1st Valley Bank introduced the "Wais Box" microsavings program in 1999 to generate low-cost deposits. The Wais Box is an improvised piggy bank made of cardboard that microsavers use to store small coins and bills. Over 45,000 boxes have been issued to market vendors, drivers, and students. As a result of Wais Box and other microsavings strategies, 1st Valley Bank has experienced tremendous growth in deposits, loans, assets, branches, and profitability from 1999 to 2010. The program has helped many small savers pursue livelihood, education, and consumption goals.

2. 1st Valley Bank, Inc.
www.1stvalleybank.com.ph
Wais Box
for wise savers
2

3. Why Bank joined MABS in 1999?
• Main objective of our President/CEO
then was to be able to adopt new
strategies on how to increase our
deposits... Got instead major benefits
in the form of improvement in
operational activities resulting in major
growth in deposits, loans and assets (as
you will see later).
1st Valley Bank, Inc.

4. Background of our Micro Savings:
• Introduced in 1999 to generate low-cost funds
• Dubbed Ang bangko sa panimalay
• A start-up microfinance product initially
offered in public markets before we
introduced our Micro Loans (helped us scout
for potential borrowers)
1st Valley Bank, Inc.

5. Wais Box
• an improvised piggy bank made of
cardboard with padlock whose key is kept in
the bank.
• serves as storage receptacle for small coins
and bills of micro depositors.
1st Valley Bank, Inc.

6. Various Designs of our Wais Box
1st Valley Bank, Inc.

7. How did we do it?
• Targeted public market vendors, sikad
drivers, other micro entrepreneurs who
received WAIS box for free
• Wais Kiddie savings: Partnered with DepEd to
promote savings to elementary & high school
students; held kiddie design contest with
P5,000 award to the winner.
• Introduced commitment savings (for a goal) to
test some behavioral aspects of saving
1st Valley Bank, Inc.

8. How did we do it?
• Displayed boxes in all branches
• Presented the boxes at every client orientation
• Budgeted for radio ads and flyers
1st Valley Bank, Inc.

9. How did we do it?
1st Valley Bank, Inc.

10. Results?
• Number of boxes issued: over 45,000
• Boxes are supplied by husband & wife
team, who are also our micro borrowers
• Bank-wide data of Wais savings:
Dec 2010 April 2011
No of accounts 39,749 41,616
Deposit balance P 43.1M P49.6M
1st Valley Bank, Inc.

11. Results?
• 1st Valley Bank has been reaping the
benefits of its savings mobilization strategy
 Expanded clientele base – loans and deposits
 130,278 deposit accounts worth P2.7 billion
(as of April 2011)
• Share of Micro deposit accounts: 92% of total #
 Gained trust of small as well as large savers
 Became a billionaire bank
 Increased branches from 6 to 23
1st Valley Bank, Inc.

12. Selected Bankwide Indicators
1999 Net Change
Performance Data (start of MF Dec.2010 1999 to
Operations) Dec2010
Branch offices 6 23 283%
No. of regular employees 79 332 320%
Total Resources P251.17 M P4.34B 1628%
Total Loans P217.02 M P 2.89B 1230%
Total Deposits P88.42 M P2.54B 2773%
Total Capital P46.99 M P557.5M 1086%
Net Income, after Tax P6.51 M P103.3M 1487%
1st Valley Bank, Inc.

13. Success stories of our micro depositors:
• Able to start livelihood project and buy piglets
by saving P25/day instead of buying 1 coke litro
• Able to repair kitchen or buy shoes by saving P10/
day instead of buying cigarettes
• Mothers are able to open accounts for their
children s education & other needs
• Able to save for fiesta expenses
• Able to save for cell phone upgrade or buy
another unit
1st Valley Bank, Inc.

14. THANK YOU
1st Valley Bank, Inc.