Representatives from Parañaque's fisheries sector, the Bangko Sentral ng Pilipinas (BSP), BDO Foundation, and other stakeholders gathered at the Parañaque city hall to witness the launch of a financial education program. The initiative aims to equip local fisherfolk with the knowledge and tools to better manage their finances amid the challenges faced by the sector.
Challenges in the Fisheries Sector
Jose Cabanza, Jr., a fisherman from Barangay La Huerta in Parañaque, relies on fishing to provide for his family. He wakes up before dawn to prepare his equipment and heads to Manila Bay by sunrise. However, his earnings fluctuate due to environmental factors. "Pabago-bago po ang kita katulad ngayon, medyo may sama ng tubig, namamatay ang ibang tahong (My earnings fluctuate. Recently, some mussels are dying due to poor water conditions)," Jose said.
Partnership for Financial Education
The City Agricultural, Fisheries, and Aquatic Services Office of Parañaque, BSP, and BDO Foundation forged a partnership to address these challenges. Amie Hernandez, OIC of the Parañaque City Agri Office, emphasized the need for technical knowledge. "They need technical knowledge to improve their lives. This partnership actually seals that intention. And someday, our people will be more than capable of managing their financial capacity or their resources," she said.
The 3 Ps of Financial Education
BDO Foundation president Mario Deriquito shared the "3 Ps" that illustrate the program's essence: partnership, practical knowledge, and preparedness. "Kung marunong po ang mga tao na mamahala sa kanilang kinikita, nagiging matatag po sila (If people know how to manage their finances, they become resilient)," Deriquito said.
BSP Economic and Financial Learning Office director Marianne Santos lauded the partnership, stating, "This collaboration shows what is possible when the public and private sectors, such as BDO Foundation, work hand-in-hand for the good of our communities."
Launch Event
The program was launched at the Parañaque city hall, with leaders of fishing cooperatives, key stakeholders, and representatives from BSP and BDO Foundation in attendance. Parañaque City Mayor Edwin Olivarez and District 1 representative Eric Olivarez were also present.
Beneficiaries' Perspectives
Mary Jane Gutierrez, a vendor at Parañaque's Bulungan Seafood Market, expressed her hopes for the program. "Nag-iipon po kasi talaga kami mag-asawa pero sabi ko parang mas maganda may matututunan pa. Gusto ko po matutunan yung proper na pag-iipon sa bangko (My husband and I are already saving, but we want to learn more. I want to understand the proper way of saving in a bank)," she said.
BDO Pay Refer a Friend Promo
In a separate initiative, BDO Unibank Inc.'s BDO Pay launched the "Refer a Friend Promo," allowing users to earn cash rewards by inviting friends and family. Users can earn up to ₱1,000 per month through referrals. The process involves sharing a referral code, and both the referrer and referee receive ₱50 cash credits upon successful registration.
BDO Pay also offers convenient payment options, including QR payments, bill payments to over 2,100 billers with no fees, and free money transfers to other BDO accounts. Credit card holders can lock/unlock their cards, manage services, and earn rewards points. The app is available on iOS, Android, and HarmonyOS.
