UCPB Customer Relations Center (+632) 8811-9111   |   crc@ucpb.com   |  

Updated FAQs on the Merger

The following are answers to frequently asked questions related to the upcoming merger between UCPB and LANDBANK.

For further questions or concerns, please do not hesitate to get in touch with your UCPB servicing unit/officer or Customer Relations Center at crc@ucpb.com.

A. What is the status of the regulatory approvals to effect the merger?
In accordance with Executive Order No. 142 signed by President Rodrigo Roa Duterte, the merger between LANDBANK and UCPB has been endorsed by the Governance Commission for GOCCs, approved by Monetary Board of the Bangko Sentral ng Pilipinas, consented to by the Philippine Deposit Insurance Corporation, and approved by the Securities and Exchange Commission (SEC) pursuant to the Certificate of Approval of the Articles and Plan of Merger issued by the SEC.
B. When did UCPB shareholders approve the merger plan with LANDBANK?
UCPB shareholders approved the merger plan with LANDBANK during its stockholders’ meeting on December 14, 2021. The shareholders—representing 97.2% of UCPB’s total outstanding capital stock—voted in favor of the Plan of Merger and Articles of Merger between UCPB and LANDBANK.

The move further advances the ongoing fusion of the two government banks into a unified and stronger institution for promoting inclusive and sustainable development.

C. What will happen to the new UCPB Board once the merger takes effect?
Upon the effectivity of merger, the UCPB and its Board of Directors will cease to exist.
D. What is the timeline of the merger?
The legal merger between UCPB and LANDBANK shall become effective on March 1, 2022.
1. What will happen to UCPB?
The UCPB will be merged into the Land Bank of the Philippines (LANDBANK) and once the legal merger is completed, it will take on the name of “Land Bank of the Philippines,” being the surviving entity.

UCPB clients are assured that banking services will continue to be unhampered throughout the merger process, with deposits remaining intact and secured in their respective servicing branches.

2. Will UCPB clients' money remain safe when the merger takes place?
All deposits and investments entrusted to UCPB will remain safe and secured. UCPB will continue to uphold and protect depositors’ rights throughout the merger process. The services will also remain to be unhampered.
3. How will the merger affect UCPB's focus in terms of target market?
The merger will allow UCPB and its clients to benefit from the strength, stability, scale and reach of LANDBANK. UCPB will be a part of a bigger institution that caters to a wider base of clientele, including the other segments of the agricultural value chain.
4. Will UCPB's culture of customer service remain?
LANDBANK will continue to provide personal and proactive service to UCPB clients and endeavor to make the transition seamless, including the processing of transactions.
5. Will the merged bank prioritize government transactions?
During the transition and even after the merger is completed, LANDBANK will continue to serve all clients, including government agencies, and provide them with the same level of personal and proactive service.

The merger will be beneficial to existing UCPB clients because they can access the bigger branch and ATM networks of LANDBANK, and will be able to avail themselves of a wider range of products and services.

Branch Banking Operations
6. What will happen to the UCPB deposit account?
The UCPB account will be converted to LANDBANK account. LANDBANK will send letters or emails and text messages to the clients about the migration to inform them where and when to claim their new ATM/passbook/CTD/checkbook, and other evidence of deposits.
7. Do clients need to fill up forms for the newly converted LANDBANK accounts?
No. UCPB clients are not required to fill-up LANDBANK account opening forms. However, they are encouraged to update their Client Information online(https://dobs.landbank.com/DOBS/home/applyNow) prior to visiting their LANDBANK Servicing Branch for the release of their ATM/passbook/CTD/checkbook, and other evidence of deposits for their new LANDBANK accounts.
8. Will the UCPB account number be changed?
Yes. The UCPB account numbers will be converted and migrated to LANDBANK account numbers based on the equivalent type of account.
9. What will happen to the issued checks for loan payments?
UCPB clients’ issued checks for loan payments will be accommodated for a certain period. They will be notified up to when the checks will be accommodated and should there be a need to issue new checks.
10. Will their payroll account still be maintained?
LANDBANK and UCPB shall communicate with the institutional clients/employers to discuss and execute the needed Memorandum of Agreement. The UCPB payroll account will be converted and migrated to the LANDBANK payroll account.

