LifeBank Foundation At A Glance
What started as a few branches in Panay, has since grown to over 400 branches all over the country. With hundreds of thousands of borrowers, and thousands of employees servicing members nationwide, LifeBank Foundation continues its mission to break the chains of poverty through economic stimulus.
Over 400 unit offices and over 2,000 employees nationwide
Over 350,000 member/borrowers across Luzon, Visayas, and Mindanao
Proud member of the Microfinance and Non-Profit Regulatory Council (MNRC)
Over 200 million pesos spent on charitable social service programs
Origins
Founded in Santa Barbara, Iloilo, Philippines in 2003, LifeBank Foundation Inc. (LBF) is a non-stock, non-profit organization whose primary purpose is to break the chains of poverty using a two-pillar approach combining microfinance and social and sustainable development programs.
LifeBank Foundation's Two Pillars
The first pillar is LBF’s Ikabuhi Microfinance Program (IMP). The word Ikabuhi loosely translates to “for life” in Ilonggo, the local dialect of Iloilo, where the program started. This program provides micro-credit and capital build-up to female micro-entrepreneurs throughout the country, giving them access to essential funds that help their businesses grow and thrive. The IMP is the LBF’s biggest and longest-running program, making up over 95% of its operations.
The second pillar of LifeBank is the Social and Sustainable Development Program (SSDP). The SSDP works with numerous partner organizations to create and implement a wide variety of programs that provide aid to both IMP members and society at large. These programs are focused to target specific root causes of poverty, such as health, education, disaster preparedness, and more. Thus, through SSDP efforts, LBF can go beyond extending financial assistance, and develop more holistic approaches to improving the lives of our members and their communities nationwide.
Today
Today, the LifeBank Foundation has offices all over the Philippines, and aids hundreds of thousands of families through its IMP and SSDD efforts. We currently service over 300,000 members and many more non-member beneficiaries through our programs, and constantly strive to expand and improve our operations.