Wednesday, July 6, 2011
BANGKO NG PANGINOON (The Lord's Bank)
1. What is Bangko ng Panginoon?
Bangko ng Panginoon is a financial institution and operates like any savings bank. It aims to collect fund through tithes and generous donations. While others save money in the ordinary bank for their own needs and security in the future, depositing in the Bangko ng Panginoon is purposely saving for the needs of others, especially the neediest of the needy, those who are less fortunate in life.
2. How does the Bangko ng Panginoon build up its fund?
Bangko ng Panginoon generates fund thru: a. Regular Saving. One can save thru the 3S way: Sacrifice, Save and Share. b. Tithing/Monthly Pledge. c. Donations/Voluntary Contributions.
3. How does the Bangko ng Panginoon operate?
Money deposited in the Bangko ng Panginoon cannot be withdrawn anymore. It is already owned by the Lord, and to be disposed in favor of the needy brothers and sisters.
4. How does the Bangko ng Panginoon help the poor?
The funds collected by the bank shall be used as:
- financial aid to the needy to purchase food, medicines, clothes and other basic needs.
- as seed money or capital for any livelihood or enterprise to help the poor uplift their lives.
- emergency aid in times of calamities.
5. How to be a depositor in the Bangko ng Panginoon?
It is easy to be a depositor in the Bangko ng Panginoon. Just simply fill up the application form and submit it together with any amount as initial deposit. There is no required amount to open an account. Like savings in a bank, Bangko ng Panginoon will issue a passbook.
6. Who manages the Bangko ng Panginoon?
If the Bangko ng Panginoon is parish-based; it is the parish that manages.If the Bangko ng Panginoon is organized by the BEC or any community-based, from among the depositors-members of the community, the manager and other officers shall be selected. There shall be a Board of Directors elected by all the depositors-members. All the officers and those people working at the Bank shall receive no remuneration.