SSS cites ONB as best collecting, paying partner among rural banks

MANILA, Philippines - The Social Security System (SSS) has recognized the One Network Bank (ONB) as the Best Collecting Rural Bank and Best Paying Rural Bank. 

The award was part of the SSS Balikat ng Bayan Awards launched during the government pension fund’s 55th anniversary. 

The SSS Balikat ng Bayan Awards has been recognizing top private employers, banks and financial institutions and their valuable partnership with SSS in providing meaningful social security protection to every Filipino since 1995. 

The distinction of best collection partner is given to financial institutions with consistently highest collections, biggest transaction volume and widest coverage. The best paying partner is awarded to financial institutions that are exemplary in paying out SSS benefits to members. 

ONB earned the distinction of Best Collecting Rural Bank for servicing a monthly average of P10 million in 2011 which corresponds to a record volume of 5,000 transactions coursed through its wide branch infrastructure. 

At the same time, the bank is consistent in submitting collection documents on time without any incidence of under transfers. 

And as Best Paying Partner, ONB served more than 16,000 pensioners which translate to a monthly average of P42-million pension disbursement. ONB is also compliant with its SSS obligations as employer. 

ONB collects SSS and PhilHealth premiums, in addition to telecom bills and tuition fees, through its PeraBayad bills payment facility. 

PeraBayad is a value-added service offering quick and convenient payment options for individuals, companies and institutions in the rural areas.  It is available in all of ONB’s 86 branches and will also be offered soon in the first five ONB MicroBranches in Davao City, namely in: Cabantian, Catalunan Grande, Sasa, Bunawan and Sandawa. 

ONB operates with a total of 126 onsite and offsite PeraAgad ATMs. The bank has an ongoing merger application with RB of San Enrique in Iloilo which has existing six offices in Iloilo province soon to be absorbed by ONB. This allows the bank to score a potential total network of 97 branches all over the country by 2013, yet another promising feat for the giant in the rural banking industry.