LANDBANK will send letters or emails notifications and text messages to the clients about the migration to inform them where and when to claim their new ATM card.

11. Will the UCPB CheckStarter Account with only P1,000.00 maintaining balance be retained?
The UCPB CheckStarter Account will be converted to LANDBANK regular checking account. LANDBANK maintaining balance and minimum required ADB for a regular checking account is P5,000.00 for individual clients and P10,000.00 for institutional clients. A service fee of P200.00 will be charged for checking accounts falling below ADB requirement for two (2) consecutive month-end and every month-end thereafter.
12. Will the UCPB Start2Save Junior Savings Account evidenced by passbook and ATM card and with initial deposit and minimum ADB requirement of P100.00 be retained?
The UCPB Start2Save Account will be converted to LANDBANK regular ATM savings account. However, LANDBANK passbook will no longer be issued to account holders. LANDBANK maintaining balance and minimum ADB requirement for an LANDBANK regular ATM savings account is P500.00. A service fee of P200.00 will be charged for savings accounts falling below ADB requirement for two (2) consecutive month-end and every month-end thereafter.
13. Will the UCPB Multi-One (All-in-One Savings and Checking Account with ATM and Passbook) with initial deposit and minimum ADB requirement of P20,000.00 be retained?
The UCPB Multi-One Account will be converted to LBP Peso E.A.S.Y. (Earning Access and Sure Yield) Check with ATM Access Account. However, LBP passbook will no longer be issued to account holders. LBP maintaining balance and minimum ADB requirement for this account is P10,000.00. A service fee of P200.00 will be charged for checking accounts falling below ADB requirement for two (2) consecutive month-end and every month-end thereafter.
14. Will the UCPB Regular Savings Account with ATM and Passbook with initial deposit and minimum ADB requirement of P10,000.00 be retained?
The UCPB Regular Savings Account with ATM and Passbook will be converted to LANDBANK Regular Passbook Savings Account. However, LANDBANK ATM card will no longer be issued to account holders. LANDBANK maintaining balance and minimum ADB requirement for this account is P10,000.00. A service fee of P200.00 will be charged for savings accounts falling below ADB requirement for two (2) consecutive month-end and every month-end thereafter.

Clients may opt to open a separate LANDBANK ATM savings account with a maintaining balance and minimum ADB requirement of P500.00.

15. Can UCPB clients expect the same kind of service even if their branch of account be migrated to LANDBANK?
UCPB clients are assured that they will be provided with excellent LANDBANK customer service and access to all LANDBANK products and services and e-banking channels, with extensive touchpoints of 489 branches and branch-lite units, and 58 lending centers nationwide.
16. Can UCPB cardholders now withdraw at LANDBANK ATMs with no charges?
The charges for cash withdrawals of UCPB cardholders at LANDBANK ATMs will still apply. However, once the UCPB accounts are converted/migrated to LANDBANK, withdrawals using the new LANDBANK ATM cards will be free of charge at LANDBANK ATMs.
17. Will the UCPB salary loan accounts be the same (terms, mode of payment, etc)?
UCPB salary loans will be retained with its original terms and conditions until its maturity date. Upon renewal of salary loan, LANDBANK existing loan terms and conditions and policies will be applied.
18. What will happen to UCPB pension account?
The UCPB pension account will be converted to LANDBANK pension account. Pensioners must comply with the new pension account reporting to their respective Agency (i.e. SSS, AFP, PVAO, etc.) to avoid delay in crediting of monthly pension.
19. What will happen to deposit and loan accounts of UCPB clients who are abroad?
The UCPB deposit and loan accounts will be converted to LANDBANK deposit and loan accounts. LANDBANK will send letters, email notifications and text messages to the clients about the migration to inform them where and when to claim their new ATM/passbook/CTDs/checkbooks and other evidence of deposits upon return from abroad.

However, clients who are abroad can contact their LANDBANK servicing branch (www.landbank.com/find-us) and are encouraged to update their account information using the LANDBANK DOBS Online.

20. What will happen to their UCPB online banking access?
UCPB Retail Online Banking will be migrated to the LANDBANK system. For initial log-in, clients must use their UCPB user ID. A default password will be used but will be required to change upon initial log-in to the LANDBANK’s retail internet banking facility.

