The Land Bank of the Philippines (LANDBANK) has recently extended its support to the ACDI Multipurpose Cooperative (MPC), an institutional cooperative serving members from the entire Armed Forces of the Philippines (AFP), to enhance the working capital of the cooperative.
The bank’s support is aimed at assisting uniformed personnel in the country.
Photo shows (from left:) ACDI MPC Executive Vice President Esperanza Cauayan; ACDI MPC president BGen Alfredo G. Ramirez AFP (RET); ACDI MPC chairman MGeneral Gilbert S. Llanto AFP (RET); LANDBANK president and CEO Lynette V. Ortiz; and LANDBANK Executive Vice President Ma. Celeste A. Burgos during the signing of the loan agreement.
As part of the agreement, LANDBANK has provided ACDI MPC with rediscounting lines to offer affordable credit options to its extensive membership of over 269,000 individuals, which includes both active and retired members of the Armed Forces of the Philippines (AFP) and other uniformed personnel.
Empowering members with expanded loan offerings
ACDI MPC stands as the largest cooperative in the country today in terms of assets.
With LANDBANK’s assistance, the cooperative can now expand its loan offerings at favorable rates, empowering its members to realize various financial goals such as homeownership, vehicle acquisition, entrepreneurial pursuits, and educational endeavours for their children.
During the agreement-signing ceremony, Lynette V. Ortiz, president and CEO of LANDBANK, expressed pride in the bank’s long-standing partnership with ACDI MPC since 1996.
Ortiz also reiterated LANDBANK’s commitment to reinforcing the cooperative’s working capital, thereby facilitating increased lending activities for uniformed personnel while supporting ACDI MPC’s growth plans across other business segments.
The loan agreement between LANDBANK and ACDI MPC was formalized on April 8 at the LANDBANK Plaza in Malate, Manila. LANDBANK President and CEO Ortiz, alongside ACDI MPC Chairman MGen Gilbert S. Llanto AFP (Ret), led the signing ceremony. Also present were ACDI MPC President BGen Alfredo G. Ramirez AFP (Ret) along with LANDBANK and ACDI MPC executives.
ACDI MPC Chairman Llanto expressed gratitude for LANDBANK’s confidence and emphasized its significance in furthering the cooperative’s operational excellence.
Highlighting LANDBANK’s pivotal role as the government’s premier financial institution, Llanto also underscored the endorsement as a testament to ACDI MPC’s journey and achievements.
LANDBANK is actively supporting ACDI MPC’s digital transformation efforts through the provision of digital banking solutions, including LANDBANK weAccess for select transactions and the e-Tax Payment System (eTPS) for online tax payments.
Last year, ACDI MPC received LANDBANK’s prestigious DIAMOND Award for Outstanding Non-Agri-based Cooperative, recognizing its contributions to national development during LANDBANK’s 60th anniversary celebration.
As of February 2024, LANDBANK’s loans to the cooperative sector have totalled P73.8 billion, benefitting nearly 1,400 agricultural and non-agricultural cooperatives nationwide.
