Highest amount saved by members for any January to June period, agency notes
(Eagle News) – PAG-IBIG Fund reported a record-high of P38.82 billion savings of its members in the first six months of the year, or an increase of P7.23 billion compared to the collected savings for the same period last year.
Department of Human Settlements and Urban Development (DHSUD) Secretary Rizalino Acuzar noted PAG-IBIG Fund’s “excellent performance in its members’ savings collections.”
“Pag-IBIG Fund members collectively saved P38.82 billion in the first six months of the year, an increase of P7.23 billion or 23% compared to the P31.59 billion collected during the same period last year,” a statement from PAG-IBIG said.
This set a record for the highest amount saved by members with the agency for any January to June period.
-More funds for financing, loans-
Acuzar, who also heads the 11-member Pag-IBIG Fund Board of Trustees, said that the agency’s “strong collections” meant that they have the “funds to finance our programs and continue providing affordable home and cash loans for our members.”
This is our contribution to the call of President Ferdinand R. Marcos, Jr. to resolve the country’s housing backlog and provide a better life for Filipinos,” he said.
Driving the double-digit growth is the continuing popularity of the agency’s voluntary Modified Pag-IBIG 2 (MP2) Savings.
-P19.4 billion savings in MP2-
MP2 Savings amounted to a record-high P19.40 billion in the first half of the year, growing 47% from the P13.23 billion collected during the same period last year.
Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti attributed the agency’s record-high collections to the trust of members in preferring to save with Pag-IBIG Fund, and the support of the business community for the proper and on-time remittance of their employees’ Pag-IBIG Savings.
“We are grateful to the business community for responsibly remitting the Pag-IBIG contributions of their employees on time, and to our members for their continued trust in saving with Pag-IBIG, particularly in the MP2 Savings,” he said.
“Should the upward trend in our collections hold, we expect another record-high in terms of total members’ savings by the end of the year,” he noted.
Moti also expressed confidence that PAG-IBIG Fund can “continue to finance the increasing demand for our loans while keeping interest rates low.”
“This is one of our ways of bringing Tapat na Serbisyo, Mula sa Puso to our members,” he added.
-Brighter economic outlook-
This came about as the Department of Finance (DOF) reported a bright outlook for the country’s economy expecting a lower inflation by the end of the year.
DOF Secretary Benjamin Diokno said that he is also expecting that that there will be no downgrades in the country’s credit rating.
(Eagle News Service)
