The Philippine Deposit Insurance Corporation (PDIC), the Receiver of the closed Cooperative Rural Bank of Bulacan, reminded borrowers of the bank to continue to pay their loans and transact only with authorized PDIC representatives.

In a statement, PDIC advised borrowers of the Cooperative Rural Bank of Bulacan to pay their loans and other obligations directly at any Philippine National Bank (PNB) Branch under account name, PDIC FAO BURL COOPERATIVE RURAL BANK OF BULACAN, INC. with Reference Number 373-094900013. The Receiver cautioned borrowers that it has discontinued the engagement of the bank’s collectors. PDIC has not engaged any person to collect the loans of the bank. To ensure proper recording of payments made by borrowers, it further advised borrowers to keep copies of the PNB Deposit/Payment Slips. The Receiver emphasized that only payments with validated PNB Deposit/Payment Slips shall be considered valid payments. The latest records based on documents gathered by the Receiver showed that there are 45,379 loan accounts maintained with the Cooperative Rural Bank of Bulacan.

The Monetary Board (MB) placed the Cooperative Rural Bank of Bulacan under the receivership of the PDIC by virtue of MB Resolution No. 823.A dated May 23, 2013. As Receiver, PDIC took over the bank on May 24, 2013. Upon takeover, all bank records shall be gathered, verified and validated.

Cooperative Rural Bank of Bulacan is an 18-unit bank with Head Office located in Banga I, Plaridel Bulacan. It has 13 branches in Bulacan (Angat, Balagtas, Baliuag, Bocaue, Bulacan, Malolos, Malolos-Cabanas, Meycauayan, Paombong, Pulilan, San Jose del Monte City, San Miguel and Sta. Maria); and a branch each in Urdaneta (Pangasinan), Cainta (Rizal), Sta. Rosa (Laguna) and Makati (a microfinance-oriented branch). According to the latest Bank Information Sheet (BIS) as of December 31, 2012 filed by the Cooperative Rural Bank of Bulacan with the PDIC, the bank is majority-owned by Crb Employees Credit Coop (39.74%) and United Coop Bankers Coop (34.77%). Its Chairman is Isidoro C. Santos and its President/CEO is Reynaldo C. Capalad.

Borrowers of the bank may also communicate with the PDIC – Loans Management Department II at (02) 841-4774 or 841-4776. Queries may also be sent through email at pad@pdic.gov.ph.