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Thursday, February 29, 2024

Palawan farmers and fisherfolk learn to manage their money and income through BDO Network Bank’s financial education initiatives

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Palawan farmers and fisherfolk learn to manage their money and income through BDO Network Bank’s financial education initiatives

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BDO Network Bank (BDONB) has conducted financial education training sessions for farmers and fishermen in Bgy. Ipilan, Brooke’s Point, Palawan to raise awareness on the importance of saving for their future.

BDONB, the community banking arm of BDO Unibank, just opened a branch in the area and now serves individuals and micro, small, and medium enterprises (MSMEs) with financial solutions appropriate to their needs.

The Bank shared the importance of saving and proper money management to help residents and business owners improve their livelihoods.

“Farmers and fisherfolk are essential to the local economy, so we go to barangays to conduct community day and financial education programs. We want their livelihoods to flourish and be financially stable,” explained BDO Network Bank President Jesus Antonio S. Itchon.

Some of the critical pieces of advice given by the Bank were:

Saving and having a bank account are essential. A Savings Account allows them to set aside income for an emergency fund to be prepared for unexpected events like disasters, illness, or sudden job loss.

BDONB account holders also have the opportunity to apply for other products and services tailored to their needs, such as Negosyante Loan, salary loans, home loans, auto loans, micro-insurance, and more.

It is vital to seize opportunities for progress. Modern tools and technology are necessary to enhance the effectiveness of farming or fishing. Additional funding can help them acquire equipment without selling or pawning properties.

For instance, BDONB offers Negosyante Loan to entrepreneurs needing extra capital to pursue their business plans. The loan amount ranges from PHP 30,000 to PHP 500,000, with a manageable repayment process for borrowers.

For more details about BDO Network Bank’s products and services, you can visit the nearest BDO Network Bank branch in your area, access the BDO Network Bank website (https://www.bdonetworkbank.com.ph), or send a direct message to the BDO Network Bank Official Facebook Page (https://www.facebook.com/BDONetworkBankPH).