For UCPB Institutional Internet Banking (i.e. CMBiz, BIR ETPS, ePayment Portal), this will be manually enrolled using the existing enrollment forms submitted by the institutions to UCPB.

21. If a UCPB client has a Third Currency Account, will this be retained?
UCPB clients with Third Currency Accounts may still transact with their UCPB Branch of Account until the official merger takes effect on March 1, 2022. After which, the clients will be advised to convert their account to a peso or dollar account at LANDBANK.
22. Will the deposit pick-up (DPU) services still continue once the merger is effected?
Deposit pick-up services will continue and will not be hampered upon merger. However, all DPU arrangements will be subject for evaluation/review six (6) months from the conversion of the servicing branch, based on existing LANDBANK parameters.
23. For clients with existing Safety Deposit Box (SDB) rental, will they still be able to use their SDB?
UCPB clients will still be able to use their SDB. However, all SDB arrangements will be subject for evaluation/review six (6) months from the conversion of the servicing branch, based on existing LANDBANK parameters. UCPB clients with SDB arrangements at UCPB branch which will be closed/merged with LANDBANK branch will be notified and referred to the nearest LANDBANK branch with SDB facilities.
24. What other LANDBANK products and services can a client avail other than his/her existing deposit account?
LANDBANK has a wide array of LANDBANK products and services to suit its customers’ banking needs which are available in all 489 LANDBANK branches and branch-lite units nationwide and 58 lending centers, and through e-banking channels.

For the list of LANDBANK deposit products and services, the clients may visit the LANDBANK website at www.landbank.com.

25. How can clients using the UCPB facility for BIR payments make use of the LANDBANK ETPS?
UCPB institutional clients will be enrolled in LANDBANK’s ETPS using the submitted forms to UCPB by the institutions.
26. Will LANDBANK close some UCPB Branches?
Yes. Some UCPB branches will be merged with existing nearest LANDBANK branches. An official list of branches that will be retained/merged/closed, with their new branch name, address and contact details, will be announced to the public.
27. For clients currently paying Pag-IBIG contributions and other payables thru UCPB, will they be able to continue enjoying the same facility with LANDBANK? Do they need to re-enroll?
Pag-IBIG contributions are available in LANDBANK Corporate Internet Banking Facility—the weAccess. If currently enrolled in UCPB’s CM.Biz, LANDBANK will use the submitted form of the institution to UCPB for the enrollment to the Pag-IBIG bills payment module via the LANDBANK weAccess facility.
28. On current accounts, can UCPB clients still use their checkbooks on hand?
Yes. UCPB clients can still use the checkbooks on hand until the conversion of UCPB servicing branches to LANDBANK. All clients will be issued with LANDBANK checkbooks once their current accounts are converted to LANDBANK. Absorbing LANDBANK branches shall coordinate with UCPB current account holders for the immediate issuance of new LANDBANK checkbooks.
29. Can UCPB Cash Cards of HDMF members still be used for loan availments?
Yes. Existing UCPB Cash Cards can still be used for HDMF loan availments until new LANDBANK cash cards are issued as replacement by the HDMF.
30. For UCPB clients who are currently viewing their Bank Statements in MT940/MCF (Multi-Cash Format) via email, will they still enjoy this feature?
Yes. LANDBANK will continue to provide this feature. The bank statement in the MT940/MCF may be downloaded using the LANDBANK weAccess.
31. What will happen to UCPB accounts currently enrolled in the auto-charge facility? Are the clients required to re-submit any document?
UCPB clients may still use the auto-charge facility until the conversion of UCPB servicing branches to LANDBANK. Once migrated, clients may enroll in the LANDBANK iAccess and Mobile Banking App for bills payment.
Lending Operations
32. What will happen to the loan numbers?
Majority of loan numbers will stay the same. However, there are just a few exceptions. These select customers will be notified of the change to their loan number.
33. What will happen to the following existing loans and related contracts or agreements:
i. Consumer loans, loan facilities, contracts and agreements

All will continue to be maintained, honored and implemented. Clients will be advised accordingly if there will be changes in the future.

ii. Home or auto loan of the second owners of the properties

Existing terms and conditions of the transferred loan accounts will be honored by LANDBANK.

