Philippine Veterans Bank - Laoag - Philippines

"True patriotism seeks no reward for services rendered to the State at great sacrifice even at the cost of life itself; but it is also the duty of the State to create the necessary atmosphere and incentives for her citizens."WITH THESE STIRRING WORDS, THE STATESMAN, SENATOR CAMILO OSIAS, ELOQUENTLY AFFIRMED IN THE HALLS OF CONGRESS IN 1963 HIS SUPPORT FOR THE ESTABLISHMENT OF THE PHILIPPINE VETERANS BANK.The idea to establish a veterans bank began in 1956 when the reparations agreement with Japan was concluded. It provided for payment by Japan to the Philippines the amount of US $20 million in cash, P5 million in capital goods and US $10 million in services. Republic Act 1789 or the Reparations Law, placed the cash reparations in a trust fund for the benefit of World War II  

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veterans, their widows and orphans. This fund was meant to be invested into a bank that should service their needs, provide for their future, and harness their potential to once again serve the nation through a financial intermediary that they can truly call their own.