June 28, 2016

Communicating with depositors via social media. Philippine Deposit Insurance Corporation (PDIC) President Cristina Que Orbeta (second from left) and Governance Commission for GOCCs (GCG) Commissioner and Officer-in-Charge Ma. Angela E. Ignacio (leftmost) launch PDIC's Facebook page and Twitter account during its 53rd founding anniversary on June 23, 2016 at the PDIC Office in Makati City. With them are (from left) PDIC Directors Protacio T. Tacandong and Rogelio W. Manalo. The launching of the social media accounts is in line with PDIC's strategic direction to promote public awareness on deposit insurance and heighten financial literacy of the depositing public.

The Philippine Deposit Insurance Corporation (PDIC) launched its official Facebook page, www.facebook.com/OfficialPDIC, and Twitter account, @OfficialPDIC, to actively engage the public, address the information needs of depositors and increase public awareness on deposit insurance to promote depositor protection and financial stability.

PDIC President Cristina Que Orbeta, Governance Commission for GOCCs (GCG) Commissioner and Officer-in-Charge Ma. Angela E. Ignacio, and PDIC Directors Rogelio W. Manalo and Protacio T. Tacandong led the launching of PDIC's Facebook page and Twitter account on June 23, 2016 during the Corporation's 53rd founding anniversary and the culmination of the observance of the 14th Depositor Protection and Awareness Week.

The state deposit insurer said its social media presence aims to provide an accessible venue for the public, especially the depositing public, to learn more about the benefits and limitations of deposit insurance and increase public awareness on PDIC's initiatives to promote depositor protection, financial literacy and financial inclusion. It also complements the PDIC website (www.pdic.gov.ph.) in informing the public about PDIC, its mandates, services, programs and activities.

The launch of the social media accounts is aligned with the PDIC's strategic direction to heighten public engagement and help depositors make responsible and informed financial decisions. It is consistent with the Core Principles for Effective Deposit Insurance Systems, which recognizes the importance of informing the public on an ongoing basis about the deposit insurance system and its benefits and limitations using various communication tools such as the digital media through the use of a website and social media accounts.

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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 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.