34. Will there be any changes in the terms and conditions of the following?
i. Interest rate

The interest rate will remain the same.

ii. Credit insurance

Coverage of the insurance will continue until further notice.

iii. Automatic Debit Arrangement (ADA)

The ADA for consumer loan payments will continue to be processed. Clients will be advised accordingly if there will be changes in the future.

iv. Payments for loan amortization

Payments for loan amortization should still be coursed through the former servicing UCPB branch of account, which will be renamed as a LANDBANK branch. Clients will be advised accordingly if there will be changes in the future.

35. What will happen to the newly approved loans of UCPB once the merger is in effect?
It will be processed and documented with LANDBANK as the lender.
36. What will happen to loan requests currently in progress?
The loan requests will be processed through the usual procedures of LANDBANK.
37. Could UCPB accountholders still issue checks or post-dated checks?
Yes, they can still issue checks against their UCPB checking account. UCPB checks issued by the UCPB borrowers shall be honored and transacted within two (2) years from the legal merger.
Treasury and Investments
38. What will happen to the client's existing treasury investments with UCPB? Will their settlement account change due to the merger?
Upon the legal merger, the client’s existing treasury investments with UCPB will be transferred and mainstreamed to LANDBANK who will handle and manage the investment. The client’s existing investment settlement account with UCPB will eventually be migrated to a LANDBANK deposit account. The branch account representative will be coordinating with the client once his/her LANDBANK account number is created.
39. How will the clients place new treasury investments upon merger?
Upon legal merger, the clients need to visit any LANDBANK branch if they are willing and interested to place new treasury investments. They will be required to open a settlement account and submit all the required documents or they may opt to use their existing UCPB settlement account that was transferred/migrated to LANDBANK deposit accounts and a new LANDBANK account number has already been created.
40. If a client wants to sell his/her current treasury holdings, who should the client get in touch with?
Prior to the legal merger, all UCPB fixed income investors shall continue to be serviced by the UCPB Fixed Income Sales Department (FISD). After the legal merger, all investors have to get in touch with the assigned Treasury Sales Officer of the LANDBANK Treasury Brokering and Marketing Unit (TBMU) for the needed services and assistance.
41. What is the evidence of a client's investment through LANDBANK?
This depends on the type of investment of the client.

• For Government Securities (GS), they will be issued a Confirmation of Sale (COS) indicating that no certificates are issued to the investors because ownership of GS are recorded in the Bureau of Treasury’s National Registry of Scripless Securities (NRoSS) under the investor’s name.

• For Corporate Securities (CS), a Registry Confirmation (RC) coming from the third party-custodian like PDTC will be issued to the investor.

42. Do fixed income treasury clients need to pre-terminate their investment with UCPB because of the merger?
UCPB fixed income treasury clients have the option either to pre-terminate or sell their existing investment before the merger or just maintain it, which will form part of the investment accounts that will be transferred by UCPB to LANDBANK upon the legal merger.

Once transferred, all new placements/pre-termination/selling in the secondary market and the like shall be handled by LANDBANK TBMU.

43. Do clients need to update their documentary requirements upon transfer of their investment account with LANDBANK?
For purposes of complying with the necessary requirements of regulators as a result of the merger, some documentary requirements need to be updated/submitted (e.g. Client Suitability Assessment, BTRs Investors Undertaking and SPA/Authorization, Client Agreement, and others).

Upon legal merger, all documentary requirements of UCPB fixed income clients shall be transferred and safe kept by LANDBANK. Any lacking documents as required shall be requested from the client and shall be submitted to LANDBANK by the client.

44. A UCPB client is interested to invest in Fixed Income Securities (e.g. GS, CS) before the legal merger to LANDBANK. Is it possible to invest already and should he/she contact UCPB FISD or LANDBANK TBMU for assistance?
Yes. Any UCPB client can already invest thru LANDBANK even before the legal merger. The client or UCPB FISD can contact LANDBANK TBMU for assistance. The client will be treated as a new client/investor and will be required to comply with the requirements (e.g. LANDBANK investment settlement account and documentary requirements).

The investment transaction will be recorded/booked in the LANDBANK’s Integrated Treasury System (ITS) and shall not form part of the UCPB Investment Accounts that will be transferred/mainstreamed to LANDBANK upon the legal merger.

