Savings Mobilization

Savings

Taytay, Rizal, being a first class municipality near Manila, is populated with small and medium businesses. Naturally inclined to entrepreneurship, natives of Taytay prioritize their businesses above anything else, making them mostly unavailable for other activities outside their business premises.

This is how the idea of a Savings Officer was conceptualized by the rural bank. Instead of savers coming to the bank to deposit, the bank goes to them. Each day, the Savings Officer goes from one business to another to collect the savers’ deposit for the day. He then remits the amount collected to the bank.

This practice is still implemented in the Taytay Branch. However, RBI is looking towards implementing the same strategy to its other branches in the near future.