BDO Unibank (BDO) and the Commission on Filipinos Overseas (CFO) have formalized a partnership that aims to support permanent migrant Filipinos by providing greater access to information, services, and guidance through financial literacy programs. This initiative highlights the shared commitment of both institutions to empower Filipinos abroad with the knowledge and resources needed to secure their financial well-being while maintaining strong connections with their families in the Philippines.
CFO’s Mandate to Protect Overseas Filipinos
The CFO is an agency attached to the Office of the President. It is tasked with promoting and protecting the interests, rights, and welfare of overseas Filipinos while helping them maintain strong social, cultural, and economic ties with the Philippines. This mandate has made the agency a central institution in supporting the needs of millions of Filipinos who have chosen to live and work abroad. By working with BDO, the CFO can expand its reach and provide more migrant Filipinos with financial literacy opportunities that can improve both their personal finances and their ability to support loved ones at home.
The Role of Remittances in Family Communication
Former Department of Labor and Employment Secretary Marianito Roque stressed the importance of the collaboration between BDO and CFO. “This partnership between BDO and CFO is closing the gap of what BDO has been doing for overseas Filipinos and their families in the Philippines,” he said. Roque underscored the role of remittances in keeping family bonds strong despite physical distance. He added that remittance is not only a financial tool but also a form of communication. “Families maintain communication because of remittance. And BDO is bringing families together by connecting them with each other through remittance.”
Remittances remain a vital part of the Philippine economy, with billions of dollars sent home annually by overseas Filipinos. For many households, this financial support covers education, healthcare, housing, and everyday needs. The ability to send money home securely and efficiently is essential, and BDO’s long-standing presence in the remittance market has made it a trusted partner for Filipinos abroad. This new collaboration with CFO enhances that role by integrating financial education into the process.
BDO’s Commitment to Financial Empowerment
BDO has consistently positioned itself as a partner of choice for overseas Filipinos and their families. Genie T. Gloria, senior vice president and head of BDO Remit, explained the Bank’s perspective on the partnership: “At BDO, we see remittance not just as a financial transaction, but as a lifeline that strengthens family ties. Through this partnership with CFO, we aim to empower overseas Filipinos with financial knowledge and tools that will help them build a more secure future for their families.”
The Bank recognizes that while remittances address immediate needs, financial literacy ensures long-term security. By equipping migrant Filipinos with knowledge about savings, investments, and responsible money management, BDO and CFO aim to create lasting benefits for both the senders and their beneficiaries. The programs under this partnership are expected to provide practical guidance that can help families better plan their finances and achieve greater stability.
Expanding Access to Services for Migrant Filipinos
Through this collaboration, BDO and CFO will be able to extend financial literacy initiatives across different platforms, making it easier for permanent migrants to access learning resources. These initiatives will not only educate Filipinos on how to maximize the use of remittances but will also encourage them to explore opportunities for financial growth. The effort aligns with the CFO’s mission of supporting the welfare of overseas Filipinos, while strengthening BDO’s role as a leading partner in remittance services.
The partnership represents a proactive step in addressing the evolving needs of the Filipino diaspora. By combining the CFO’s mandate with BDO’s expertise in financial services, both institutions are setting the foundation for sustainable financial empowerment among migrant communities. As Filipinos abroad continue to provide for their families, this initiative ensures they are also equipped to make informed financial decisions that benefit future generations.
