Pag-IBIG releases nearly P16B in cash loans in Jan-Apr 2023; Over 700K members aided

by Info @Brand Zone | June 8, 2023

Pag-IBIG Fund released P15.82 billion in cash loans in the first four months of the year, an increase of 5% from the P15.10 billion released during the same period last year, agency officials announced Wednesday (07 June 2023).

The amount of Multi-Purpose Loans disbursed by the agency helped 728,653 members with their financial needs.

“We at Pag-IBIG Fund exert all efforts in providing our members with assistance on their financial needs. We are happy to note that through our Pag-IBIG Multi-Purpose Loan, we were able to aid more than 700 thousand Filipino workers gain added funds to tend to their needs. All our efforts are in line with the call of President Ferdinand Marcos, Jr. to provide the best service to the Filipino people,” said Secretary Jose Rizalino L. Acuzar, who leads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Pag-IBIG Fund’s Multi-Purpose Loan or MPL is the agency’s affordable and easily accessible cash loan. Under the Pag-IBIG MPL, qualified members can borrow up to 80 percent of their total Pag-IBIG Regular Savings, which consists of their monthly contributions, their employer’s contributions, and accumulated dividends earned. The proceeds can be used to pay for tuition fees, medical expenses, minor home improvement, a family trip, or even serve as capital for small businesses. The loan is payable in 24 or 36 monthly installments, with the first payment deferred for two months. The Pag-IBIG MPL comes at a low interest rate of 10.5 percent per year. In the past years, the agency has returned more than 90 percent of its income to its members in the form of dividends.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, noted that the agency now provides members with numerous ways to conveniently apply for a Pag-IBIG MPL through its more than 200 branches, its online facility Virtual Pag-IBIG found in its website, and the Virtual Pag-IBIG mobile app.

“Each year, over 2.5 million members rely on the Pag-IBIG MPL for their immediate financial needs. More than being a reliable source for cash, our MPL is now more accessible to members. In addition to applying for a loan by submitting their applications through their employers or at a Pag-IBIG branch, our members may now also apply for a Pag-IBIG MPL wherever they are, online, with the Virtual Pag-IBIG. This makes the Pag-IBIG MPL more reliable and more accessible than ever," Acosta said.

In total, the Pag-IBIG Fund released P16.44 billion in short term loans benefitting 766,258 members in January to April. This includes the amount released under the Pag-IBIG MPL and the P.62 billion in Pag-IBIG Calamity Loans it released to aid 37,605 members.

Pag-IBIG partners with top transport network & app-based courier companies; Launches raffle promo

by Info @Brand Zone | May 25, 2023

Pag-IBIG Fund signed partnerships with the country’s top transport

network & app-based courier companies in efforts to bring its membership

to delivery riders on 25 May (Thursday).

The agency also launched its ‘Pag-IBIG Asenso Rider Raffle Promo’ to

encourage Pag-IBIG Fund membership among the estimated 420,000

delivery riders in the country today.

“We are very happy to welcome delivery riders as part of Pag-IBIG Fund’s growing

membership. More importantly, by being Pag-IBIG members, they may be able to

avail of affordable home financing under the Pambansang Pabahay para sa Pilipino

Housing or 4PH Program of President Ferdinand R. Marcos, Jr., which aims to

make available 6 million housing units to underserved Filipino families by 2028.

These are among our many efforts to solve the country’s housing backlog and enable

more Filipinos and their families to secure homes of their own,” said Secretary

Jose Rizalino L. Acuzar, who leads the Department of Human Settlements

and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund

Board of Trustees.

Pag-IBIG Fund inked agreements with transport network & app-based

courier companies Angkas, Food Panda, Grab, Lalamove and Pick A Roo.

With the agreements, the delivery riders of the said companies shall have

better access to the Pag-IBIG Fund benefits that include its Regular and MP2

Savings programs which provide competitive returns, and its affordable

home loan programs to enable them to purchase homes of their own.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile,

expressed optimism that Pag-IBIG Fund’s membership shall continue to

grow, especially with the agency’s special raffle promo for delivery riders.

“There are now 15.25 million Filipino workers who are active Pag-IBIG members,

which is the highest since the pandemic. And, with the Pag-IBIG Asenso Rider

Raffle Promo, we hope to encourage more delivery riders to become members so that

we can provide even more Filipino workers a secure savings program and affordable

home financing. We believe that our delivery riders, whose service and perseverance

have been vital in our daily lives, particularly during the pandemic, deserve the best

that Pag-IBIG Fund can offer,” Acosta added.

Members save record-high P27.51B in Jan-Apr 2023 in Pag-IBIG, up 10%; MP2 reach P13.89B, up 14%

by Info @Brand Zone | May 24, 2023

Pag-IBIG Fund members saved P27.51 billion during the first four months of 2023, growing 10 percent year-on-year and setting a new record for the highest amount saved by members for any January to April period.

"We are happy that Filipino workers are saving more with Pag-IBIG Fund. Their trust and confidence in our savings programs continue to grow as proven by our record-high members’ savings collections for January to April. This is good news because the increase in the savings collected shall allow us to finance the increasing demand for our home loans, in line with our objectives under the Pambansang Pabahay para sa Pilipino Housing or 4PH Program of President Ferdinand Marcos, Jr.,” said Secretary Jose Rizalino L. Acuzar, who leads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile, said that the increase in savings was not confined to the mandated Pag-IBIG Regular Savings of its members. Acosta also attributed the record-high collections to the continued popularity of the agency’s Modified Pag-IBIG 2 (MP2) Savings Program. The amount voluntary saved by members under its MP2 Savings in the first four months have already reached P13.89 billion, which is 14% higher than the P12.14 billion saved by members during the same period last year, and is also a new record-high.

The MP2 Savings is Pag-IBIG Fund’s voluntary savings program that yields higher dividends compared to the agency’s Regular Savings program. The program has a 5-year maturity period and a minimum savings requirement of only P500. The MP2 Savings is also open to retirees and pensioners who are former Pag-IBIG Fund members. For 2022, the savings program earned an annual return rate of 7.03%, the highest since the pandemic.

“Our MP2 Savings Program continues to grow at a strong pace. We thank our members for their continued support and enduring trust in our MP2, as well as in our Regular Savings program. We are even more grateful that the biggest growth areas in our savings collections come from our voluntary MP2 Savings Program and from members who save more than their mandated monthly savings. The new record-high in total members’ savings we collected from January to April of this year show the deeper appreciation of our members on the benefits of saving with Pag-IBIG Fund,” Acosta added.