On September 30, 2008, the PEOPLES BANK OF CARAGA – MUTUAL BENEFIT ASSOCIATION, INC. (PBCMBA) was founded through the collective initiative, vision, and dedication of its founding members. These pioneers recognized the growing need for a reliable, community-driven organization that could provide affordable and sustainable financial protection to individuals and families within Caraga and beyond.

PBCMBAI was established with the primary goal of creating a mutual benefit association that would empower its members with financial security and accessible insurance services. The organization is driven by the principle of mutual assistance, where members contribute to and benefit from a shared pool of resources to address their financial needs during life’s uncertainties.

To ensure its legitimacy and proper governance, PBCMBAI took a significant step by registering with the Philippine Securities and Exchange Commission (SEC). This milestone solidified its foundation as a legally recognized organization dedicated to delivering ethical and transparent services.

A year later, on October 28, 2009, the organization achieved another major breakthrough when it was granted a License to Operate as a Mutual Benefit Association (MBA) by the Philippine Insurance Commission. This regulatory approval not only reinforced PBCMBAI’s credibility but also underscored its commitment to adhering to national standards of excellence in providing financial protection services.