Bureau of Customs-Cagayan De Oro (BOC-CDO) signed a Memorandum of Agreement with Land Bank of the Philippines (LBP) on Nov. 24, 2021, at the Customs House in Brgy. Macabalan, Cagayan de Oro.
The signing was led by Atty. Elvira Cruz, District Collector of the Port, John Simon, MCT Sub-Port Collector, Mylene T. Famoso, Branch Head, LBP– Puerto CDO Branch and Junel Palahang, Salary Loans Bookkeeper.
Also present were officials of BOC namely Elizabeth Delas Llagas, Deputy Collector for Operations, Atty. Roswald Joseph Pague, Deputy Collector for Administration, Atty. Marlon Melodias, Deputy Collector for Assessment, SP/Capt. Abdila Maulana Jr., Commander, ESS CDO, Oliver Valiente, Chief, CIIS CDO Field Station, and Marvin Mison, Chief Assessment, CDO.
The MOA aims to extend financial assistance to employees thru a Livelihood Loan Facility with a maximum loanable amount of up to eight (8) months gross pay, provided that the amount of loan shall not be less than 20,000 pesos but not more than 1,000,000 pesos. The loan shall have a minimum term of six months and a maximum of sixty months with a monthly term divisor.
Cruz said the MOA is a huge help for employees as this will simplify loan applications with LBP for their livelihood projects.