CitySavings empowers teachers through financial discipline
Since it was founded back in 1965, City Savings Bank (CitySavings) has been true to its founders’ vision of “helping people of moderate means”. From sari-sari store vendors, to jeepney drivers or to public school teachers, the bank has helped fulfill dreams through simple financial products and straightforward banking services. Today, the bank is regularly thanked by teachers for helping them send their children to school or build their homes through the loans that they avail.
However, the sad reality today is despite the financial assistance through loans, the goal of securing a financially stable future remains a challenge. To address this, CitySavings has intensified its advocacy on financial discipline through its signature Corporate Social Responsibility (CSR) initiative, Project ₱er@parasyon (Peraparasyon), a practical wealth management program for public school teachers and non-teaching personnel from the Department of Education (DepEd). This initiative is also in line as the whole nation celebrates National Teachers’ Month from September 5 to October 5.
Across the country, the bank actively teaches simple steps on saving, investing and managing debt. “It’s a fruitful and productive session. I came to realize that the key to achieve financial freedom is to handle our finances wisely. Savings must come first rather than too much spending. I’m now more determined to save early in preparation for my family’s future” shared Maylene Baldovino from Adlas Elementary School in Silang, Cavite.
“It was a very informative seminar on utilizing one’s financial means. My key takeaway was learning that expenditures like a loan can be turned into assets once used in investments like education or setting up a business” mentioned Rancy Balitar from Hoyo Elementary School also in Silang, Cavite.
Florie Jean Marco from San Pablo Central Elementary School in San Pablo, Zamboanga del Sur is grateful for the opportunity to learn more about managing her finances. “Thank you CitySavings for empowering us. It is indeed nerve-racking to think how crucial it is to prepare financially but with Peraparasyon I know we can plan well. May you empower and educate others who are in need” added Marco at the conclusion of the session she attended.
To date, the bank has conducted more than 320 Project ₱er@parasyon (Peraparasyon) sessions to over 32,600 educators. According to the Bangko Sentral ng Pilipinas (BSP), promoting financial education and consumer protection is a shared responsibility among financial institutions, the BSP and consumers. With this CitySavings continues make banking more convenient and accessible to bring greater financial inclusion and to advance business and communities.
