Senate bet Chavit eyes credit cards for masses

MANILA, Philippines — Former Ilocos Sur governor Luis “Chavit” Singson has officially joined the Senate race in May 2025 as he filed his certificate of candidacy (COC) yesterday and announced his pet program of establishing a “Banko ng Masa” and providing credit cards to all Filipinos 18 years and above.

Singson was among the senatorial aspirants who trooped yesterday to the Manila Hotel Tent, where the Commission on Elections (Comelec) is accepting COCs from aspirants for elective posts.

As a governor, Singson said he helped make Ilocos Sur the fifth wealthiest province in the country.

He said his plan to establish a Banko ng Masa and provide credit cards to every adult Filipino would address the financial exclusion of millions of Filipinos.

Singson said every Filipino age 18 years and above regardless of gender, religion and economic status would be given a bank account and credit card.

He said his proposal, if implemented, would also benefit millions of overseas Filipino workers.

He noted that 77 percent of Filipinos are without bank accounts while 95 percent are without credit cards.

“That’s what I’m going to do, win or lose, to help our countrymen prosper. The economy moves because money is in the banks,” he said in Filipino.

“People usually keep money under the pillow. If it gets lost, there’s trouble. If you’re just clutching it in your hands, it can get thrown away. So what I’ll be doing can help – and I can do it more easily if I get elected as senator,” he said.

The former governor said he also decided to run for a national post so he can push for modernization of the country’s transport industry. “This has long been a program of the government but it can’t take off,” he said, referring to transport modernization.

Singson said he would be offering interested drivers electric vehicles at lower prices at zero interest, and without downpayment or collateral, with local government officials or cooperatives serving as guarantors.

The mass production of e-vehicles is set to start in December, with each costing only P1.2 million or more than 50 percent cheaper than other models.

He admitted he would be losing money by offering the e-vehicles at a much lower price, but stressed he would do it to help poor people.