Latest news with #Pag-IBIG
GMA Network
27-05-2025
- Business
- GMA Network
Pag-IBIG Fund says assets grew to P1.1T as of end-March 2025
The Home Development Mutual Fund or Pag-IBIG Fund on Tuesday said its total assets surged to P1.1 trillion as of the end of March 2025. In a news release, Pag-IBIG said its asset growth underscores its 'continued financial strength" which "reaffirms its position among the country's leading government financial institutions.' The Fund's assets grew by P34.27 billion from P1.069 trillion as of the end of 2024, on the back of sustained expansion of its loan portfolio, prudent investments, and robust member savings. Pag-IBIG said it booked an equity base of P776.52 billion in the first quarter, which represents the combined value of members' equity, retained earnings, and other reserves. It added that its strong financial footing enables the agency to steadily grow the value of its members' savings while continuing to provide accessible loan programs to its 16.55 million active members. Moreover, Pag-IBIG said it maintained P21.29 billion in cash and cash equivalents and expanded its investment portfolio to P133.06 billion, 'demonstrating its strategic focus on liquidity and income-generating placements.' It said that its other major asset components include property and equipment, investment properties, and various non-current assets, all pointing to a well-diversified and resilient financial structure. In the first quarter of 2025 alone, Pag-IBIG said it disbursed P30.22 billion in housing loans, while total membership savings collections reached P40.4 billion, a 41% increase from the P28.76 billion collected during the same period last year. The Fund added it also saw a strong performing loans ratio of 94.13%, 'reflecting sound portfolio management and sustained borrower discipline.' —VAL, GMA Integrated News
GMA Network
22-05-2025
- Business
- GMA Network
Pag-IBIG: P30.22B in home loans released in Q1 2025
The Home Development Mutual Fund or Pag-IBIG Fund said Thursday it has released P30.22 billion in home loans in the first quarter of 2025. In a news release, Pag-IBIG said the amount was 8% higher or over P2 billion more than the P28.09 billion in housing loans disbursed during the same period in 2024. Loan releases in the January to March period also helped finance 20,315 Pag-IBIG members' acquisition of their own homes. "The strong performance of Pag-IBIG Fund in the first quarter underscores its continued commitment to providing affordable housing opportunities for Filipino families," said Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar, who chairs the 11-member Pag-IBIG Fund Board of Trustees. "As we sustain progress in home financing alongside the growing momentum of the Pambansang Pabahay para sa Pilipino (4PH) Program, we heed President Ferdinand R. Marcos Jr.'s call to uplift the lives of our fellow Filipinos by ensuring access to dignified shelter," said Acuzar. Pag-IBIG Fund CEO Marilene C. Acosta, meanwhile, also highlighted Pag-IBIG's vital support for the government's flagship 4PH Program—through which the agency provides financing to developers, contractors and local government units to build housing projects, as well as to individual buyers of 4PH units. In the first quarter alone, the agency said it released P987.91 million under the program, benefiting 669 members and their families who now own homes. "We are grateful to our members and stakeholders for their continued trust and support in our programs," said Acosta. "Our performance in the home loan front demonstrates not only our financial strength, but also our unwavering commitment to make homeownership more accessible for Filipino workers. Pag-IBIG Fund remains focused on providing affordable and reliable housing programs that help build stable and dignified lives for our members," added the Pag-IBIG chief. — VDV, GMA Integrated News
Filipino Times
07-05-2025
- Business
- Filipino Times
Special MWO-Dubai service set on May 31 for teachers, assistants, school staff
The Migrant Workers Office (MWO) in Dubai will hold a one-day special service on May 31, 2025, for Filipinos working in schools and related educational services across Dubai and the Northern Emirates. The initiative is aimed at Filipino teachers, assistants, bus supervisors, cleaners, messengers, babysitters, and nannies employed in educational institutions. It is scheduled ahead of the UAE's school break between July and August. MWO-Dubai said it expects to serve 300 clients during the special service, which will run from 8:00 AM to 12:00 noon. Only those with confirmed online appointments will be accommodated. Services to be provided include contract verification, OWWA membership and renewal, as well as registration assistance for SSS and Pag-IBIG. Workers may also seek help through the Assistance to Nationals desk. Workers whose visa or Emirates ID is not directly sponsored by the school must present proof of employment and job location, such as a company ID or employment certificate. This also applies to those whose visas were issued in Abu Dhabi or Al Ain. Appointments can be booked online through this link: Full requirements are listed on the MWO-Dubai website:
Filipino Times
01-05-2025
- Business
- Filipino Times
Pag-IBIG raises cash loan entitlement, eases access for members
Pag-IBIG Fund has upgraded its popular Multi-Purpose Loan (MPL), enabling members to borrow more, qualify sooner, and enjoy increased flexibility, affirming its dedication to supporting the financial needs of Filipino workers. Under the improved Pag-IBIG MPL, members can now borrow up to 90% of their total Pag-IBIG Regular Savings—12.5% more than the previous 80%. For members with upgraded Regular Savings, this means they can secure even larger loans, as loan entitlement is directly based on their total savings. This increase ensures members have greater access to financial resources when needed most. These enhancements—higher loan amounts and shortened eligibility—also apply to other Pag-IBIG Short-Term Loan programs, specifically the Health and Education Loan Programs (HELPS) and the Calamity Loan. In addition to higher loan amounts, eligibility requirements have also been enhanced. Members now qualify after contributing for just 12 months, down from the previous 24-month requirement. This reduction allows newer members to swiftly access funds for their immediate financial needs. Meanwhile, members with existing loans under the previous guidelines may still apply for an additional loan under the enhanced Pag-IBIG MPL, should they require extra funds as a result of the increased loan entitlement. The enhancements shall become available to members starting May 16. 