# City Savings Bank > Thrift bank subsidiary of Union Bank of the Philippines **Wikidata**: [Q107209478](https://www.wikidata.org/wiki/Q107209478) **Wikipedia**: [English](https://en.wikipedia.org/wiki/CitySavings) **Source**: https://4ort.xyz/entity/city-savings-bank ## Summary City Savings Bank (also known as CitySavings) is a thrift bank subsidiary of Union Bank of the Philippines, operating within the financial services industry. Founded in 1965 and headquartered in Cebu City, Philippines, it provides digital banking products and services as a financial intermediary and credit institution. ## Key Facts - **Entity Name**: City Savings Bank (alias: CitySavings) - **Instance Of**: Bank (financial institution that accepts deposits) - **Industry**: Financial services; Bank operations - **Parent Organization**: Union Bank of the Philippines - **Founded**: 1965 in Cebu City, Philippines - **Headquarters**: Cebu City, Philippines - **Operating Area**: Philippines - **Products**: Digital banking - **Website**: http://www.citysavings.com.ph - **Crunchbase ID**: city-savings-bank - **Wikipedia Title**: "CitySavings" (2 language editions: English, Tagalog) - **Wikidata Description**: "Thrift bank subsidiary of Union Bank of the Philippines" - **Classification**: Subclass of financial intermediary, credit institution, enterprise, depository institution - **Distinct From**: Non-bank entities, bank building (physical location) ## FAQs **What is City Savings Bank and who owns it?** City Savings Bank (CitySavings) is a thrift bank operating in the Philippines as a subsidiary of Union Bank of the Philippines. It functions as a financial intermediary and credit institution accepting deposits. **Where is City Savings Bank headquartered and when was it established?** The bank was founded in 1965 and was formed in Cebu City, Philippines, where it maintains its corporate headquarters. **What digital services does City Savings Bank offer?** City Savings Bank produces digital banking products, serving customers through electronic financial service platforms. **How is City Savings Bank classified in the financial system?** It is classified as a bank within the financial services industry, specifically operating as a thrift bank—a category of depository institution and financial intermediary distinct from non-bank entities. ## Why It Matters City Savings Bank represents a significant component of the Philippine banking ecosystem as the thrift bank arm of Union Bank of the Philippines. Established in 1965, it carries nearly six decades of operational history in Philippine finance. Thrift banks fulfill an essential role in financial intermediation by accepting deposits and providing credit, particularly serving markets and demographics that complement commercial banking operations. The bank's digital banking products reflect the ongoing modernization of financial services in the Philippines, expanding access to banking beyond traditional branch networks. Headquartered in Cebu City rather than Manila, CitySavings also highlights the regional diversity of the Philippine banking sector. ## Notable For - **Long-standing Philippine Institution**: Founded in 1965, representing decades of continuous banking operations in the Philippines - **Strategic Corporate Position**: Operating as the thrift bank subsidiary of Union Bank of the Philippines - **Regional Headquarters**: Based in Cebu City, a major economic center outside of Metro Manila - **Digital Banking Innovation**: Producing digital banking products in the evolving Philippine fintech landscape - **Bilingual Wikipedia Presence**: Documented in both English and Tagalog language editions ## Body ### Corporate Identity and Ownership City Savings Bank, commonly referred to as CitySavings, operates as a thrift bank subsidiary of Union Bank of the Philippines. The institution is cataloged in Crunchbase under the organization identifier "city-savings-bank." Its Wikidata entity is described specifically as a "Thrift bank subsidiary of Union Bank of the Philippines." ### Founding and Location The bank was established in 1965, with its location of formation recorded as Cebu City, Philippines. It continues to maintain its headquarters in Cebu City, operating throughout the Philippines as its designated operating area. ### Banking Classification and Industry Context As an instance of a bank, City Savings Bank belongs to a globally recognized class of financial institution that accepts deposits. Banks are classified as subclasses of financial intermediary, credit institution, enterprise, and depository institution. The banking industry, designated as "bank operations," functions as a fundamental component of modern economic infrastructure, enabling capital storage, transaction facilitation, and credit provision. The concept of a bank is explicitly differentiated from a "bank building" (the physical location) and is defined as the opposite of a "non-bank" entity. In digital mapping systems, banking institutions are tagged with the OpenStreetMap designation `amenity=bank`. ### Products and Services City Savings Bank produces digital banking products, reflecting its adaptation to contemporary financial service delivery. The digital banking product line is documented with references to Wikipedia sources (Q328, referencing the article "City_Savings_Bank" revision 1074039936). ### Digital and Cultural Presence The bank maintains an official website at http://www.citysavings.com.ph. Its Wikipedia article, titled "CitySavings," appears in two language editions: English (en) and Tagalog (tl), with a total sitelink count of 2. This bilingual presence reflects its cultural and operational relevance within the Philippines. ### Broader Banking Ecosystem Context As a bank, City Savings Bank operates within an industry documented across extensive global classification and reference systems. The banking concept is represented by the Unicode character 🏦 (U+1F3E6), classified under Iconclass notation 46B53 for banking and money exchange, and cataloged under the Dewey Decimal Classification 332.1 and Colon Classification X62. The profession associated with banking institutions is designated as "bank employee." The banking sector is documented in numerous historical and modern reference works, including the Encyclopædia Britannica, Collier's New Encyclopedia, Meyers Konversations-Lexikon, and modern library authority files such as the Library of Congress Subject Headings (sh85011609). Banks are the subject of a Wikipedia vital article (Level/4 as of 2022-10-31) and utilize the standardized Template:Infobox bank on Wikipedia. The global banking concept spans at least 169 language editions on Wikipedia and encompasses a Commons category and gallery dedicated to banking institutions.