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Thursday, September 10, 2015
Press Release: Pag-IBIG updates Employers Confederation members on accomplishments
Pag-IBIG Fund President and CEO Atty Darlene Marie B. Berberabe recently presented Pag-IBIG updates at the 11th Employers Confederation of the Philippines (ECOP) membership general meeting (MGM) held at the Henry Sy, Sr. Auditorium, St. Luke’s Medical Center, Global City, Taguig. Among the audience were 400 senior corporate executives representing a cross-section of the Philippine business industry.
“Pag-IBIG doubled the maximum loanable amount for housing loans (HL) to P6 million, reduced HL interest rates from 11.5% to 6.5%, provided subsidized HL interest rate to minimum wage earners at 4.5%, reduced calamity loan interest rate from 10.75% to 5.95%, the lowest in the market, and increased Pag-IBIG’s viability as provider of housing finance by outsourcing collection. What’s remarkable about these reforms is that we achieved these without increasing the monthly premium of P100,” Atty. Berberabe said.
Atty. Berberabe highlighted that as the Pag-IBIG membership base increased from 8 million in 2010 to 15.6 million as of July 2015, the Fund doubled its branches from 38 in 2010 to the current 77, expected to reach 117 by the end of 2015, to be where the members are. She also mentioned that in 2014, Pag-IBIG declared P11.35 billion in dividends with a rate of 4.18% and posted a net income of P16 billion.
The Fund’s efforts to excel in its services gained approval from third-party agencies, as the German firm TÜV SÜD renewed Pag-IBIG’s ISO 9001:2008 Certification for its Membership Registration Process in 2014, the Commission on Audit issued back-to-back Unqualified Opinion on its Financial Statements for 2012 and 2013, and the Civil Service Commission gave passing marks, with a total of 33 branches receiving Excellent scores, to all Pag-IBIG branches and offices included in the 2013 and 2014 Anti-Red Tape Act Report Card Surveys. The “new office look” as a way in improving Pag-IBIG services was also shown. (end)
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