News

Cooperative signs agreement with Bank of Commerce for ATM services

September 11, 2011

Members of the Del Monte Agrarian Reform Beneficiaries Cooperative in the Philippines may begin withdrawing their dividends and cash allowances from Bank of Commerce ATMs. The cooperative and the bank signed a service agreement last Friday, according to Business World Online.

“Under the terms of the Payment Crediting Servicing Agreement signed with the cooperative, the bank would provide the cooperative’s member-beneficiaries with ATM cards,” said Marisol M. Tan, head of the bank’s Cagayan de Oro-Lapasan branch. “This will enable (the cooperative’s members) to withdraw their dividends and other cash allowances anytime from an ATM machine provided by the bank at the cooperative’s head office in Camp Phillips, Manolo Fortich, Bukidnon.”

DEARBC has a  membership of 9,085 and assets totaling P326 million. Bank of Commerce was established in 1991 and has 122 branches nationwide.

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