City Savings Bank (CitySavings), a thrift bank subsidiary of UnionBank, is aiming to provide comprehensive, yet simple, banking solutions for the Filipino mass market. CitySavings AVP – Reputation and Brand Management Head Paula Ruelan said, “Our goal is to become the leading digital mass market bank in the Philippines and further promote financial inclusion.”
Currently, CitySavings, holding true to its tagline “Simple Is Good”, offers straightforward banking services, as well as a wide range of mass market financial products. These include salary loans for both public and private school teachers and government workers, pension loans, motorcycle loans, and even company loans.
Aside from that, CitySavings is also an advocate for sustainability. Because of transportation challenges posed by the nationwide lockdowns during the pandemic, CitySavings saw an opportunity to provide a more affordable mode of transportation to Filipinos, while also giving traditional tricycle drivers a way to increase their income and switch to a more sustainable livelihood.
Traditional tricycles used widely in the country are known to add to our pollution problems. In the case of CitySavings, it partnered with Elaia Green Vehicles Corporation (Elaia) to launch its e-trike program. Through the program, interested clients can apply for a motorcycle loan with CitySavings and receive their own e-trike unit, supplied by Elaia.
This initiative contributes to the Sustainable Development Goals (SGDs) in reducing urban poverty by providing an affordable financing system and sustaining an affordable mode of transportation for the masses. This will also contribute to the reduction of greenhouse gas emissions mostly emitted by conventional tricycles.
CitySavings and Elaia’s e-trike program has seen growing success. During the recent UnionBank Innovation Festival, they recently signed a brand-new partnership with the City of San Pedro, Laguna, where both organizations would extend this program to the Tricycle Operators and Drivers’ Association (TODA) within the locality.