45. A client would like to invest in fixed income securities through LANDBANK. How can the client open a settlement account with LANDBANK?
Since all investors will be required to open an account that will be designated as their settlement account for their planned investments, all would-be investors/clients need to visit any LANDBANK branch near their area. The concerned LANDBANK Branch will be their designated servicing branch and all proceeds from their investments (e.g. coupon payments and principal) will be credited to their settlement account.

Also, all documentary requirements and other concerns will be coursed thru their LANDBANK servicing branch for verification and endorsement to LANDBANK TBMU for the necessary assistance and services.

46. Will the client's settlement account for FX transactions change due to the merger?
The client’s existing settlement account with UCPB will eventually be migrated to a LANDBANK deposit account. The client’s branch of account representative will be coordinating with them once their LANDBANK account number has been created.
47. How will the client purchase or sell FX upon merger?
The client may proceed to their branch of account or get in touch with their account officer for their FX requirements. Further, they need to accomplish the necessary forms and submit these together with supporting documents, if necessary.
48. What are the available FX products being offered by LANDBANK?
LANDBANK offers FX spot (value today or same day settlement) to existing depositors.
49. A client has an existing Investment Banking transaction with UCPB. What will happen to that transaction?
Generally, the LANDBANK Investment Banking Group (IBG) will substitute for UCPB in the transaction, subject to the consent of, and agreement by both LANDBANK and the client. Fortunately, the existing transactions of UCPB also involve LANDBANK; thus, continuity is assured and there will be a turnover arrangement between the two banks.
Trust Operations
50. How will the LANDBANK and UCPB merger affect the client's trust account/s and investment/s?
All UCPB trust accounts shall be transferred to LANDBANK once the merger is implemented.

Pending the effectivity of the merger, the management of UCPB accounts and their respective investments will continue to be handled by UCPB Trust. On the other hand, LANDBANK Trust accounts will not be affected by the merger activities.

LANDBANK-Trust and UCPB Trust will work together in providing unhampered trust services to their clients for a smooth and successful transition.

51. What are the benefits of the merger to trust clients?
Both UCPB and LANDBANK trust clients can take advantage of the economies of scale when it comes to their investments.

An increase in Assets Under Management (AUM) may mean that trading cost per peso is lower while potentially higher returns and interest rates may be realized due to the higher volume.

Trust clients will also benefit from the wider reach of LANDBANK through its branches responding to trust account concerns.

52. Whose policies and processes will apply and to be retained when it comes to client's trust account/s? UCPB Trust or LANDBANK-Trust?
LANDBANK-Trust’s organizational structure, policies, and processes shall be applied and retained.
53. Will UCPB trust account/s be closed because of the merger?
No, UCPB trust accounts will not be closed because of the merger. These accounts will be transferred to LANDBANK-Trust.

Transactions relative to the client’s account with UCPB Trust will be unimpeded and will be accessible through UCPB’s channels until further notice.

54. Do clients need to withdraw/redeem their investment/s because of the merger?
No. Clients do not need to withdraw/redeem their investment/s with UCPB or with LANDBANK because of the merger.

Investment activities will remain and continue as long as clients will not withdraw/redeem or close their trust account.

55. Do clients need to submit other documentary requirements upon their trust account's transfer to LANDBANK? Do they also need to update their account?
Yes, all clients’ information must be updated in compliance with the Bangko Sentral ng Pilipinas – Manual of Regulations for Banks (BSP-MORB). Clients should communicate with UCPB Trust for the updating of their account’s information and other documentary requirements.

Once the merger takes effect and trust accounts have been transferred, existing documentary requirements of UCPB trust clients will be kept and recorded by LANDBANK-Trust. Any lacking documentary requirement shall be submitted to LANDBANK-Trust.

56. Who will manage the client's trust account/s upon merger? Will they be assigned the same trust account officer/team who handles their UCPB trust account?
Once the merger is completed and trust accounts are migrated to LANDBANK, the LANDBANK Trust Account Management Department (TrAMD) will manage, maintain, and service the UCPB trust accounts. Clients or trust accounts will be assigned a new trust account officer/team.

