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Pawnshops: The Traditional Choice

Most of the time, we Filipinos would choose to pawn off our valuable items instead of borrowing from our neighbors. Traditionally, the latter was a common option amongst people living within a single community, however, things began to change during the occurrence of countless pawnshops, featuring various appraisals that offered a much better deal. You may ask, “What changed? Why do the people go for pawnshops? And why is it a recurring choice nowadays?” All of these questions can be answered by the mere history of pawnshops in our country, its popularity in small towns, as well as the economic stature of the country itself. Buckle up, as we delve deep into the heart of this industrial dragon, an industry that has been etched into the history and culture of Filipinos, the industry known as pawn shops.

 

A Brief History

Believe it or not, the act of pawning didn’t even originate from the Western world. Various sources traced it back at least 3,000 years to ancient China. This, however, shouldn’t come as a surprise, as the Chinese people are some of the most proficient business-oriented people in the world. The mere concept of numbers, sales, and even loans are something that China can boast to execute well, even by today’s standards. Perhaps their proficiency is what lead to its worldwide influence, with written historical evidences of it being found in the Greek and Roman civilizations as well.

But the influence didn’t stop there. The industry of pawnbroking took on a life of its own, evolving its business structure along the way. Old documents would further demonstrate its benevolent rise and influence, particularly in 1462, when the Franciscans set up the Montes Pietatis, which granted interest-free loans to the poor (a preliminary concept of pawnbroking), though they were later forced to charge interest to prevent premature exhaustion of their funds (forming a system that would stand the hands of time).

 

Its Arrival in the Philippines

During the Spanish reign, Chinese traders would usually traverse Philippine waters to conduct business. It was in this particular stage in our history that the act of pawning may have been passed on and taught to our ancestors. Of course, we were not the only ones to adapt this particular type of business, as pawnshops may be found around the world, however, we were one of the first to definitely learn it.

 

The Better Alternative

As mentioned before, Filipinos would usually borrow cash from their neighbors in order to pay up their debts, but this brought them another dilemma in the process – more debts. Yes, the mere fact of having the debt collectors next door may have intimidated people into ever borrowing money from others who live nearby, hence why “almost” everyone decided to find alternatives. Pawning would become that alternative, provided that the people pawning off their items wouldn’t be borrowing afterwards, they at least have no further pending balances after. Of course, there are interest rates, but even that is a much better option than having your neighbors knock on your door during the early hours just to collect.

So far, this lead to a total of 18,500 pawnshops (as of 2012) in the Philippines. Take note that that count only represents the different brands of pawnshops in the country, and not their individual branch count, hence, the total branch numbers may dwell into the hundred thousands, so to speak.

 

A Cultural Phenomena

Believe it or not, pawnshops have somehow become synonymous with the Filipino culture, even going as far as reaching pop culture status. If social media memes aren’t enough, they’ve somehow found their way in your daily teleseryes, in which the strong-willed protagonist would pawn off a valuable family heirloom in order to pay up for a sick sibling’s medical bills. If this scenario sounds familiar, well, it has become a somewhat cliché of a plot among Philippine television, especially programs which deal with dramatic stories and such. Change up the family member angle and you’d still be presented with a similar focal point, pawnshops are solutions that our beloved protagonists would usually look forward to, and why wouldn’t they? They are fast, convenient, and are very practical when it comes to making a few extra amounts.

 

A Practical Solution

Pawnshops can be found everywhere. Think of them as your local fast food chain, the only difference is, you’ll end up with more cash right after the transaction. Aside from that, your most prized possessions will be handled with utmost care, seeing that every item has an equivalent value. Regardless if you’re going to pawn off your jewelries, your gadgets, your appliances, etc., you can expect a fast and convenient process which, for the most part, would only take a few minutes. Pawnbrokers understand the urgency of gaining extra cash without running into a road block, hence, why they would give an upright computation of the item’s value. An honest appraisal is all that a hopeful customer would ever ask for, and they’ll get it immediately after every item evaluation.

With all of these in mind, you may already have an idea of why people choose to pawn rather than to borrow money from other people. Simply put, it is a much quicker process in earning a few thousands rather than having to borrow money from hesitant people who might just lend a few hundreds.

 

Factors which May Affect Your Appraisal

Of course, you can’t just simply barge into a pawnshop and expect to automatically get a great deal in one go. There are several factors to consider when trying to get a good appraisal on your items:

1) Are they in good condition? – Simply put, damaged items rate lower than those which are in mint condition. What we’re talking about here is the quality. Make sure to double check your prized possessions before having them validated by the pawnbroker.

2) How much do they currently cost? – Current market value may also affect item appraisal. The older they are, the lower their current market value is, hence, your cellphone of five years (in spite of it still being in mint condition) would definitely have a much lower return than a newer model.

