Pag-IBIG Fund reported strong performance in the first three quarters of 2024, driven by continued growth in savings and financing.
During the Philippine Information Agency’s Kapihan sa Bagong Pilipinas on Nov. 12, 2024, held simultaneously across 16 regions in coordination with the Presidential Communications Office, Pag-IBIG Fund outlined its achievements to date.
The agency, which reached a milestone in August by surpassing the PHP 1 trillion mark in total assets, continues to expand its reach and service to Filipino workers across the nation.
As of the third quarter, Pag-IBIG Fund has more than 16.37 million active members who collectively saved PHP 98.72 billion—PHP 49.27 billion from mandatory Regular Savings and PHP 48.86 billion from the voluntary MP2 savings program.
From January to September 2024, Pag-IBIG Fund assisted more than 2.5 million members with short-term cash financing, approving Multi-Purpose Loan applications for over 2 million borrowers, totaling PHP 49.72 billion.
This marked a 16% increase in both borrowers and loan amounts compared to the same period last year.
Nearly 461,000 victims affected by various calamities received PHP 5.92 billion through the Pag-IBIG Calamity Loan.
Applications for Pag-IBIG Fund’s short-term loans incur no processing fees, and loan proceeds are issued without deductions for advanced payments or interest, making these loans among the most affordable in the market.
In addition to the calamity loan, Pag-IBIG Fund approved a one-month moratorium on housing loan payments for borrowers in areas declared under a state of calamity due to Typhoon Kristine.
The moratorium allows affected members to prioritize recovery expenses.
Eligible members may apply for the moratorium until Dec. 31, 2024, either through Virtual Pag-IBIG or at a Pag-IBIG branch.
In housing finance, Pag-IBIG Fund disbursed PHP 88.17 billion to 61,597 borrowers for home purchases and improvements.
The Pag-IBIG Housing Loan provides up to PHP 6 million in financing at interest rates as low as 3% for socialized and low-cost housing.
Pag-IBIG Fund also supports the government’s flagship Pambansang Pabahay para sa Pamilyang Pilipino Housing (4PH) Program.
As of September 2024, Pag-IBIG Fund released PHP 20.17 billion for various 4PH projects nationwide, benefiting 17,791 low-income borrowers.
Pag-IBIG Fund CEO Marilene C. Acosta said, “Our accomplishments this year underscore our dedication to serving the financial needs of Filipinos across the country.
Participating in the PIA’s Kapihan sa Bagong Pilipinas serves as a good opportunity for us to directly engage with our members and inform them how Pag-IBIG Fund is working toward a stronger financial institution.
After all, our members are the true owners of the Fund. It is just proper that they know how their savings are used and how effectively managing Pag-IBIG’s finances benefits them through dividends and returns on their savings.”
Pag-IBIG Fund’s participation in the Kapihan sa Bagong Pilipinas aligns with its commitment to transparency and stakeholder engagement, aiming to inform members and partners about the impact of its operations on workers, employers, and businesses in each region.
