On February 28, Cebuana Lhuillier launched Micro Savings , an easier, more affordable, accessible, and convenient way for every Filipino...
On February 28, Cebuana Lhuillier launched Micro Savings, an easier, more affordable, accessible, and convenient way for every Filipino to save, during the #KayaNa Financial Inclusion Forum.
Held at the New World Hotel in Makati City, the #KayaNa Financial Inclusion Forum was attended by VIP guests, Cebuana Lhuillier executives, media partners, and bloggers. The highlight of the financial forum was the keynote speech delivered by Senator Chiz Escudero and the unveiling of Cebuana Lhuillier's Micro Savings.
Micro Savings is not just a product but an advocacy in itself that's aligned with the Bangko Sentral ng Pilipinas' (BSP) intent towards democratized financial inclusion. Micro Savings aims to empower Filipinos to address financial needs and enable long term financial plans.
State of Pinoy Savings
7 in 10 Filipinos keep their savings at home.
Why is that so? Why do most Filipinos can't open a bank account, thus miss a range of financial benefits and payment opportunities?
TWO MAIN REASONS:
(1) not enough money to open an account
(2) no banking institutions around the area (553 out of 1,634 cities and municipalities in the Philippines remain unbanked)
With the current state of Pinoy Savings, Cebuana Lhuillier launches "Micro Savings" as a bold initiative to provide the much-needed financial services to unbanked sectors.
How to be Financially Included
Cebuana Lhuillier dreams for every Filipino to be financially included. That is, for every Filipino to have a bank and to enjoy the financial benefits and opportunities that come with it. Staying true to its commitment to uplift the financial situation of every Filipino, Cebuana Lhuillier has been addressing different needs of different clients in terms of microloans, pawning, remittances, etc.
Micro Savings is another tool to achieve Cebuana Lhuillier's dream. With micro Savings, opening a bank account is now easier, affordable, and accessible to every Filipino:
✓ has simple documentary requirements
✓ has the ease of transaction cost
✓ no average daily maintaining balance
✓ no dormancy charges
✓ authorized by BSP
How to open a Micro Savings Account
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Event photos:
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