Insider Spotlight
The thrift banking arm of Union Bank of the Philippines is positioning disciplined saving as a critical buffer against ongoing economic uncertainty, particularly for middle- and mass-market Filipinos navigating inflation and income volatility.
“Savings represent more than just money set aside - they represent peace of mind, opportunity, and the foundation for achieving life's most important goals,” said CitySavings president and CEO Manuel G. Santiago, Jr.
Why it matters
Filipino households remain vulnerable to financial shocks, with savings rates historically lagging regional peers. Banks like CitySavings are leaning into both product innovation and education to close that gap.
At the center of its offering is the Power Savings account, which delivers a 4 percent annual interest rate—higher than traditional deposit products—designed to help customers grow funds more effectively over time. The strategy, according to the bank, ties individual financial health to broader economic expansion, as stronger savings fuel local investments.
The push, detailed in a recent company release, reflects a broader industry shift toward combining financial products with literacy initiatives to drive deeper engagement and long-term customer value.
Big picture
CitySavings is anchoring its efforts on community-based growth, emphasizing that financial inclusion directly impacts economic development at the grassroots level.
“When our clients succeed financially, entire communities benefit,” Santiago said. “Higher savings rates lead to increased local investment, job creation, and overall economic stability.”
By the numbers
Through its Project ₱er@parasyon (PeraParasyon) program, the bank has conducted more than 1,700 financial literacy sessions since 2016, reaching nearly 132,000 participants nationwide, including educators, public servants, and uniformed personnel.
What’s next
CitySavings is continuing to transform its branches into “Bangko ng Barangay,” reinforcing its push toward accessibility and mass-market reach. The long-term goal: position itself as a leading bank for everyday Filipinos while deepening its role as a financial partner at the community level. — Princess Daisy C. Ominga |Ed: Corrie S. Narisma
