EXTENT OF FINANCIAL INCLUSION OF SELECTED LOW-INCOME MUNICIPALITIES OF BOHOL

This study examined the extent of financial inclusion in selected low-income municipalities in Bohol, focusing on individuals’ engagement with financial products and services through the five A’s framework: affordability, awareness, accessibility, availability, and adequacy. Employing a descriptive research design, data were collected from respondents across diverse age groups, civil statuses, educational backgrounds, and income levels. The study explored the types of financial products utilized and analyzed variations in financial inclusion across demographic profiles. Findings revealed that most respondents were middle-aged to older adults with low incomes, predominantly married, and with secondary education. Savings accounts and loans were the most commonly used financial services, while credit cards and investment products were rarely used. Although awareness of financial services was high, affordability, accessibility, availability, and adequacy were rated low. Barriers such as high interest rates, transaction costs, limited financial institutions, and weak digital infrastructure constrained participation in the formal financial system. Statistical analysis confirmed significant differences in financial inclusion across age, civil status, educational attainment, and income groups. The study concludes that financial inclusion in these municipalities remains limited due to structural and economic challenges. It recommends improving affordability through microfinance initiatives, expanding access via mobile and agent banking, and fostering inclusive, community-based financial programs.