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Wednesday, January 20, 2016

Php1-billion released for housing, other loans in Zambo City – Pag-IBIG
By Dominic I. Sanchez

ZAMBOANGA CITY, January 20 (PIA) – Close to P1 billion in housing and other loans were granted to members of Pag-IBIG Fund here for the past year, as collection targets have been surpassed, reports the Pag-IBIG Fund Branch.

Ms. Mary Joanne I. Reyes, member services head, said Php608-million was approved and granted for both multi-purpose and calamity loans, while Php383-million was released to finance members’ loans covering about 477 housing units.

Reyes added that business is good, since member collections have exceeded way beyond their 100% target.

“Many members are now very happy with their new homes,” Reyes said, adding that they received a total of 1,286 housing loan requests for 2015 in Zamboanga City alone.

As the city was declared under a state of calamity on January 12 due to the dry spell, Pag-IBIG  Fund will also be granting calamity loans to its members here.

“Once we are furnished with a copy of the City Council resolution declaring Zamboanga under a state of calamity, we will be able to send the same to our head office for funding,” Reyes shared.

Meanwhile, Pag-IBIG Fund warns employers who do not remit their employees’ contributions.

“We have gone after erring employers, and they had no choice but to pay back the arrears in thousands of pesos,” said Reyes.

Under Republic Act 9679, fund coverage is mandatory for all employers and employees covered by SSS, GSIS, uniformed personnel, OFWs, household service workers or “kasambahays”, members of transport groups, professionals, vendors and other informal income earners.

Pag-IBIG Fund, as a government-owned and controlled corporation is very financially sound, as to date, it boasts of Php379.25-billion in total assets, with 15.76 million remitting members to include 4.31 million OFWs.

The Fund now has 117 branches nationwide with an additional 22 posts in key cities worldwide, and is continuously expanding, according to Reyes.

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