The Philippine Deposit Insurance Corporation (PDIC) announced that it will continue to receive and process deposit insurance claims from depositors of the closed Cavite Rural Banking Corporation at the PDIC Claims Counter, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City. Claims may also be filed through mail.

PDIC conducted the onsite claims settlement operations (CSO) for the closed Cavite Rural Banking Corporation at the bank's Head Office and branches, and completed the CSO on May 22, 2014.

PDIC sent notices of payment amounting to P9.62 million involving 1,020 accounts. Filing of claims for these accounts with balances of P50,000 and below is waived by PDIC. Meanwhile, PDIC paid 476 claims during the onsite CSO involving 334 accounts for a total amount of P54.56 million deposits.

As of May 22, 2014, PDIC has yet to receive deposit insurance claims for 77 accounts that require the filing of claims. The total amount of deposits covered by these outstanding accounts is P5.80 million.

When filing deposit insurance claims, depositors are advised to personally present their duly accomplished Claim Form, original evidence of deposit, and two (2) valid photo-bearing IDs with signature of the depositor. Depositors may also file their claims through mail and enclose the same set of document requirements.

Depositors with valid deposit accounts with balances of P50,000.00 and below need not file deposit insurance claims. But depositors who have outstanding obligations with Cavite Rural Banking Corporation including co-makers of the obligations, and have incomplete and/or have not updated their addresses with the bank, regardless of amount, should file deposit insurance claims.

Depositors who are below 18 years old should submit either a photocopy of their Birth Certificate issued by the National Statistics Office (NSO) 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 (SPA). In the case of a minor depositor, the SPA must be executed by the parent.

The procedures and requirements for filing deposit insurance claims are posted in the PDIC website, www.pdic.gov.ph. The Claim Form and format of the Special Power of Attorney may also be downloaded from the PDIC website.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed Cavite Rural Banking Corporation is on May 9, 2016. After said date, PDIC, as Deposit Insurer, shall no longer accept any deposit insurance claim.

For more information, depositors may contact the Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail at pad@pdic.gov.ph. Depositors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342).

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