On May 23, 2003. SOCIAL SECURITY SYSTEM (SSS) appointed and authorized the Coopbank to act as collecting and paying agent of SSS.
The bank and all its branches in different locations has accepted the contributions for Social Security, and Employees Compensation of SSS covered members.
It has made remittances to SSS more convenient to the paying members/individuals. As an accredited bank, SSS also introduced to the bank its scheme "MAG-IMPOK SA BANGKO PROGRAM" which consists of direct credit to the Bank of the SSS pensioners monthly pension where the pensioner was required to open a single savings account at a minimum deposit of P100.00.
This scheme has avoided loss and misdelivery being encountered in the present payment-by-check scheme.