Legazpi Savings Bank, a unit of Ayala-led Bank of the Philippine Islands (BPI), has partnered with North Eastern Mindanao State University (NEMSU) to extend loans to teachers and other personnel through an automatic payroll deduction scheme.
“With NEMSU on board, we continue to grow our network of partner State Universities and Colleges, bringing this offering closer to more academic communities,” Legazpi Savings Bank said.
The partnership expands the thrift bank’s use of its Automatic Payroll Deduction System (APDS), which allows eligible borrowers to repay loans directly through salary deductions.
Legazpi Savings Bank has provided financial assistance to 68,853 teachers nationwide and has focused its lending business on teachers and non-teaching personnel.
The bank traces its roots to 1976, when it was established in Legazpi City as Legazpi Savings and Loan Association Inc. It was acquired by Robinsons Bank, then part of JG Summit Holdings Inc., in 2012.
Legazpi Savings Bank became part of the BPI group following the merger of Robinsons Bank and BPI, which took effect on Jan. 1, 2024.
It is now set to merge with BPI Direct BanKo Inc., with BanKo as the surviving entity, on Oct. 1 after securing approvals from the Securities and Exchange Commission, Bangko Sentral ng Pilipinas and Philippine Competition Commission.
As of 2025, Legazpi Savings Bank operated 42 branches and branch-lite units nationwide, including 13 in the Bicol Region.
