After five successful and profitable years of operation, the Rural Bank of Loboc, Inc. has grown in an unprecedented pace and achieved a set of financial indicators that speak of the bank’s operational sustainability. To revisit its directions and chart a new set of goals to 2020, the Board of Directors hired Step Up Consulting to facilitate the process to assist them in looking at their bank operations and plan for the next six years.
As a culminating event, a workshop was held at the bank’s office in Loboc, Bohol on 9 November 2014. The workshop was attended by 5 of its board of directors, one bank consultant, and all members of the staff. The workshop resulted to a strategic plan that the Board will pursue to 2020.
The Rural Bank of Loboc was conceptualized in early 2004 as a major component of The Grand Dreams for the Development of Loboc. This dream, which served as a guide for the administration of Mayor Calipusan, focused on key priority areas labeled as LITHOPE – which stands for livelihood, infrastructure, tourism, health, organizational strengthening, peace and order, and education. The idea then was to revive a previous proposal of converting the credit cooperative into a rural bank to finance development initiatives in the municipality. If this would not work, it was planned that local Lobocanons will be organized to set up a bank that would serve the town’s financing needs for agriculture, small and medium-scale enterprises, and other productive activities, with the end view of promoting economic growth and development of Loboc and the economic empowerment of the Lobocanons. The second route was decided as the most viable option.
To date, the Rural Bank of Loboc serves the financing needs of the town of Loboc and nearby municipalities.