Allied Bank recently signed a P255 Million, 10-year term loan agreement with La Union Electric Cooperative, Inc. (LUELCO) under the LGU Guarantee Corporation's (LGUGC) Electric Cooperative Partial Credit Guarantee (EC-PCG) Program.

     The ceremony was held last December 12, 2012 at the Allied Bank Head Office Penthouse in Makati City. Photo shows LUELCO Board President Joven F. Costales (fourth from left) receiving a symbolic check from Allied Bank President Anthony Q. Chua (third from right), together with (from left) LGUGC President Lydia N. Orial, LUELCO Director Benjamin T. Dy, LUELCO General Manager Ramon C. Posadas, Allied Bank Institutional Banking Group Head/FSVP Yolanda M. Albano, and Allied Bank Merchant Banking Division Head/FSVP Alberto E. Bienvenida.

     Proceeds of the loan will be used to reduce system losses and improve the quality of electric service in its franchise area covering nineteen (19) municipalities and one (1) city in La Union and four (4) municipalities in Pangasinan, as mandated under the Electric Power Industry Reform Act of 2001 (EPIRA).