UCPB trust accounts will be managed according to the standards set under applicable BSP rules and regulations.

57. Will there be an adjustment on the trust fees of accounts?
The provisions of the existing agreements involving UCPB Trust accounts relating to their trust fees will continue to be observed.

Once the merger takes effect, the trust fees of migrated accounts will be reviewed and aligned/revised, if needed.

Any change in the fee structure will be relayed to trust clients for review and approval.

58. What will happen to the client's settlement account in UCPB? Is it going to be transferred to LANDBANK?
New settlement accounts will be opened with LANDBANK upon the migration of UCPB trust accounts.

All clients will be informed accordingly of the details of their new settlement account once available.

59. What if a client wants to withdraw his/her investments with UCPB Trust?
For redemption of investments or withdrawal of clients, they may seek assistance with UCPB Trust or with any UCPB branch.

Until the merger’s effectivity date, withdrawals or redemption of investments will continue to be processed by UCPB Trust.

60. A client is interested in opening a trust account with UCPB. Should he/she contact UCPB Trust or LANDBANK-Trust for assistance?
The client may contact UCPB Trust or any UCPB branch for assistance in opening a UCPB trust account. Until the effectivity of the merger, trust transactions will continue to be processed by UCPB Trust.
61. Can clients access their Unit Investment Trust Fund (UITF) in the LANDBANK Mobile Banking App (MBA)?
Not yet. UCPB UITFs will need to undergo product assessment once the merger is implemented. Availability of the said products in the LANDBANK MBA will be part of the assessment.
Subsidiaries
62. Are UCPB Savings Bank, UCPB Leasing and Finance Corp. and UCPB Securities part of the merger?
UCPB Savings Bank, UCPB Leasing and Finance Corp. and UCPB Securities are not part of the merger on March 1, 2022 and will continue to operate separately for the time being.

Date updated: February 22, 2022


Frequently Asked Questions on the Merger

The following are answers to frequently asked questions related to the upcoming merger between UCPB and LANDBANK.

For further questions or concerns, please do not hesitate to get in touch with your UCPB servicing unit/officer or Customer Relations Center at crc@ucpb.com.

1. What is the reason for the merger and how will this benefit the clients?
The merger of LANDBANK and UCPB will allow the National Government to have a stronger, more resilient and unified banking institution in promoting inclusive and sustainable rural development and broadening financial inclusion among Filipinos, especially those in the countryside who belong to the underserved and unbanked sectors.

The merged bank will have a wider network of touch points in the countryside, thus providing more convenient banking services to farmers and fishers, including the coconut farmers.

The merged bank will have stronger financial muscle and technical expertise to expand its agricultural loan portfolio, including loans to coconut farmers.

2. What is the timeline of the merger?
The legal merger between UCPB and LANDBANK shall become effective on March 1, 2022.
3. What will happen to UCPB?
UCPB will be merged into Land Bank of the Philippines (LANDBANK) and after that process is completed, it will take on the name of LANDBANK, being the surviving entity.
4. What will happen during and after the merger?
UCPB clients are assured that banking services will continue to be unhampered throughout the merger process, with deposits remaining intact and secured in their respective servicing branches.
5. Will my money be safe when the merger takes place?
Yes, the deposits and investments you have entrusted to us remain safe and secured. Rest assured that we will continue to uphold and protect depositors’ rights throughout the merger process. Our services will also remain to be unhampered.
6. What will happen to my UCPB maintaining branch? Will it be changed to LANDBANK because it is the surviving entity?
All UCPB branches will continue to operate. As part of the integration process, there will be a rationalization of LANDBANK and UCPB’s combined branch network and as a result, some LANDBANK and UCPB branches may have to be relocated/merged. Clients will be advised accordingly prior to any change that may be implemented.
7. Will UCPB's focus change in terms of target market?
The merger enables UCPB and its clients to benefit from the strength, stability, scale and reach of LANDBANK. UCPB will be a part of a bigger institution that caters to a wider base of clientele including the other segments of the agricultural value chain.
8. Will the culture change in terms of client servicing? Will I still enjoy the same brand of service offered by UCPB even after the merger? Will the processing of transactions be the same?
We will continue to provide personal and proactive service to our clients and endeavor to make the transition seamless, including processing of transactions.
9. As a government bank, are you now going to prioritize government transactions?
During the transition and even after the merger is completed, we will continue to serve all clients including government agencies and provide them with the same level of personal and proactive service.

