The Philippine Deposit Insurance Corporation (PDIC) announced that it will continue to receive and process deposit insurance claims from depositors of the closed Cooperative Bank of Tarlac at the PDIC Claims Counter, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City until October 27, 2016. Claims may also be filed through mail.

The PDIC reported that a total of P154.3 million in insured deposits covering 598 accounts was paid during the onsite claim settlement operations (CSO) while filing of claims for 1,496 accounts representing accounts with balances of P50,000 and below was waived. Payments for these accounts amounting to P4.8 million were made thru postal money orders sent via registered mail. Cooperative Bank of Tarlac, which was ordered closed on October 27, 2014, has P200.5 million in total estimated insured deposits involving 3,856 accounts.

As of November 19, 2014, PDIC has yet to receive deposit insurance claims for P39.4 million covering 1,580 accounts. In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the said bank is on October 27, 2016. After said date, PDIC shall no longer accept any deposit insurance claim.

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. The same set of documents must be enclosed when claims are filed through mail.

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. In the case of a minor depositor, the Special Power of Attorney 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.

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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