The Philippine Deposit Insurance Corporation (PDIC) will start the claims servicing operations (CSO) for the closed Rural Bank of Naguilian (La Union), Inc. at the designated payout sites on September 12, 2012.

PDIC will conduct the CSO for the Head Office at the bank’s premises located along Naguilian Highway, Natividad, Naguilian, La Union from September 12 to October 4, 2012. The CSO for the bank’s San Fernando Branch will be held from September 12 to 21, 2012 at the branch located in San Fernando City, La Union.

Depositors who have aggregate account balances of P10,000 and below are not required to file their deposit insurance claims provided their addresses in the bank’s records are complete and updated; and they have no outstanding obligations with RB Naguilian. Meanwhile, depositors whose accounts have balances of above P10,000 are required to file their claims on their respective appointment dates.

PDIC will start issuing Control Numbers to depositors on September 11, 2012 at the designated payout sites. The Control Number corresponds to a specific appointment date when PDIC representative will service the claims of depositors. To secure a Control Number, depositors are required to present their evidence of deposit. The appointment dates, requirements and procedures for filing deposit insurance claims are posted at the designated payout sites and on the PDIC website, www.pdic.gov.ph. On their respective appointment dates, depositors will be issued queuing numbers, on a first come-first serve basis, to ensure an orderly CSO. Claims filed during the specified appointment dates will be processed onsite and if found to be valid and with complete requirements, will also be paid onsite.

Depositors who are issued Control Numbers beyond the schedule of appointment dates may also file their claims with PDIC representatives during the CSO. However, their claims will be processed at the PDIC Home Office in Makati City and notice of payment of their insured deposits or documentary deficiencies will be sent through mail.

Depositors who were not be able to file their claims during the CSO period may submit their claims through mail to PDIC or personally at the PDIC Claims Counter, 4th Floor, SSS Bldg., Ayala Ave. corner V.A. Rufino St. Makati City starting on October 15, 2012 from Monday to Friday, 8:00 a.m. to 5:00 p.m.

When filing deposit insurance claims, depositors are advised to mail or present their duly accomplished Claim Forms and Claim Status Sheets (CSS), original and photocopy of the evidence of deposit, and original and photocopy of two (2) valid IDs with signature of the depositor.

Depositors below 18 years old are required to submit either a photocopy of their Birth Certificates issued by the National Statistics Office (NSO) or a duly certified copy issued by the Local Civil Registrar and valid IDs of any of their parents as an additional documentary requirement. Claimants who are not the signatories in the bank records are required to bring an original copy of a notarized Special Power of Attorney (SPA) issued by the depositor or parent of a minor depositor. The Claim Form, CSS and format of the SPA may be downloaded from the PDIC website.

In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in RB Naguilian is on June 30, 2014. After the said date, PDIC, as deposit insurer, shall no longer accept deposit insurance claims for the said bank.

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.

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 permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 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.