CitySavings expands high-yield savings, financial literacy push

City Savings Bank is strengthening its deposit generation strategy through higher-yield savings products and an expanded financial literacy campaign, as it seeks to boost financial resilience among mass-market clients amid continued economic uncertainty.

The thrift bank, part of Union Bank of the Philippines of the Aboitiz Group, said it is encouraging disciplined saving as a foundation for long-term financial stability, particularly among teachers, uniformed personnel and local government workers.

“Savings represent more than just money set aside — they represent peace of mind, opportunity, and the foundation for achieving life’s most important goals,” said CitySavings president and chief executive officer Manuel G. Santiago Jr..

To support this, the bank is promoting products such as its Power Savings account, which offers up to 4 percent annual interest, positioning it as a tool for clients to grow funds more efficiently compared to traditional deposit accounts.

CitySavings said stronger savings accumulation at the household level can translate into broader economic gains through higher domestic liquidity and increased capacity for local investment.

“When our clients succeed financially, entire communities benefit. Higher savings rates lead to increased local investment, job creation, and overall economic stability,” Santiago added.

Alongside deposit products, the bank is expanding its financial education efforts through Project ₱er@parasyon (PeraParasyon), its corporate social responsibility program focused on practical wealth management. Since 2016, the initiative has conducted more than 1,700 training sessions nationwide, reaching nearly 132,000 participants, including public sector workers, according to details on page 2 of the release.

The lender said the program supports its broader push to deepen financial inclusion while strengthening engagement with underserved sectors. It is also repositioning its branches as “Bangko ng Barangay” hubs to improve access to basic banking services.