The merger will be beneficial to existing UCPB clients because they can access the bigger branch and ATM network of LANDBANK, and will be able to avail of a wider range of products and services.

Products and Services
10. What will happen to my deposits and accounts? Do I have to close it or will it automatically be converted into a LANDBANK account?
Clients’ deposits will remain intact and will continue to be accessible through UCPB’s channels. Once the systems are integrated, accounts will be converted to LANDBANK accounts and clients will be advised accordingly.
11. Will my UCPB ATM card be replaced with a LANDBANK ATM card?
Your UCPB ATM card will eventually be replaced for free with a LANDBANK ATM card once accounts are migrated to LANDBANK and the systems of LANDBANK and UCPB are integrated. In the meantime, you may continue to use your existing UCPB ATM card in UCPB and other banks’ ATMs.
12. What will happen to our small investment (i.e. peso bond)?
Upon merger, all investments made through UCPB Trust Banking Group will then be managed by LBP’s Trust Banking Group.
13. What will happen to my COCOLIFE insurance with a term of 5 years?
Your COCOLIFE insurance and other life and non-life insurance products you availed with COCOLIFE and COCOGEN will be maintained. If there are required changes in the future, clients will be advised by COCOLIFE and COCOGEN accordingly. We would like to clarify that COCOLIFE and COCOGEN are not subsidiaries of UCPB.
Loans
14. What will happen to our consumer loans, loan facilities, contracts and agreements? Do we need to re-apply for a new credit line? Will consumer and corporate loan rates change? Can we continue with our drawdowns?
Loans will be carried over to LANDBANK and existing payment arrangement, whether through Post-Dated Checks (PDCs) or Automatic Debit Arrangement (ADA), will continue to be processed by the merged bank.
15. What will happen with the Automatic Debit Arrangement (ADA) for my consumer loan?
The Automatic Debit Arrangement for your consumer loan payments will continue to be processed.
16. Can I pay my monthly loan amortization to LANDBANK?
Payments for loan amortization should still be coursed through UCPB. If there will be changes in the future, clients will be advised accordingly.
17. Can I still issue checks or PDCs against my UCPB account or order LANDBANK checks? What about the PDCs I issued for the next three years?
Yes, you may still issue checks against your UCPB checking account. UCPB checks, including PDCs will continue to be processed. If there will be changes in the future, clients will be advised accordingly.
18. How will my UCPB home or auto loan be handled, especially that I'm a second owner of the property?
Loans will be carried over to LANDBANK and existing payment arrangement, whether through Post-Dated Checks (PDCs) or Automatic Debit Arrangement (ADA), will continue to be processed by the merged bank.
E-banking Facilities
1. Can we still use UCPB ATMs? Can we use the same mobile banking facilities or do we have to apply for another one? Will eGOV, EFPS and CM.Biz be transferred to LANDBANK?
You can still use UCPB online banking facilities including the UCPB Mobile App. Once the accounts are migrated to LAND BANK and systems are integrated, LANDBANK’s digital banking platform/facilities will be used. Rest assured that clients will be advised accordingly.
2. Can we now withdraw in LANDBANK branches and ATMs? Does this mean we don't have to pay LANDBANK ATM charges?
UCPB continues to operate separately including its branch and ATM networks. Current UCPB fees, including ATM charges still apply.
Others
1. What will happen to UCPB employees?
Employees of both LANDBANK and UCPB are assured that concerns pertaining to personnel matters will be addressed accordingly and that all actions on human resources will comply with relevant labor rules and regulations.
2. Can I still apply for a job in UCPB or LANDBANK even with the merger?
Yes, you can still apply for a job in either UCPB or LANDBANK. Please visit the UCPB or LANDBANK website for the list of job openings.

Date updated: February 4, 2022


Frequently Asked Questions on the Merger

The following are answers to frequently asked questions related to the upcoming merger between UCPB and LANDBANK.

For further questions or concerns, please do not hesitate to get in touch with your UCPB servicing unit/officer or Customer Relations Center at crc@ucpb.com.

