On August 8, 2006, Mr. Raul D. Balandra wrote a letter to the Madyaas Pen. Mr. Balandra is the president, Aklan Federation of Rural Banks and Confederation of Western Visayas Rural Banks. This is regionwide organization which aims, I surmise, is to develop and maintain the rural banks in Western Visayas as potent, progressive and effective instrument in economic development of the Philippines.
Mr. Balandra started his letter with "what happened to Cooperative Rural Bank of Aklan (CRBA) continues to grab our attention and has, in fact, became a major story of our broadcast and print media whose job raised the level of consciousness of the public on the case" Of course Madyaas Pen has never published any item concerning CRBA this year.
"The CRBA case also spawned other valid issues that nag the mind of our people such as how stable and trustworthy rural banks are as depository of "depositors" money. As a consequence, a member of our member banks have to contend with restless and jittery depositors who would, more often generalize and misjudge that all rural banks are in the same straits as CRB, thus face the specter of heavy withdrawal by depositors whose precipitate reaction is triggered more by the backlash of the CRB case than by normal need for cash," Balandra pointed out.
With this situation and scenario, it is normal for any bank depositor to worry of his deposit, observe what is happening to his depository bank. For any doubt, he is induced to withdraw whatever meager amount he has deposited in that bank. In Aklan, experience have taught lessons to bank depositors such as those of Libacao Rural Bank, ADB and Kalibo Rural Bank to mention some which collapsed. Kalibo Rural Bank was an institution in rural banking, history tells, but it collapsed too.
Mr. Balandra in behalf of the Aklan Federation of Rural Banks seeks the assistance of the members of the Aklan tri-media "that any complaint or information received from any individual or source regarding the "problem rural banks"…be first referred to the rural bank concerned or to Mr. Balandra in order to give bank management concerned to address the problem before the same is aired or published in the newspaper.
This request can easily be done, as it is being done now. However, information on any matter, especially if it concerns public interest can hardly be suppressed. What can a broadcast journalist or newspaper reporter do, if such management, rural bank for that matter, continued to do its way and defy public request? Lately, there is one "problem rural bank" in Aklan. Caution was given the management, why the bank cannot do instant withdrawal, but "just wait?" It did not even, give schedule of payment for the depositors’ money and for those who wished to withdraw. Members of the Aklan Tri-media neither brought this on air nor put it on print.
But depositors in Boracay Island resort themselves invited the media and informed them of their problem of withdrawing their money from that rural bank weeks after requests to withdraw money have been filed. Members of the Aklan Tri-media are responsible members of our community. They are aware of the consequences of negative publicity more especially of the rural banking system. Members of the press and all members of or society cannot over emphasize the importance of banking in our everyday life. Media is partner in progress and development. They are here and there to build and not to destroy.
The banks security officers, the information desk and bank tellers are the best information officers. They are the faces of a bank which reflects its culture. The manner of dressing, acting and talking with bank clients will develop, foster, and maintain trust and confidence of the clients toward the bank.
Trust and confidence cannot be earned and sustained by withholding any information from the clientele that concerns them. It is better to reveal the truth to sustain mutual understanding. It will be to the best interest of the bank should it released some information of particular importance to its depositors. Perhaps, the release of your bank statement is one of the information the depositors will like to read. The disclosure of asset and liabilities will further assure depositors the sturdiness of a bank.
It is heartening to note that you are considering the establishment of a "liquidity pool" to help bank in distress. This will further assure the bank depositors of the security of their money in the bank. That they deposited it at their own free will, so they may withdraw it in time of urgent needs.
On the part of Madyaas Pen, let it be conveyed that utmost care, diligence and understanding will be given in the treatment of information regarding bank operations. /MP mailto:madyaass_pen@yahoo.com
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