“[…] Using BSP’s Basic Deposit Framework circular as guide, Cebuana Lhuillier Rural Bank has simplified the process of opening a savings account by requiring only one valid ID and a P50 initial deposit. The micro savngs account can be accessed in any of Cebuana Lhuillier’s 2,500 branches nationwide.
[…] Guided by its mission to convert Filipinos into instant Iponaryos, Cebuana Lhuillier also set out to conduct year-round financial wellness cascades nationwide, led by its 8,000-strong workforce. To date, more than 500 Iponaryo cascades have been conducted in various parts of the Philippines, with over 100,000 attendees and counting from various communities, schools, and universities, government agencies and NGOs, and other organizations.
Source: No longer unbanked: 3 million Filipinos now have micro savings accounts
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