlement of their deposit insurance claim.

The procedures and requirements for filing deposit insurance claims are likewise posted in the PDIC website.

PDIC, as Deposit Insurer, requires personal data from depositors to be able to process their claims and protects these data in compliance with the Data Privacy Act of 2012.

Rural Bank of Larena was ordered closed by the Monetary Board through Resolution No. 1570.A dated October 10, 2019. It is a single-unit rural bank located on Bonifacio Street, Brgy. North Poblacion, Larena, Siquijor.

For more information, depositors may contact the Public Assistance Department at telephone number (02) 8841-4141, or e-mail PDIC at pad@pdic.gov.ph. Depositors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-7342 (PDIC). Inquiries may also be sent to the official PDIC Facebook account at www.facebook.com/OfficialPDIC.

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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.

Corporate Communications Dept.
PHILIPPINE DEPOSIT INSURANCE CORPORATION
Tel: (02) 8841-4636 to 39
Trunkline: (02) 8841-4000
Website: www.pdic.gov.ph.
Email: ccd@pdic.gov.ph
Facebook: www.facebook.com/OfficialPDIC
Twitter: www.twitter.com/OfficialPDIC