The Rural Bank of Camalig (Albay), Inc. or Camalig Bank, was established on June 4, 1969 to service the credit and financial needs of the rural sector. Six incorporators namely, Catalina S. Moraleda, Pedro S. Moraleda, Fidel M. Valer, Joselito A. Moraleda, Teofila M. Almachar and Andres Manila initially put up the required capital to set it up. The first five incorporators were eventually entrusted to become the Board of Directors of Camalig Bank for the first term. Catalina S. Moraleda served as the first Chairman of the Board.
It was during Sutileza S. Moraleda's presidency (1974-1996) that the Camalig Bank stabilized its operations amidst the country's economic uncertainties. Likewise, Drs. Azarias S. Moraleda and Rosario S. Moraleda were always relied upon to put up the additional capitalization the Central Bank called for. When Geraldine P. Moraleda took over (1998-2005), immediate steps were undertaken to standardize the bank's operations. Manuals on cash, audit, compliance transactions and personnel policies were drafted and approved. Internal controls and regular audit are practiced with utmost discretion and prudence. Organizational structure, pay scale, benefits, and bonuses were rationalized to ensure objectivity in implementation.
In 2006 until the present, Jose Misael B. Moraleda was elected President and Chief Executive Officer. As a third generation steward of the Bank, he continues the Camalig Bank’s legacy of providing quality service and expanded reach.
Over the years, as Camalig Bank continued to serve the rural folk, the bank has extended its facilities to the salaried employees, as well as, to a cross section of society. The move was warmly welcomed because access to funds was needed to address personal needs and to spur local economic initiatives.
The Camalig Bank, in its untiring service, has maintained a high credit rating (from Bangko Sentral ng Pilipinas) and has kept it since 1983 until the present. Moreover, asset size has grown 1319 percent from 1998 to 2013. The foregoing track record and the commitment of Camalig Bank to transparency in client-transactions and fiscal prudence makes us proudly stand for the slogan, "Banking with Confidence."