1. What is the reason for the merger and how will this benefit the clients?
The merger of LANDBANK and UCPB will allow the National Government to have a stronger, more resilient and unified banking institution in promoting inclusive and sustainable rural development and broadening financial inclusion among Filipinos, especially those in the countryside who belong to the underserved and unbanked sectors.

The merged bank will have a wider network of touch points in the countryside, thus providing more convenient banking services to farmers and fishers, including the coconut farmers.

The merged bank will have stronger financial muscle and technical expertise to expand its agricultural loan portfolio, including loans to coconut farmers.

2. What is the timeline of the merger?
A Technical Working Group (TWG) will be formed pursuant to Governance Commission for GOCCs (GCG) Memorandum Circular No. 2015-03, composed of the President and CEO of LANDBANK, the Officer-In-Charge of UCPB, and the duly-designated representatives of the GCG, SEC, Department of Finance (DOF), Department of Budget and Management (DBM), and Commission on Audit (COA).

The TWG shall approve the Integration Plan and resolve all matters involving the implementation of the merger, including the timeline.

3. What will happen to UCPB?
UCPB will be merged into Land Bank of the Philippines (LANDBANK) and after that process is completed, it will take on the name of LANDBANK, being the surviving entity.
4. What will happen during and after the merger?
UCPB clients are assured that banking services will continue to be unhampered throughout the merger process, with deposits to remain intact and secured in their current servicing branches.
5. What will happen to my UCPB maintaining branch?
During the pre-merger stage, all UCPB branches will continue to operate. As part of the integration process, there will be a rationalization of LANDBANK and UCPB’s combined branch network and as a result, some LANDBANK and UCPB branches may have to be relocated. Clients will be advised accordingly prior to any change that may be implemented.
6. Will UCPB's focus change in terms of target market?
The merger enables UCPB and its clients to benefit from the strength, stability, scale and reach of LANDBANK. UCPB will be a part of a bigger institution that caters to a wider base of clientele including the other segments of the agricultural value chain.
7. Will the culture change in terms of client servicing? Will I still enjoy the same brand of service offered by UCPB even after the merger? Will the processing of transactions be the same?
We will continue to provide personal and proactive service to our clients and endeavor to make the transition seamless, including transaction processing.
8. As a government bank, are you now going to prioritize government transactions?
During the transition and even after the merger is completed, we will continue to serve all clients including government agencies and provide them with the same level of personal and proactive service.

The merger will be beneficial to existing UCPB clients because they can access the bigger branch and ATM network of LANDBANK, and will be able to avail of a wider range of products and services such as the LANDBANK digital banking service.

Products and Services
9. What will happen to my deposits and accounts? Do I have to close it or will it automatically be converted into a LANDBANK account?
Clients’ deposits remain intact and will continue to be accessible through UCPB’s channels. If there will be changes in the future, clients will be advised accordingly.
10. What will happen to my COCOLIFE insurance with term of 5 years?
Your COCOLIFE insurance and other life and non-life insurance products you availed with COCOLIFE and COCOGEN will be maintained. If there are required changes in the future, clients will be advised by COCOLIFE and COCOGEN accordingly. We would like to clarify that COCOLIFE and COCOGEN are not subsidiaries of UCPB.
Loans
1. What will happen to our consumer loans, loan facilities, contracts and agreements? Do we need to re-apply for a new credit line? Will consumer and corporate loan rates change? Can we continue with our drawdowns?
Consumer loans, loan facilities, contracts and agreements will continue to be maintained, honored and implemented. If there will be changes in the future, clients will be advised accordingly.
E-banking Facilities
1. Will eGOV, EFPS and CM.Biz be transferred to LANDBANK?
Once fully merged with LANDBANK, clients will use LANDBANK’s digital banking platform/facilities.
Others
1. What will happen to UCPB employees?
Employees of both LANDBANK and UCPB are assured that concerns pertaining to personnel matters will be addressed accordingly and that all actions on human resources will comply with relevant labor rules and regulations.
2. Can I still apply for a job in UCPB or LANDBANK even with the merger?
Yes, you can still apply for a job in either UCPB or LANDBANK. Please visit the UCPB or LANDBANK website for the list of job openings.

Date published: August 3, 2021

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