TEACHERS. Department of Education Secretary Sonny Angara and Ana Aboitiz-Delgado (right), CitySavings chair, renew their partnership to assist teachers in the Philippines, on February 17, 2025.
Department of Education
When banks tailor financial services to meet their specific needs, teachers gain legitimate credit access, reducing reliance on predatory lenders like 5-6 moneylenders
MANILA, Philippines – For many public school teachers in the Philippines, financial support is often hard to come by. To fill this niche, City Savings Bank (CitySavings) has positioned itself as a financial institution that serves the education sector — and even, occsaionally, provides support beyond banking services.
Through a recent Memorandum of Agreement (MOA) with the Department of Education (DepEd), CitySavings has committed to continuing its initiatives aimed at supporting both teachers and students. While the exact points of the MOA haven’t been shared publicly, the agreement is meant to align with DepEd’s 5-Point Agenda, which focuses on improving learning outcomes and addressing critical gaps in the education sector.
The Aboitiz-affiliated thrift bank’s latest effort includes donating laptops to select DepEd divisions, which is supposed to “advance digitalization efforts and improve learning outcomes in public schools.
“City Savings Bank was founded by my great-grandfather, Don Ramon Aboitiz, together with his trusted business partner, Teotimo Abellana, with a simple vision back then — to serve people of moderate means,” said Ana Aboitiz-Delgado, CitySavings chair and UnionBank president and chief executive officer.

Delgado, a fifth-generation member of the Aboitiz family, took the helm of CitySavings’ parent company UnionBank earlier in 2024, stepping up after over two decades in the family bank. For the rising heir, banks should do more than just offer financial products.
“At Aboitiz, everything we do is anchored in our values and our greater purpose. We applaud DepEd for its commitment to improving the quality of education in our country, and rest assured that we in CitySavings and the whole Aboitiz Group are equally committed to enabling teachers and learners to reach their full potential,” she said in a press release.
DepEd Secretary Sonny Angara acknowledged the bank’s role in the teaching community in his remarks during the MOA signing. Angara also recognized the bank’s efforts in financial literacy initiatives and its participation in National Teachers’ Month and other DepEd events.
“City Savings Bank has long been a trusted partner not just in banking, but in nation-building,” he said. “Through your financial literacy programs, affordable loans, as well as your support during National Teachers’ Month and other DepEd events, we have felt your commitment that goes beyond profit.”
A bank for teachers
CitySavings’ partnership with DepEd is, of course, also a reflection of the bank’s deep business ties with the teaching community. Teacher salary loans are a cornerstone of the bank’s business, offering educators access to credit when needed. Teachers can borrow up to P2 million, with interest rates varying based on loan tenure and a 6% bank charge on the total loan amount. The loan can be repaid over a period ranging from 12 to 60 months.
CitySavings also launched its Loan Ranger app in mid-2023, which allows public school teachers to check their loan balances and reapply for loans digitally. During its launch, the bank said that over 170,000 teachers and DepEd employees had signed up to use the platform.
“Through the years, we have been focused on our beloved teachers, serving their needs as we aim to be a teacher’s bank of choice,” CitySavings president and CEO, Manuel Santiago, Jr. said, “Since 2008, we have partnered with DepEd to provide relevant, accessible, and sustainable corporate social responsibility programs.”
CitySavings has leveraged its close ties with the teaching community to become the fourth-largest thrift bank in the Philippines, with P158.9 billion in total assets. It ranks behind PSBank (P217.0 billion), Chinabank Savings (P183.7 billion), and Philippine Business Bank (P161.7 billion). The bank now operates over 140 branches nationwide.
Beyond teacher salary loans, the thrift bank also offers pension loans for GSIS and SSS retirees, motorcycle loans, government salary loans, AFP and BFP salary loans, AFP pension loans for retired personnel and legal beneficiaries, as well as savings, checking, and time deposit products.
Thrift banks like CitySavings play an important role in bridging the gap between the broad financial services offered by big universal banks and the specific needs of underserved customer groups. By tailoring financial services to the needs of specific customers, they help drive financial inclusion and ensure that individuals who might otherwise be locked out of the formal banking system have access to legitimate credit options. This can prevent already vulnerable customers from resorting to predatory lenders like 5-6 moneylenders, who charge exorbitant interest rates.
UnionDigital Bank, the digital banking arm of UnionBank, is exploring a similar approach by developing “configurable” loan products that allow borrowers to adjust loan terms to shorter durations. This could help sari-sari store owners and palengke (wet market) vendors, who could use short-term financing to buy supplies in the morning, sell their goods throughout the day, and repay the loan immediately after. – Rappler.com
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