3) What is the reputation of the pawnshop itself? – This is where the honesty and good business practice of the pawnbrokers would come into play. Evaluate your options and choose wisely.

 

Out of all the pawnshops, is there one you can really trust?

Short answer: Yes! The thing about pawnshops is that, you’ll never run out of options to choose from. As a wise consumer and investor towards this kind of service, you’ll probably run into a well-trusted name with a clean track record. Most of the time, people would get a low appraisal from lesser known pawnshops. Transacting with lesser known establishments would usually yield less than desirable results, which is why you should avoid committing this critical mistake. You may be looking for a pawn shop that would provide you with the most honest return possible. No worries, as Cebuana Lhuillier has got your back. With their Pawning Service you can never go short in any amount, as they accept an array of items, from jewelry to gadgets. Amazingly, they also have a 35% higher appraisal VS other pawnshops in the Philippines. They also lead the pawning industry by offering safety and the highest appraisal rate in the industry in its 2,500 branches nationwide. Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

Blessings from Abroad: The Long History between Filipinos and Money Remittance

Overseas Filipino Workers (OFWs) and money remittance has a longstanding love story. The thing about this relationship is that one strongly depends on the other while the other gladly opens its arms to serve without objection. And while it may seem one-sided, it has been a very healthy relationship throughout the years. The routine of sending money back home after every payday is one which can always be expected of from OFWs, and repetitive as it may seem, they would never grow tired of it. Which is why the parallel existence of OFWs and money remittance stood the test of time, rich in history, rich in progress, and rich in purpose, it is a part of modern culture that will always be associated with Filipinos.

From the Very Beginning

There is no money remittance without immigrants and overseas workers, hence, let us turn back the hands of time and take a peek into the history of Filipino’s conquest for employment around the world. First of all, there are two types of Filipinos who would send money back home. You might have caught a glimpse of them in the first sentence of this paragraph:

1) Immigrants – These are people who have fully migrated towards foreign territory. They take oath in being citizens of their chosen country (with due process, of course) and are entitled to the benefits of being citizens of that foreign land. Immigration took its roots in the 20th century (at least for us Filipinos), following the Spanish-American war, which lead to the Philippines becoming a US territory.

The common misconceived destination for OFWs is the Middle East, however, the influx of Pinoys towards the said location didn’t even begin ‘till the 70’s, made possible by an overseas employment program launched by the government, which enabled the Filipinos to work in the Middle East, especially those countries which are members of the Gulf Cooperation Council (GCC).

So, you may ask, “If the Middle East wasn’t our first choice of destination back then, where did Pinoys of the golden years choose to migrate to?” Well, remember when we said that immigration took its roots in the 20th century,   following the event that lead to the Philippines becoming a US territory? One of the main territories affiliated with US back then was Hawaii (as evident by the happenings in Pearl Harbor), hence, why it was estimated that there was an influx of around 120,000 Filipino workers between 1906 and 1934. Their employment choice? Sugarcane and pineapple plantations. Definitely a sweet lasting career.

2) Overseas Workers – Unlike immigrants, who take on permanent residency in foreign countries, overseas workers usually sign a temporary contract to work within a given amount of time, more or less lasting for a few months or years. Having a temporary contract doesn’t entitle them much to citizen benefits, since they aren’t local nationals under oath of that region, nonetheless, they enjoy the benefits given out by the company that they work for.

Overseas workers make up the bulk of Filipinos who were given the chance to work in the Middle East during the 70’s, forming the current cultural trend of Pinoys signing up for employment in the Arab lands. This extended towards the pop culture reference of Filipino entertainment, with movies and primetime dramas giving a routine image of protagonists going abroad to provide financial support for their families, with Dubai and Saudi Arabia as their backdrop.

Do take note that the aforementioned countries aren’t the only chosen locations for both immigrants and OFWs. You can also find Pinoys in the US, Canada, New Zealand, and Australia. Non-Pacific and Middle East countries have become the focal point of some Filipinos in the early 2000’s, obviously the result of foreign influences in film, TV, and radio. Some Pinoys would even factor in the cultural dominance of a country in their list of reasons to work for a particular region, perhaps preferring to bask in the wonderful sights as an additional inspiration for their work abroad.

Now that we have an understanding of the two types of Filipinos sending money back home to their families, we should also understand the significance of these remittances to the Philippine economy. If you think that their families are the only ones harvesting the fruit of their loved ones labors from the foreign lands, you’re definitely mistaken. Here are two important factors to consider:

 

1) Remittances from OFWs are vital to the country. It helps in sustaining the country’s domestic consumption and growth. As a matter of fact, remittances actually represent 10% of the nation’s GDP (Gross Domestic Products).

