LANDBANK, Naga City expand financial access for solo parents through PISO account

NAGA CITY, Camarines Sur — Nearly 500 solo parents in Naga City now have a direct, secure, and cash-lite channel for receiving government assistance, as LANDBANK and the City Government of Naga advance the opening of LANDBANK PISO (Perang Inimpok Savings Option) accounts to support the City’s social protection initiatives for solo-parent beneficiaries.

Former Vice President and Naga City Mayor Atty. Maria Leonor “Leni” G. Robredo and LANDBANK President and CEO Lynette V. Ortiz formalized the partnership on 29 April 2026 through a Memorandum of Agreement (MOA). They were joined by City Treasurer Maria Socorro R. Gayanilo, City Legal Officer Atty. Angel R. Ojastro III, and LANDBANK Executive Vice President Marilou L. Villafranca.

The initiative integrates solo parents into the formal banking system by enabling allowances under Naga City’s social protection programs to be credited directly to individual accounts. Designed specifically for unbanked and underserved Filipinos, the LANDBANK PISO Account lowers ownership barriers with a minimum initial deposit requirement of just ₱1.00.

By shifting away from traditional cash-based transactions, the partnership ensures a faster, safer, and more transparent disbursement process, with Mayor Robredo noting that these digital disbursements not only enhance efficiency but also uphold the dignity of beneficiaries.

“Our solo parents carry immense responsibility every day, balancing the roles of both provider and caregiver,” said Mayor Robredo. “True social protection means bringing everyone into the center of development. For many vulnerable Nagueños, having a formal bank account has long been out of reach. This partnership with LANDBANK breaks down barriers, expands financial access, and ensures the efficient and timely delivery of assistance directly to those who need it most.”

LANDBANK President and CEO Lynette V. Ortiz emphasized the Bank’s role in supporting local government units in delivering more responsive social services.

“By aligning LANDBANK’s development mandate with the City Government’s social protection initiatives, we help ensure that financial assistance reaches solo parents faster, more safely, and with greater transparency. Through the PISO Account, we are widening access to basic banking while supporting LGUs in strengthening how assistance is delivered at the community level,” said President and CEO Ortiz.

Impact on the Ground

With the city government having begun the direct crediting of allowances, local solo parents are already experiencing the benefits of financial inclusion. For Naga beneficiaries like Minda Refugio Serrado –  a solo parent who works part time offering home service manicures and pedicures – the PISO Account has empowered her to practice better financial management.

“With my PISO Account, I can now save my entire social pension. I rely on what I earn from my manicure and pedicure services for my daily needs, so every centavo of my pension goes straight to savings,” Serrado shared.

The partnership amplifies LANDBANK’s position as the local government sector’s trusted development partner, deepening financial inclusion and enhancing the delivery of critical public programs for the country’s most vulnerable communities.