23/09/2022
To our Dear Cooperators and Depositors:
We are pleased to announce that the consolidation of Metro South Cooperative Bank (MSCB), Consolidated Cooperative Bank (CCB), and Bataan Cooperative Bank (BCB) was finally approved by the Monetary Board of the Bangko Sentral ng Pilipinas, in its Resolution No. 901 dated 23 June 2022 to be known as One Cooperative Bank (One CB).
We would like to assure you that with the consolidation, your deposit and capital is secured. The combined assets and capital of the three Banks upon consolidation will now amount to approximately Php5.92 Billion and Php1.12 Billion, respectively. Total membership will be 1,120 number of Cooperatives.
The goal of the consolidation is to broaden the reach of the three constituent banks in order to serve the demands of our cooperative member-shareholders, clients, and hopefully the entire cooperative sector. Our physical presence will now be felt not only in NCR but also in Luzon and Mindanao. However, through the use of digital technology channels, we will soon be able to provide quality products and services via technology-based banking, remittance facilities, and checking accounts, among others – enabling us to break down barriers and bridge the gap to reach even the previously unbanked and far-flung areas nationwide.
The MB approval will take effect upon registration with the CDA. For the meantime, you may continue to use the services and facilities of MSCB, BCB and CCB for your banking needs. As the consolidation process progresses, we will keep you informed of any new developments.
We have attached a set of FAQs related to the Consolidation that will answer certain questions and clarifications that you should or may want to know.
We sincerely appreciate your continued support and patronage as we value our continued banking service and relationship.
Sincerely,
FR. ANTONIO CT. PASCUAL
Chairperson, MSCB
SUSAN P. YBANEZ
Chairperson, CCB
BENIGNO P. ANDRES
Chairperson, BCB