2) According to data gathered by Bangko Sentral ng Pilipinas (BSP) in 2017, the total cash remittances sent home by overseas Filipino workers rose to 4.3%. If that percentage doesn’t look much at first glance, then you may be surprised to find out that it amounts to $28.1 billion. Take note, that’s in Dollars and not in Philippine Peso.

Now, you may think, “Okay, the country definitely receives a “share” of those remittances, but how much impact do they have towards the economy in the long run?” According to a financial coaching website:

“The bulk of remittances in the country are important because it plays a pivotal role in boosting the economic standing of a nation in the world, by keeping it competitive through its dominance in providing services in export business, like in the export of goods and merchandise.”

Much like how the import and export of goods makes our economic cycle go round, money remittances somehow assists in that process. You’re not going to find a much better spin cycle than that of our economic structure. For the most part, it is a knowledge that only our avid marketers would understand, but for the average Filipino, it is an unseen part of their lives which are integral for their lifestyle. Needless to say, OFWs are the unsung heroes of this process, being the participating initiators of this cycle, even without their physical presence within the country.

To make the long story short, the timeless parallel of money remittances and Filipinos can be traced all the way back to the 20th century, throughout the 70’s, and up to this present day. As long as there are OFWs and Filipino immigrants/expats, remittances will continue to flow and assist within our economic structure and financial make up, signifying a much stronger economic stance and a brighter future for the OFW’s families.

But that is made possible only by a well-trusted remittance center, and nothing indicates a more trusted name than Cebuana Lhuillier. With Cebuana Lhuillier’s Pera Padala Service, you are ensured an easy, quick, and safe way to send and receive money. With 2,500 branches nationwide and accredited international partners, this money transfer service is made available to clients within and outside the Philippines. All transactions are real time, which enables clients to claim the money as soon as the sender completes the sending process in the branch. So for our beloved OFW patrons, feel free to visit any of our international partners – we assure a fast, easy and secure transaction.

For a complete list of our international partners, you may visit our website at https://www.cebuanalhuillier.com/pera-padala/.

Banking Made Easy in the Modern Era

Banks – what would we do without them? They’ve been around for centuries, allowing everyone to undergo and process their financial transactions within their preferred branches (given that they have an account, of course). People may choose to apply for a new account, or apply for a bank-sponsored loan, make a deposit, make a withdrawal, and even pay their bills. Indeed, banks are the one-stop spots when it comes to financial transactions. Every process is delicate and is handled by a well-trusted staff of the bank itself, may it be the teller or the bank manager. Nonetheless, one of the main commodity within a bank isn’t even the huge stash of money within the safe, but rather, the trust given by its countless clients. If a majority of people doesn’t trust a particular bank or one of its branch, you can bet that the daily crowd size would decrease within a short amount of time. No one likes to conduct business with an establishment grazed with a bad review, after all.

With all of that in mind, you may probably be wondering, “How do I make sure that the bank I’m dealing with is a “Triple A” choice? What are the traits of a well-trusted bank? How convenient are they than other banks which I’ve already had the pleasure of transacting with before?” All of these may be answered by taking a peek into the work structure of a bank itself, it’s relevance in our community, as well as a short history of how it was made.

 

A Brief History about Banks

Believe it or not, the first few set of banks weren’t even handling money transactions back then. Around 2000 BC in Assyria, India, and Sumeria, the first prototype banks (which were the merchants of the world), made grain loans to farmers and traders who carried goods between cities. It wasn’t until the reign of the Roman Empire did they adapt and implement what would become the system that we have in our modern banks right now, with lenders based in temples making loans while accepting deposits and performing the change of money.

Another important part of banking history dates all the way back to Italy, citing the crucial development of banking’s business structure during the medieval and Renaissance period. Now that’s the literal meaning of history, right there.

 

What are the traits of a well-trusted bank?

Each individual deserves to experience an exemplary service from their own choice of bank. It has nothing to do with the economic status of the clients as well (whether they deposit a big amount or not), as it is up to the bank and its staff to make each and every person feel that they are the kings and queens of the hour. It will always be the bank and its underlying staff’s responsibility to uphold the good reputation and trust given to them by their clients. With that being said, here are a few vital indicators that the bank you’re transacting with may be deemed exemplary and trustworthy:

1) Transparency – Whether a client’s loan application would come with an interest rate or not, it should be mentioned first hand, before any contract or agreement were to be signed. Of course, the bank representatives do not necessarily need to divulge all of the bank secrets to the client, but rather, the underlying fees involved in each transaction, including interest rates and other possible service charges. Some clients are willing to pay up these said fees anyway out of goodwill towards the bank, hence, why hiding any detail from them would be counter intuitive at best. Speaking of fees..

