February 1, 2013L-R: Mr. Gerard Balgemino, Bank of Commerce Legaspi Branch Manager, Mr. Benjamin Santiago, ALECO Corporate Secretary, Bishop Joel Baylon, ALECO Chairman, Mr. Sergio Edeza, Bank of Commerce President & CEO, Mr. Magen del Rosario, ALECO Treasurer, Mr. Deogracias Jacinto, SVP – Retail Banking Group Albay Electric Cooperative, Inc. (ALECO) signed a Memorandum of Agreement with Bank of Commerce for the former to enlist with the Bank’s Cash Management Services. The signing of the MOA was led by ALECO Chairman Bishop Joel Z. Baylon and Vice Chairman Atty. Jose Vicente Fernandez. The event was held last January 30, 2013 at the Hotel Venezia in Legazpi City. The signing was immediately followed by a meet-and-greet event with the business movers and personalities of the City of Legaspi and the province of Albay, including Ms. Ma. Gracia E. Delos Santos, Ms. Hian Hian Sy, Mr. & Mrs. Eunumeriano Aquende, Dra. Angelita F. Ago, Mr. Arnel Casim, Mr. Amancio Dalit, Mr. Armando Neptuno, Ms. Rose Bombales, Ms. Anielyn Sumanga, Mr. Jerome C. Lee, and Atty. Hardy Aquende. ALECO is an electric distribution utility owned by its consumers. Registered as a non-stock and non-political entity, the cooperative’s franchise covers several municipalities in the cities of Tabaco, Legazpi, and Ligao.