Rep. Ignacio Arroyo Jr. (Neg. Occ., 5th District) is urging the public to make deposits in the newly opened Negros Cooperative Bank in Bacolod City to help the cooperative movement of the province.

Arroyo, who spoke at the formal opening of the bank at the Capitol Lagoon Park along North Capitol Road in Bacolod City Wednesday, made an initial deposit in the bank of P500,000 from his personal funds.

The formal inauguration of the bank was held on March 19 to mark what would have been the 74th birthday of Gov. Joseph Marañon. A mass was also held at the provincial Capitol in Bacolod City on Wednesday to mark the birthday of the late governor who passed away on March 13.

Gov. Isidro Zayco and Edgar Sarrosa, a member of the NCB board who represented the Marañon family at the rites, unveiled its marker, which said the bank was a concrete response and symbol of commitment of the provincial of Negros Occidental under Marañon and Zayco to cooperatives and small and medium scale enterprises.

Zayco said the bank was one of the flagship projects of Marañon that he will continue to support.

Ramon Peñalosa, chairman of the board of the bank, said Marañon was the prime mover in the creation of the new bank where one can open an account with a minimum deposit of P500.

The bank will provide low interest loans to those not able to obtain them through regular banking facilities, to aid small and medium scale enterprises, he said.

He also said low interest loans will be provided for entrepreneurial efforts that will ensure environmental protection.

Nestor Bayona, vice chairman of the NCB board, said 47 cooperatives in Negros Occidental are the original investors and members of the bank.*CPG

back to top