2) No Unnecessary Fees – It’s normal for any establishment to charge service fees in order to keep the ecosystem of their business running. However, this shouldn’t be abused to the extent that the client would need to shell out hundreds if not thousands of Pesos just for a single transaction. A trustworthy bank would always have the client’s goodwill in mind, which is why they should avoid overcharging them at all cost. Aside from that, the mere act of withdrawing and depositing money shouldn’t have any additional fees with them, unless of course a client were to withdraw money from one of the bank’s ATMs using a debit/cash card from another bank (inter-banking charges will always apply in this case).

3) Exemplary Service – Bank representatives should be active in helping out their clients with their various banking needs. A bank is considered exemplary if it has a good reputation that would precede it. Good services would always translate into short lines, quick flow and process of transactions, and good reviews from the clients themselves.

All of these may signify that your typical bank would definitely be the best place for you to trust your money with. But what if we were to tell you that there is a much better alternative to this? What if we were to tell you that such alternative is purely unique, unorthodox, and very trustworthy? Well, look no further than your local pawnshop.

 

“A Pawnshop?” You may ask. Yes, you’ve read that right, a pawnshop that also functions as a bank. Believe it or not, such an establishment exists, and it is none other than a longstanding name that you can trust, Cebuana Lhuiller, or more specifically, Cebuana Lhuiller’s Micro Savings Account.

Initially offered in their Rural Bank branches, it is now available through their entire Cebuana Lhuillier branch networks. But that’s not all, as there are still other advantages in signing up for Cebuana Lhuiller’s Micro Savings Account:

1) You will be able to use your 24K Plus and 4C Cards at any of the 2,500 Cebuana Lhuillier Pawnshop and Cebuana Lhuillier Rural Bank branches in order to withdraw or deposit on your savings. with 2,500 branches nationwide.

2) With a minimum deposit amount of only P50 and no minimum maintaining balance, it’s incredibly easy to apply for one. Other banks have a higher required amount when it comes to the initial deposit, going as high as P1,000 – P2,000. And we’ve only mentioned the deposit amount, as there may be other fees involved if you decide to open an account in your typical bank. Cebuana Lhuillier Micro Savings account would not require you to do that at all. Aside from submitting a few paper works and documents for the processing of your account, you’ll be good to go in no time. How is that for unparalleled convenience?

3) It is now much easier to check your balance without even breaking a sweat. Remember when we said that one of the main characteristics of an exemplary bank is their smooth work flow and short lines? Well, Cebuana Lhuiller’s Micro Savings account beats that by a mile, by not even requiring your physical presence in order to check on your account balance. Instead, you may accomplish that via their SMS service, a much reliable way, ready to serve you 24/7.

So, what are you waiting for? Visit your nearest Cebuana Lhuillier branch now for more details.

 

 

Microinsurance: A Much Affordable Option

Insurance, everyone needs them but not everyone can afford them. For the most part, people are conflicted whether or not they should get one, as the application and approval process gets a bit confusing after a while. Nonetheless, there is a far better alternative for those who wouldn’t want to get hassled in attaining a proper insurance plan. If you’re not updated on the latest trend, there is no need to look any further than microinsurance. You may ask, “What is microinsurance? What are its advantages over the usual insurance? How do I get one?” These questions are best answered with these following information. Get your pens out and take notes as we’ve got you covered:

 

What is Microinsurance?

Microinsurance is defined as an affordable alternative against specific perils in exchange for regular premium payment proportionate to the likelihood and cost of the risks involved. This is typically offered to the working class who may not be able to afford the premiums of a regular insurance, due to the rate difference. Of course, the scope of coverage may vary, however, the purpose is still the same, for people to get a financial assistance in times of need and calamity. The term “need” and “calamity” may also have varying definitions and interpretations, but those who have microinsurance shouldn’t worry as, in spite of that, they would still reap the full benefits of their chosen coverage package.

 

What are the differences between a Microinsurance and a Traditional Insurance?

Of course, there are significant variations between traditional insurance and microinsurance. Their general purpose are similar in perspective, but dwell deeper into their structure and you may find that one is definitely unlike the other. Here are just a few examples:

1) The intended clients – Microinsurance focuses on individuals with no insurance awareness. There is a reason why it’s a more affordable choice, due to the fact that microinsurance establishments aim to make it more accessible towards our fellow Filipinos who aren’t even aware that such services exists. These establishments are aware that the mere concept of getting insured isn’t exactly a well-conceived notion for many, hindered by the higher rates of traditional insurance. Speaking of which, the opposite can be said about traditional insurance, with the intended clients to be people who are well aware of their options and are willing to shell out a lot for any form of coverage.

2) The simplicity of contents – Simply put, microinsurance features are easier to understand. Microinsurance establishments are less about the complications and more about the understanding of their clients, hence, if you’re going to apply for one, you’ll be surprised at how easy it is to learn about the ins and outs of the coverage that you’re planning to acquire.

