Financial Institutions

Aside from the numerous big cooperatives existing in the municipality like Pandan Multi-Purpose Cooperative which offers lending services to its members, there are two banking institutions in the municipality. The first is the Cooperative Rural Bank of Aklan (CRBA) and the other is Unified System Program (USP) of the Land Bank of the Philippines (LBP).

The presence of Land Bank of the Philippines, Cooperative Rural Bank of Aklan, Cebu Lending Inc., ten (10) Multi-Purpose Cooperative, several private money lenders including incoming earnings of local Overseas Contract Workers (OCWs) provide active financial activities and business capitals.

Pandan Market Stall Holders and Vendors (PAMASHVE) Cooperative provides financial assistance to all its members in the public market.

Consequently, Pandan Multi-Purpose Cooperative (PMPC) entered into a MOA/tripartite agreement with Panay Telephone Corporation (PANTELCO) as partner, and Land Bank of the Philippines (LBP) in coordination with Congressman Exequiel B. Javier as funding agency (LBP loan and CDF) to operate a telephone system, thus providing communications for public’s personal and business transactions here and abroad.