Pag-IBIG Fund is most trusted GOCC in 2021 Philippine Trust Index

UNTV News   •   December 1, 2021   •   229

 

MANILA, Philippines — Pag-IBIG Fund is the most-trusted government-run corporation according to a nationwide trust survey of key institutions in the Philippines.

This is according to the 2021 Philippine Trust Index (PTI), a nationwide survey by the EON Group that cuts across backgrounds to measure Filipinos’ trust in the government, the business sector, the media, non-governmental organizations, the Church, and the academe.

“We are truly honored to be included in the list of most trusted government agencies. The latest results of the Philippine Trust Index and our 9th straight unmodified opinion from COA show that we have fulfilled our duties during the pandemic while still maintaining the highest standards of transparency and integrity in our work. This is aligned with President Duterte’s vision of clean government with heart for service,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

The 2021 PTI noted that “in terms of government agencies, departments that got the highest trust are those whose functions require them to remain engaged with the public, even during the pandemic such as online learning, finance regulation, loan assistance and aid distribution.”

The Department of Education earned the highest trust rating of 91% followed by Pag-IBIG Fund at 89% – the highest among GOCCs on the list.

“On behalf of all Lingkod Pag-IBIG, thank you for your trust, our dear members! As you know, we never stopped providing service even during the lockdown and community quarantines. Instead, we improved our digital assets so you can continue transacting with us online,” Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said.

“We have proven that during this health crisis, you can always count on our Lingkod Pag-IBIG brand of service. And, while we have previously received awards and recognition, we are even more grateful that it is the public itself, the people we serve, that ranked us as the most trustworthy GOCC in the country for 2021,” he added.

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 Pag-IBIG home loan releases surpass P100 B in 2021 for record-high; up 58%

UNTV News   •   January 22, 2022

Pag-IBIG Fund has once again set a record-high as home loans breached P100 billion, even amid the ongoing pandemic, agency officials announced on Friday (Jan.21).

For 2021, Pag-IBIG Fund released home loans worth P97.28 billion. And, with interim releases for loans for house construction and renovation amounting to P3.5 billion, total releases have reached P100.8 billion – the highest amount ever released by the agency in a year.

The amount disbursed in 2021 grew 58% compared to the P63.75 billion released in 2020 and has surpassed by 16% the P86.74 billion released in 2019, the agency’s previous record-high.

“While the country is still facing challenges caused by the pandemic, I am happy to report that Pag-IBIG released more than P100 billion in home loans in 2021, surpassing its ‘best-ever’ figure which it achieved in 2019, before the health crisis started,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 10-member Pag-IBIG Fund Board of Trustees.

“This is very good news for our members because bigger releases mean that more Filipino workers have become homeowners even during the pandemic. The growth in home loan disbursements also contributes to the economic recovery efforts of the government.” He added.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said that the amount released financed the acquisition of a record-high 94,533 housing units for its members, an increase of 48% compared to the 63,750 housing units financed in 2020.

Of the amount released, P9.71 billion financed the acquisition of 22,028 socialized housing units for members belonging to the minimum-wage and low-income sectors, or 23% of the entire number of homes financed for the whole year of 2021.

“We previously thought that releasing P100 billion in home loans in one year was impossible. Yet, even when our home loan releases were at P57 billion in 2016, we still targeted the release of P100 billion by 2022,” said Moti.

“And, thanks to the commitment of your Lingkod Pag-IBIG and the support of our stakeholders, we have already surpassed P100 billion in home loan releases in 2021 – a year earlier than our target date and even during a pandemic! What truly is significant behind this number is that we were able to serve more Filipino workers during the most difficult times and we remain a catalyst for the Philippine housing industry to thrive even amid the pandemic. I am grateful to everyone who helped make this seemingly impossible goal come true,” he added.

 

Pag-IBIG Fund now accepting application for calamity loan of members in Odette-hit areas

Maris Federez   •   December 29, 2021

MANILA, Philippines — The Home Development Mutual Fund (Pag-IBIG Fund) has announced the allocation of Php5 billion in calamity loans and is now accepting applications to help its members affected by Typhoon Odette.

“In times like these, Pag-IBIG Fund is always ready to help members through our Calamity Loan Program. That is why the Pag-IBIG Board has allocated a calamity loan fund of P5 billion as an aid for our members in Visayas and Mindanao to help them recover from the devastation caused by typhoon Odette,” said Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo D. del Rosario in a statement released recently.

Under the Pag-IBIG Calamity Loan Program, eligible members may borrow up to 80% of their total Pag-IBIG Savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned, the statement said.

And in consideration of the plight of the members, the calamity loan is offered at a rate of 5.95% per annum which is the lowest rate in the market, it added.

The loan is payable over a period of up to three years. It gives the borrower a grace period of two months so that the initial payment is due only on the third month after the loan is released.

Qualified borrowers may apply for the loan within 90 days from the date when an area has been declared under a state of calamity.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said members in affected areas who have access to internet service and have a Pag-IBIG Loyalty Card Plus, Land Bank of the Philippines or United Coconut Planters’ Bank (UCPB) cash card, may file their Calamity Loan applications online via Virtual Pag-IBIG.

Pag-IBIG Fund allocates P5B in Calamity Loan to help members in Odette-hit areas

UNTV News   •   December 23, 2021

Pag-IBIG Fund has allocated P5 billion in Calamity Loans to help its members affected by typhoon Odette, its top executives announced on Wednesday (Dec. 22).

“In times like these, Pag-IBIG Fund is always ready to help members through our Calamity Loan Program. That is why the Pag-IBIG Board has allocated a calamity loan fund of P5 billion as aid for our members in Visayas and Mindanao to help them recover from the devastation caused by typhoon Odette,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11- member Pag-IBIG Fund Board of Trustees.

Under the Pag-IBIG Calamity Loan Program, eligible members may borrow up to 80% of their total Pag-IBIG Savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned. And in consideration of the plight of the members, the Calamity Loan is offered at a rate of 5.95% per annum which is the lowest rate in the market.

The loan is payable over a period of up to three years, with a grace period of two months so that initial payment is due only on the third month after the loan is released. Qualified borrowers may apply for the Calamity Loan within 90 days from the date when an area has been declared under a state of calamity.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti added that as of November this year, more than P1.15 billion in Calamity Loans have been released by the agency to help 76,521 members in calamity-hit areas. He also added that the program has been made more affordable as borrowers now have the option to choose a longer 3-year term to reduce monthly payments by up to 31%. This means that for a Calamity Loan worth P20,000, monthly payments will be reduced from P897.23 to only P615.72.

“Members in affected areas who have access to internet service and have a Pag-IBIG Loyalty Card Plus, Land Bank of the Philippines or United Coconut Planters’ Bank (UCPB) cash card, may file their Calamity Loan applications online via Virtual Pag-IBIG. This would allow them to file and receive their loans safer and faster, so that they can continue to tend to the needs of their families as they recover from the effects of the typhoon.

And, even while our own offices and personnel in typhoon-hit areas have also been affected, our branches are open and ready to receive loan applications. Your Lingkod Pag-IBIG is committed to deliver service that matters, always and in all ways,” said Moti.

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