3) The pricing – If you’re going to apply for a microinsurance coverage, fear not about the prices, as they are definitely way lower than traditional insurance. You do not need to spend thousands just to have a modest coverage or plan, all you need to do is to discuss your options and choose from a wide range of premiums.

4) The requirements – This is one of the main reasons why most people aren’t too enthusiastic about getting insurance, due to the fact that the mere application itself would require lots of paperwork and documents. Especially in a country such as the Philippines, the amount of processing time just for the requirements alone would really test your patience, having to fill up countless forms, just to stand in line thereafter, then be told to come back another day due to an unfulfilled checklist of documents which you may or may have not even come across before.

5) The collection period – Microinsurance payments are mostly collected every week, with some even on an irregular basis. The opposite can be said about traditional insurance, where they collect annually or every month, which would then coincide with some due date bill payments, leading to a more expense-filled week.

6) The damage assessment – Both microinsurance and traditional insurance have that general aim of providing financial assistance when a client experiences a sudden roadblock, either in the form of illness or calamity. However, the way that they assess these situations vary to a certain degree. For example, microinsurance has a simpler and faster method of assessment than a traditional insurance, so you wouldn’t have to wait long in times of emergencies, unlike the typical insurance method which would require several documents as proof, in turn using up an extended period of time for the process to be completed.

 

What coverage and premiums may a microinsurance offer?

In spite of the fact that it is a more affordable option, it still offers a lot of perks that may cover various aspects of a client’s everyday life. Whether they’re at work, at school, or even when they’re home, they can still enjoy the premiums that microinsurance has to offer.

1) For students – All parents are concerned about the safety and well-being of their kids, hence, why it would be a good choice to sign them up for a student premium. During their time inside and outside the classroom, anything can happen. Accidents during play may occur and such may bring a sudden influx of expenses. A student premium would definitely help out with that. Some premiums would even allow parents to sign up their kids as early as 4 years of age.

2) For employees – Going from young kids to adults, an employee coverage works in a similar style as a student premium, with the main difference of sudden occurrences happening within the workplace rather than a school ground. Simply put, it covers accidental death, Disablement & Dismemberment (ADD&D), accidental medical cash aid, burial benefit (accident/sickness), Unprovoked Murder & Assault (UMA), motorcycling and personal liability. Now, that’s what you would definitely call a complete coverage.

3) For automobiles (personal vehicle) – Basically, microinsurance does not limit its services towards humans alone, it also protects your car. A standard vehicle coverage covers Own Damage (OD), theft, loss and/or damage, Excess Bodily Injury (EBI), Excess Property Damage (EPD), and Acts of God/Nature (AOG/AON). Now, having your vehicle repaired wouldn’t be too much of a hassle (as long as they’re within the given set of premiums).

4) For your home – The Philippines itself is one of the most calamity-prone countries in the world. There are certain months in which we’d be hit with two or more storms in succession, hence why a microinsurance premium aiming to provide coverage for our home is definitely well needed. The average premium offers loss protection to buildings and residential dwellings including their contents against perils of fire, lightning and other allied perils such as earthquake, typhoon and flood.

With all of these in mind, it may be no surprise that you’re weighing in your options, analyzing which establishment would be best for availing a well-trusted microinsurance premium and coverage. Look no further than with Cebuana Lhuillier’s Microinsurance Services, affordable insurance products to help Filipinos avail of financial services and privileges that higher-income earners have easy access to, with innovative microinsurance products and services that promise to minimize impact of distress and misfortune on one’s financial position. Feel free to visit your nearest branch for more information.

Two million micro savings accounts bring Filipinos closer to financial inclusion

Based on the 2017 Financial Inclusion Survey of the Bangko Sentral ng Pilipinas (BSP), only 15.8 million Filipino adults or 22.6 percent of the total adult population have formal bank accounts, while 52.8 million or 77.4 percent remain unbanked.

To help the BSP encourage the unbanked population to invest in savings, Cebuana Lhuillier launched its #Kaya Na: Unbanked Filipinos No More campaign, and in just seven months, generated over two million micro savings accounts.

Guided by its mission to convert Filipinos into instant “Iponaryos”, the country’s leading micro-financial services provider set out to conduct financial wellness program cascades in its own branches and other venues nationwide, utilizing its 8,000-strong workforce.

To date, Cebuana Lhuillier has cascaded the value of savings to various communities, enabling more than 30,000 attendees from far-flung barangays, schools, non-government organizations, local government units, and cooperatives, to start their journey towards financial independence.

“What started out as a dream has become a reality. There were over two million previously unbanked Filipinos nationwide but can now access and save through their micro savings accounts,” said Jean Henri Lhuillier, Cebuana Lhuillier president and CEO.

“This groundbreaking product was designed with the premise that Filipinos, given the right financial tools and opportunities, can be captains of their own ship, navigating their life towards financial freedom.”

