The Philippine Deposit Insurance Corporation (PDIC) will start servicing the deposit insurance claims of depositors of the closed Cooperative Rural Bank of Bulacan (CRBB) on July 9, 2013.
Servicing of claims will be conducted at the bank’s Head Office and 17 Branches during the respective payout period of each CRBB banking unit. Depositors must file their deposit insurance claims at the branch where they maintained their deposit accounts. The following is the schedule of payout: Head Office (July 9 to 23); Paombong, Sta. Rosa and Urdaneta Branches (July 9 to 10); San Jose del Monte and Bocaue Branches (July 9 to 12); Makati, Malolos, Malolos – Cabana, Pulilan and Meycauayan Branches (July 9 to 15); and Angat, Balagtas, Baliuag, Bulacan, Cainta, San Miguel and Sta. Maria Branches (July 9 to 17).
Depositors whose accounts have balances of more than P15,000 and those who have outstanding obligations with the CRBB regardless of type of account and account balance are required to file their deposit insurance claims. The announcement on the claims settlement operations of CRBB is also posted at the bank’s premises and on the PDIC website, www.pdic.gov.ph.
On June 14, 2013, PDIC started dispatching total payments amounting to P14.5 million in the form of postal money orders (PMOs), through the Philippine Postal Corporation, to depositors who are not required to file deposit insurance claims. These are depositors who have account balances of P15,000 and below, who have no outstanding obligations with the CRBB, and who have complete and updated addresses in the bank’s records or have updated their addresses using the PDIC Mailing Address Update Form.
When filing deposit insurance claims, depositors are advised to personally present their duly accomplished Claim Form, original evidence of deposit, and two (2) original valid photo-bearing IDs with signature of the depositor. Depositors may also file their claims through mail and enclose the same set of document requirements.
Depositors who are below 18 years old should submit either a photocopy of their Birth Certificate issued by the National Statistics Office (NSO) or a duly certified copy issued by the Local Civil Registrar as an additional requirement. Claimants who are not the signatories in the bank records are required to submit an original copy of a notarized Special Power of Attorney of the depositor or parent of a minor depositor.
The procedures and requirements for the filing of deposit insurance claims are posted in the PDIC website, www.pdic.gov.ph. The Claim Form and pro forma Special Power of Attorney may also be downloaded from the PDIC website.
Depositors of all branches except Head Office who were not able to file their deposit insurance during the payout period, may file their claims at the CRBB – Makati Branch located along Sen. Gil Puyat Avenue (Buendia), Barangay Palanan, Makati City from July 23 to August 6, 2013. Depositors whose accounts are maintained with the Head Office and were unable to file their claims during the payout period may file their claims at CRBB – Makati Branch from July 30 to August 6, 2013.
After August 6, 2013, all depositors may submit their claims either through mail to PDIC or personally at the PDIC Office, 4th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino Street, Makati City.
In accordance with the provisions of the PDIC Charter, the last day for filing deposit insurance claims in the closed Cooperative Rural Bank of Bulacan is on May 25, 2015. After this date, PDIC as Deposit Insurer, shall no longer accept any deposit insurance claim.
The PDIC said that all valid claims will be paid. For deposits to be considered valid, it must be recorded in the bank’s records and must have evidence of inflow of funds, based on the results of PDIC examination. PDIC, as Receiver, has the authority to adjust the insurance rate on the unpaid interest offered by a bank if this is deemed unreasonable.
For more information, depositors may contact the Public Assistance Department at telephone numbers (02) 841-4630 to 31, or e-mail at email@example.com. Depositors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342).