Cantilan Bank celebrates 36 years of Progressive Community Banking
Cantilan Bank, Inc. is now on its 36th year of providing excellent community banking services in the countryside with commitment that goes beyond quality products and services.
Opening its doors in June 1980, the bank has helped improve the livelihood of its clients through its financial inclusive services, one of which is the Agri Value Chain product, conferred by the Fondazione Giordano Dell’Amore in 2015 with an International Microfinance Best Practices award. The bank’s Agri Value Chain loan was recognized as having the greatest impact on financial inclusion of smallholder farmers.
In addition to helping local businesses grow and become more successful, the bank conducts financial literacy education to underserved communities which involves teaching the children and the parents to save for their future.
“We are very proud of what Cantilan Bank has accomplished over the past 36 years,” said Brig. Gen. Charles Y. Hotchkiss (AFP, Ret.), President of Cantilan Bank. “Our success is directly linked to the communities we serve. If our clients succeed then we have done our job well, thus we always reflect on them and design our products and services according to their needs.”
The bank has been cited by the Bureau of Internal Revenue as the largest corporate taxpayer in the entire province of Surigao del Sur which greatly helped in the implementation of the Local Government Units’ community projects.
According to MABS (Microenterprise Access to Banking Services), a USAID (United States Agency for International Development) program designed to accelerate national economic transformation by encouraging rural banks to offer new and innovative products and services specially for micro-enterprises, small farmers and low-income households, “Cantilan Bank’s impact in the town of Cantilan is evident. As the bank grew, so did its tax payments to the community. As the largest taxpayer in Cantilan, (and in the province) the bank is now paying more than 25 times in taxes what it paid in 1999 and accounts for more than half of the municipality’s revenue. Bank profits and business, generated largely from the bank’s ability to mobilize deposits – which were in turn invested in local businesses – helped propel Cantilan from a 5th class to a 2nd class municipality.”
Over the past 36 years, Cantilan Bank has remained customer-oriented and focused on its role in community development. With its mission of developing and supporting financial inclusion and environmental protection programs, we are proud to say that the bank’s long term success and sustainability determines the long-term success of the communities that we serve.