Acting as a cash agent of Cebuana Lhuillier Rural Bank, the company is steadfast in its commitment to heed the Bangko Sentral ng Pilipinas’ (BSP) call for financial inclusion through its Cebuana Lhuillier Micro Savings, an interest-bearing basic savings product that allows clients to save up to PhP50,000 using the company’s 24k Cebuana Lhuillier loyalty card.

Using BSP’s Basic Deposit Framework circular as guide, Cebuana Lhuillier simplified the process of opening a savings account by requiring only one valid ID and a PhP50 initial deposit which account holders can access in any of its 2,500 branches nationwide.

The company aims to conduct at least 500 more financial wellness cascades with a projected 100,000 attendees in the next three months, as part of its thrust to convert at least three million Iponaryos by the end of the year.

Cebuana mobilizes workforce as ‘Iponaryo’ ambassadors

Leading microfinancial service provider Cebuana Lhuillier has mobilized its 8,000-strong workforce to teach Filipinos on the importance of savings in achieving financial goals.

Cebuana Lhuillier President and CEO Jean Henri Lhuillier said their workforce will serve as “Iponaryo” (from the Tagalog word “ipon” for savings) ambassadors whose mission is to educate and demonstrate how Cebuana Lhuillier Micro Savings could jumpstart a bandwagon of savers.

Through the “#KayaNa: Unbanked Filipinos No More/Iponaryo” movement, Cebuana Lhuillier has taken its financial wellness campaign from its branches and head offices to barangays and communities all over the country.

“We want to be more than a microfinance company, providing quick cash to the underbanked and unbanked for their short-term financial needs. We want to become an enabler for a better future to empower Filipinos to navigate their life in any direction and be captains of their own ship,” said “We want to help them graduate from bridge financing options so they could experience financial freedom,” said Lhuillier.

Cebuana Lhuillier has developed a two-pronged campaign: First – teach all 8,000 employees to become “Iponaryos” by sharing the importance of saving and having your own savings account and how to achieve and secondly, all these 8,000 employees to become “Iponaryo” ambassadors who will teach millions of Filipinos in different communities.

Earlier in the year, Cebuana Lhuillier tapped financial expert to co-develop a module on the barriers and techniques to effective saving thru the book “Ka-CebuanIpon Diary” booklet which is being distributed to participants of several lecture sessions.

According to Lhuillier, the “Iponaryos” are equipped with the fundamentals of saving and basic financial management skills, all 8,000 Cebuana Lhuillier employees formed multiple pocket groups in Metro Manila, North Luzon, Central Luzon, South Luzon, Central Visayas, Eastern Visayas, Western Visayas, and Mindanao to teach in communities of CebuanaLhuillier’s philosophy of financial wellness and the importance of being an “Iponaryo” and have so far done close to 300 pocket sessions nationwide.

Since the launch of the “Iponaryo” movement in June this year, close to 2 million Cebuana Lhuillier Micro Savings new accounts have been opened from these on-ground activations, converting clients to instant CebuanaLhuillierIponaryos.

Attendees of each lectures are from different walks of life such as students, teachers, governement employees, fisherfolks, fast food crews, office employees, SME owners and the like.

Source – https://business.mb.com.ph/2019/09/14/cebuana-mobilizes-workforce-as-iponaryo-ambassadors/

Cebuana Lhuillier grows a nation of Iponaryos

More than 1.7 million Filipinos are now a step closer to financial freedom after opening Cebuana Lhuillier Micro Savings accounts.

Considered as Iponaryos, the micro savings account owners are encouraged to follow the Iponaryo philosophy of saving at least PhP50,000 a year using their KaCebuana Ipon Diary.

To date, Cebuana Lhuillier, through its 8,000 employees, has cascaded the financial wellness philosophy to more than 10,000 individuals from far-flung barangays, schools, NGOs, LGUs, and cooperatives.

By year-end, it aims to conduct at least 500 more cascades towards its thrust to convert at least three million Iponaryos nationwide.

MICRO SAVINGS: 500 winners of Php 1,000 cash PROMO MECHANICS

PROMO MECHANICS

  1. Promo duration is from September 15 to December 15, 2019.
  2. Each client must open a Micro Savings account to earn (1) e-raffle entry.
  3. Every month, there will be 500 winners of PhP1,000 cash to be deposited to their Micro Savings accounts.
  • Drawing of winners will happen at P.J Lhuillier, Inc. ICT Office 3/F, The Networld Hub 156 Jupiter cor., Bel-Air, Makati City 1209. This will be done with the presence of DTI representative.
  • A participant may only win once. Non-winning entries will still be drawn in the succeeding months.
  • Prizes are not transferrable.
  • Winners’ names will be announced through branch posters, digital and social media platforms.
  • The winners will be notified via registered mail/SMS. Prizes will be deposited directly to their Micro Savings accounts.
  • P.J. Lhuillier, Inc. will pay 20% tax for the prizes exceeding PhP10,000.
  • Employees of P.J. Lhuillier Group of Companies, agencies and services and their relatives up to second degree of consanguinity or affinity are not qualified to join the e-raffle.