'We are continually enhancing our loan programs in response to what our members need most,' said Secretary Jose Rizalino L. Acuzar, Chairperson of the 11-member Pag-IBIG Fund Board of Trustees and head of the Department of Human Settlements and Urban Development. 'These latest improvements are aligned with President Marcos' directive to deliver affordable and accessible financial services to Filipino workers. By offering bigger loans and reducing the eligibility period, we are making sure that more members can benefit quickly and effectively from the MPL.' The upgraded Pag-IBIG MPL also introduces a new one-year repayment term, complementing the existing two- and three-year options. This additional term provides greater flexibility, allowing members to tailor their loan repayments according to their individual financial capacity. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta highlighted that amid these enhancements, the loan remains affordable, with a competitive monthly interest rate of only 1.4583%. Additionally, the majority of the interest earned from MPL repayments is returned to members as dividends, further benefiting them. 'Our enhanced MPL reflects Pag-IBIG Fund's commitment to financial inclusivity and responsiveness to the needs of our labor sector,' Acosta said. 'We know members rely on these loans to start a small business, pay for tuition fees, cover medical expenses, undertake minor home improvements, or purchase furniture and other necessities. These changes mean our members can now more easily achieve their financial goals with greater ease and convenience.' In 2024 alone, Pag-IBIG Fund released P70.3 billion in cash loans to more than 3.2 million members—the highest amount disbursed in a single year—underscoring the strong and growing trust of members in the program and the agency. Building on this momentum, Pag-IBIG Fund aims to assist an estimated 3.6 million members in 2025, with projected cash loan releases reaching P95.3 billion, as it continues to expand its reach and deliver accessible financial support to more Filipino workers. 'We strive to continuously evolve and respond effectively to the changing financial needs of our members,' Acosta added. 'With these MPL enhancements, Pag-IBIG Fund further solidifies its role as a reliable partner in empowering Filipino workers toward greater financial stability and peace of mind.'
Filipino Times
23-04-2025
- Business
- Filipino Times
Pag-IBIG Fund offers cash prizes to MPL borrowers, company representatives in new promos for 2025
Pag-IBIG Fund has launched two new raffle promos aimed at increasing members' awareness of the benefits and favorable terms of the Pag-IBIG Multi-Purpose Loan (Pag-IBIG MPL), while encouraging greater employer engagement — further strengthening its efforts to provide timely financial support to members nationwide. As part of its initiatives to assist more Filipino workers in addressing their immediate financial needs through the Pag-IBIG MPL, the agency introduced the 'Loan to Win!' and 'Hatid Pana-Loan!' raffle promos, which offer cash prizes as additional incentives for borrowers and employer representatives. 'In 2024 alone, our Pag-IBIG MPL program assisted more than 3 million members with over ₱70 billion in cash loans. This highlights the Pag-IBIG MPL's role as a dependable source of financial assistance for Filipino workers in times of need,' said Secretary Jose Rizalino L. Acuzar, head of the Department of Human Settlements and Urban Development and chairperson of the 11-member Pag-IBIG Fund Board of Trustees. 'In line with President Marcos' directive to provide accessible and affordable financial services to our citizens, we are launching these promos to assist even more members while recognizing the efforts of employer representatives who actively support their employees' loan applications,' Acuzar added. Running from April to December 2025, the 'Loan to Win!' raffle promo gives Pag-IBIG members with an approved Pag-IBIG MPL a chance to win cash prizes. Each approved loan during the promo period automatically earns one raffle entry, with bonus entries awarded to first-time Pag-IBIG MPL borrowers, applications submitted via Virtual Pag-IBIG for Employers, or loans worth ₱50,000 or more. Over 250 winners will be selected in preliminary draws, leading up to a grand prize of ₱50,000. Meanwhile, the 'Hatid Pana-Loan!' raffle promo rewards Fund Coordinators and Employer Representatives who actively help employees secure a Pag-IBIG MPL. Employer representatives earn one raffle entry for every five approved Pag-IBIG MPL applications they facilitate, with additional entries awarded for applications from first-time borrowers or those submitted via Virtual Pag-IBIG for Employers. Winners in this promo also stand a chance to receive cash prizes, including a grand prize of ₱50,000. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta expressed confidence that the raffle promos will help even more members benefit from the Pag-IBIG MPL, especially by making them more aware of the program's affordability and friendly payment terms. 'Through these raffle promos, we hope to empower our Fund Coordinators, Employer Representatives, and especially our members by highlighting the affordability and convenience offered by the Pag-IBIG MPL,' Acosta said. 'More than just rewards, these initiatives emphasize that the Pag-IBIG MPL is a practical and reliable financial lifeline that benefits members directly. Every loan availed generates earnings for Pag-IBIG Fund, contributing to higher dividends for our members. Simply put, when members borrow from Pag-IBIG Fund, their repayments ultimately benefit them through dividends,' she added. For complete promo mechanics and draw schedules, visit: · Loan to Win: Hatid Pana-Loan: Members may also follow the official Pag-IBIG Fund Facebook page for updates.
