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CitySavings empowers teachers through financial discipline

Jomes Ibañez | September 24, 2018

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.

– Maylene Baldovino
Public School Teacher
Adlas Elementary School, Silang, Cavite

THE ROAD TO FINANCIAL DISCIPLINE: Public school teachers from Hoyo Elementary School in Silang, Cavite listens intently in one of the Project ₱er@parasyon (Peraparasyon) sessions by CitySavings Dasmariñas Branch.
THE ROAD TO FINANCIAL DISCIPLINE. Public school teachers from Hoyo Elementary School in Silang, Cavite listens intently in one of the Project ₱er@parasyon (Peraparasyon) sessions by CitySavings Dasmariñas Branch.

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.

– Rancy Balitar
Hoyo Elementary School
Silang, Cavite

ACHIEVING FINANCIAL FREEDOM: Public school teachers from San Pablo Central Elementary School in San Pablo, Zamboanga del Sur are grateful for the practical wealth management lessons taught through a Project ₱er@parasyon (Peraparasyon) session by CitySavings Pagadian Branch.
ACHIEVING FINANCIAL FREEDOM. Public school teachers from San Pablo Central Elementary School in San Pablo, Zamboanga del Sur are grateful for the practical wealth management lessons taught through a Project ₱er@parasyon (Peraparasyon) session by CitySavings Pagadian Branch.

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.

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 to make banking more convenient and accessible to bring greater financial inclusion and to advance business and communities.