Per DTI-FTEB Permit no. 17587, series of 2019.

Iponaryos

More than 1.7-million Filipinos, including the ones pictured here, are now a step closer to financial freedom after opening Cebuana Lhuillier Micro Savings accounts. Considered as ‘Iponaryos,’ the micro-savings account owners are encouraged to follow the Iponaryo philosophy of saving at least P50,000 a year using their KaCebuana Ipon Diary. To date, Cebuana Lhuillier, through its 8,000 employees, has taught the financial wellness philosophy to more than 10,000 individuals from far-flung barangays, schools, NGOs, LGUs, and cooperatives. By year-end, it aims to conduct at least 500 more cascades towards its thrust to convert at least three-million Iponaryos nationwide.

CORPORATE AGENT PARTNERS

  • ACTION.ABLE, INC.
  • ALL ACCESS GATEWAY INC.
  • ANTRECCO (AGUSAN DEL NORTE TEACHERS, RETIREES, EMPLOYEES & COMMUNITY COOPERATIVE)
  • ACM VIP
  • ALL CASH
  • AGRILIFE/ AGRIVET
  • ASENSO PINOY STORE, INC. (EASY DAY SHOP)
  • AVICOM ENTERPRISES
  • AYALA ALABANG VILLAGE ASSOCIATION
  • BAUG CARP MULTI PURPOSE COOPERATIVE
  • BAGUIO BENGUET COOP
  • CARD BANK INC
  • CARD MRI RIZAL BANK INC
  • CARD SME BANK
  • CARITAS BANCO NG MASA, INC.
  • CEBU PEOPLE’S MULTIPURPOSE COOPERATIVE
  • CIS BAYAD CENTER, INC
  • COOPERATIVE BANK OF BOHOL, INC
  • COUNTRY BUILDERS BANK
  • CREDENCE FINANCING, INC.
  • CURAMED PHARMACY
  • DALTON PAWNSHOP AND JEWELRY INC.
  • DANIELA PAWNSHOP
  • DIRECT AGENT 5 (DA 5)
  • DEVELOPMENT BANK OF THE PHILS.
  • EXPRESSPAY INC.
  • EVRIJEM FOREIGN EXCHANGE AND MONEY REMITTANCE
  • FILHAI MULTI PURPOSE COOPERATIVE
  • GLOBAL PINOY REMITTANCE AND SERVICES (GPRS)
  • GEMARY PAWNSHOP AND JEWELRY (CORP.)

OVER 600 BILLER PARTNERS NATIONWIDE

  • 123 FINANCE CORPORATION
  • 123 LENDING CORPORATION
  • 2C2P
  • 8AMC (VIA ECPAY)
  • ABEJO WATERS CORP.
  • ABRA
  • ACOM CONSUMER FINANCE CORPORATION
  • ACTIVE REALTY & DEVELOPMENT CORP.
  • ADA MANUFACTURING CORPORATION (VIA ECPAY)
  • AEON CREDIT SERVICE
  • AETERNITAS CHAPELS AND COLUMBARIUM (VIA ECPAY)
  • AFC SME FINANCE INC
  • AFTERWEST MICROLOANS INC
  • AGODA – DRAGONPAY
  • AGRIBANK
  • AGRO-INDUSTRIAL FOUNDATION COLLEGE OF THE PHILS.
  • AGUSAN DEL NORTE ELECTRIC COOPERATIVE, INC.
  • AIR YOU GO TRAVELS PHILIPPINES CO.
  • AKLAN ELECTRIC COOPERATIVE, INC.
  • ALAMINOS CITY WATER DISTRICT (VIA ECPAY)
  • ALLIANZ PNB LIFE INSURANCE INC.
  • ALPHA FUND SAVINGS & CREDIT COOPERATIVE (VIA ECPAY)
  • AMADEO WATER DISTRICT (VIA ECPAY)
  • AMYA POLYTECHNIC COLLEGE, INC. AND FINANCING CORPORATION (LENDPINOY)
  • ANGAT WATER DISTRICT (VIA ECPAY)
  • ANGELES ELECTRIC COMPANY ANGELICUM SCHOOL , INC. ILOILO CITY (VIA ECPAY)
  • ANJELMAN REAL ESTATE LEASING
  • ANTIQUE ELECTRIC COOP, INC ANTRECCO (BILLS PAYMENT)

