RANG-AY BEGINNINGS

Rang-ay Bank first opened its doors to the public as duly-established and licensed bank in January 16, 1956.

 

The first private bank to open in La Union, Rang-ay started as a single-unit rural bank with only four employees.

In the early years, the average loan was P500 but it was easier then to collect loan payments from farmers due to the boom in the Virginia Tobacco industry.

In 1962, the bank was granted authority to accept demand deposits, making it one of the first rural banks in the country to offer such a facility.

In 1972, the Central Bank authorized the bank to act as a foreign exchange dealer, enabling it to cater to the needs of the growing number of oeverseas contract workers and families of migrants.

From the very start, Rang-ay Bank has been very supportive of government financing programs such as the Agricultural Loan Fund (1972), Masagana 99, Masaganang Maisan (1973), and Integrated Agricultural Farming Program (1975).

In 1974, Rang-ay became one of the leading financial institutions granting loans to SMEs under the Industrial Guarantee Loan fund (IGLF).

In 1976, Rang-ay Bank started branching out by opening its first extension office at the site of what is now the Old Market of San Fernando.

Rang-ay Bank was the first rural bank to computerize its operations in 1978, enabling it to compute interest daily without failure or error.

The bank's Head Office moved to its present site at the Nisce-Querol Building on Gov. Luna St. on December 8, 1981.

Dagiti pundador ti Rang-ay Bank (agpakanawan): Doña Numeriana Tavora-Querol ken daydi kaingungotna a Dr. Antonio Querol, Don Teofilo Nisce, Abogado Rodolfo Nisce nga ama ni Ives ken Mrs. Eufrosina Nisce (kaingungot daydi Rodolfo).