November 3, 2016

Answering the call, going beyond its mandate. The Philippine Deposit Insurance Corporation (PDIC) took over the closed Rural Bank of Luna (Isabela), Inc. in Harana, Luna, Isabela with a lone branch in Sta. Maria, Isabela on October 7, 2016. As they prepare for the payment of deposit insurance claims, PDIC personnel organized the “Tulongan tayu ti Isabela, Apo!” campaign to raise donations for 300 families. In coordination with the local government unit, PDIC conducted relief operations in Brgy. San Antonio, Sta. Maria, Isabela, one of the towns hit by supertyphoon Lawin. PDIC Senior Vice President Romeo M. Mendoza, Jr. (Deposit Insurance Sector) (2nd from right) and Sangguniang Bayan member Felix Keith Y. Taguba (3rd from right) led the relief operations.

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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 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.