OVER 600 BILLER PARTNERS NATIONWIDE

  • 123 FINANCE CORPORATION
  • 123 LENDING CORPORATION
  • 2C2P
  • 8AMC (VIA ECPAY)
  • ABEJO WATERS CORP.
  • ABRA
  • ACOM CONSUMER FINANCE CORPORATION
  • ACTIVE REALTY & DEVELOPMENT CORP.
  • ADA MANUFACTURING CORPORATION (VIA ECPAY)
  • CREDIT SERVICE
  • AETERNITAS CHAPELS AND COLUMBARIUM (via ECPAY)
  • AFC SME FINANCE INC
  • AFTERWEST MICROLOANS INC
  • AGODA – DRAGONPAY
  • AGRIBANK
  • AGRO-INDUSTRIAL FOUNDATION COLLEGE OF THE PHILS.
  • AGUSAN DEL NORTE ELECTRIC COOPERATIVE, INC.
  • AIR YOU GO TRAVELS PHILIPPINES CO.
  • AKLAN ELECTRIC COOPERATIVE, INC.
  • ALAMINOS CITY WATER DISTRICT (via ECPAY)
  • CREDENCE FINANCING, INC.
  • CURAMED PHARMACY
  • DALTON PAWNSHOP AND JEWELRY INC.
  • DANIELA PAWNSHOP
  • DIRECT AGENT 5 (DA 5)
  • DEVELOPMENT BANK OF THE PHILS.
  • EXPRESSPAY INC.
  • EVRIJEM FOREIGN EXCHANGE AND MONEY REMITTANCE
  • FILHAI MULTI PURPOSE COOPERATIVE
  • GLOBAL PINOY REMITTANCE AND SERVICES (GPRS)
  • GEMARY PAWNSHOP AND JEWELRY (CORP.)

List of Accepted Government/ Valid IDs

  • Passport
  • Driver’s License
  • Professional Regulation Commission (PRC) ID
  • National Bureau of Investigation (NBI) Clearance
  • Police Clearance
  • Postal ID
  • Voter’s ID
  • Philippine Identification System (PhilSys) ID
  • Government Service Insurance System (GSIS) e-Card
  • Social Security System (SSS) ID
  • Senior Citizen’s ID
  • Overseas Workers Welfare Administration (OWWA) ID
  • OFW ID
  • Seaman’s Book
  • Alien Certification of Registration (ACR)
  • Barangay Certificate or ID (with picture and signature)
  • Birth Certificate (applicable to minors only)
  • Firearm License
  • Immigrant Certificate of Registration
  • Marriage License
  • National Council for the Welfare of Disabled Persons
  • New TIN ID
  • OWWA ID
  • Student ID
  • Alien Certification of Registration (ACR) / Immigrant Certificate of Registration
  • Government Office or Government Owned and Controlled Corporations (GOCC) ID (e.g. AFP ID, HDMF (Pag-ibig Fund) ID, etc.
  • Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
  • Department of Social Welfare and Development (DSWD) Certification
  • Integrated Bar of the Philippines ID (IBP)
  • Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP (Bangko Sentral ng Pilipinas), SEC (Securities and Exchange Commission) or IC (Insurance Commission)

IDs Accepted

As required by Bangko Sentral ng Pilipinas (BSP), clients who engage in a financial transaction with covered institutions for the first time shall be required to present the original and submit a clear copy of at least ONE (1) valid photo-bearing identification document issued by an official authority. For our clients’ convenience, Cebuana no longer requires submission of the photocopied ID. IDs are captured using a webcam in all branches. Clients are also required to submit an updated photo and other relevant information whenever the need for it arises.

Forms of identification accepted are the following;

Pawn Accepted IDs
1. Passport
2. Driver’s License
3. Professional Regulation Commission (PRC) ID
4. National Bureau of Investigation (NBI) Clearance
5. Police Clearance
6. Postal ID
7. Voter’s ID
8. Philippine Identification (PhilID) card
9. Social Security System (SSS) Card / Unified Multi-Purpose ID (UMID)
10. Barangay Certification
11. Government Service Insurance System (GSIS) e-Card
12. Senior Citizen Card
13. Overseas Workers Welfare Administration (OWWA) ID
14. OFW ID
15. Seaman’s Book
16. Alien Certification of Registration/Immigrant Certificate of Registration (for foreigners)
17. Government Office and GOCC ID, e.g., Armed Forces of the Philippines (AFP ID)
18. Home Development Mutual Fund (HDMF ID)
19. Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
20. Department of Social Welfare and Development (DSWD) Certification
21. Integrated Bar of the Philippines (IBP) ID
22. Company IDs issued by private entities or institutions registered with or supervised or regulated either by the Bangko Sentral ng Pilipinas, Securities and Exchange Commission or Insurance Commission
23. ID issued by the National Council on Disability Affairs (NCDA)