State-run Land Bank of the Philippines (LANDBANK) has strengthened its partnership with the Philippine Veterans Affairs Office (PVAO) to better service Filipino veterans and pensioners in the new normal.
Under the amended Memorandum of Agreement (MOA) for the Direct Remittance Pension Servicing System (DRPSS), LANDBANK and PVAO have streamlined procedures for pension account opening and formalized crediting of other PVAO benefits, such as medical and burial assistance, to the LANDBANK ATM accounts of pensioners.
PVAO Administrator Lt. Gen. Ernesto G. Carolina (Ret.) and LANDBANK North NCR Branches Group Head Senior Vice President Marilou L. Villafranca signed the amended MOA on 18 April 2022 at Camp General Emilio Aguinaldo in Quezon City. They were joined by PVAO Deputy Administrator Assistant Secretary Raul Z. Caballes and Finance Division Chief Ferdinand C. Palor, including representatives from other pension servicing banks.
“LANDBANK’s renewed partnership with PVAO is centered on providing greater banking convenience to our customers. We put utmost importance on improving our operational efficiency and adopting more responsive solutions to respond to the evolving needs of pensioners and all our customers, especially in the new normal,” said LANDBANK President and CEO Cecilia C. Borromeo.
The MOA also provides for the setting-up of a dedicated area for communication materials on veteran-related events to be maintained in every LANDBANK branch handling PVAO pension accounts.
More than 60,000 Filipino veterans and pensioners who maintain pension accounts with LANDBANK, including accountholders with the former United Coconut Planters Bank (UCPB), are benefitting from the Bank’s improved branch network and a wide array of products and services.
As of end-March 2022, LANDBANK has a total of 607 branches and 71 branch-lite units nationwide. Pensioners can also use the Bank’s network of 2,802 ATMs all over the country for the convenient and safe withdrawals of their pensions and other benefits.
