Pag-IBIG home loans, savings program hit new record highs

MANILA, Philippines — More members availed of Pag-IBIG Fund’s housing loans and voluntary savings program in the eight months to August this year amid the pandemic, eclipsing the previous record highs posted even before the health crisis.

During the agency’s Virtual Stakeholders’ Accomplishment Report held last Friday, Pag-IBIG officials said a total P58.52 billion in home loans were released to 57,235 members from January to August, almost doubled from the P29.9 billion released in the same period last year and 14 percent more than the previous record-high of P51.54 billion in 2019.

On the other hand, members’ savings under the voluntary Modified Pag-IBIG 2 (MP2) Savings program reached P17.73 billion, already surpassing the P13.3-billion record for the whole of 2020.

“Pag-IBIG Fund has remained resilient and responsive to the needs of its members and stakeholders, despite the many challenges that the pandemic continues to bring. Our performance in generating funds which we plough back to the housing industry, not only helps in bringing the country’s housing roadmap closer to reality, but is also key to our nation’s economic recovery. These are our contributions to our nation’s efforts led by President Duterte, as we continue our journey in overcoming this pandemic,” said Secretary Eduardo del Rosario of the Department of Human Settlements and Urban Development (DHSUD) who also chairs the 11-member Pag-IBIG Board of Trustees.

Pag-IBIG CEO Acmad Rizaldy Moti expressed optimism the agency would end the year strong, especially as the government ramps up its vaccination drive toward reopening the economy. He also noted that the agency would continue implementing responsive programs to help members and stakeholders with their continued recovery.

“Even with the ongoing pandemic, the amount of home loans released and MP2 Savings collections from January to August 2021 are not only record highs but are higher than what we achieved during the same period in 2019, prior to the pandemic. The continued trust of our members and stakeholders gives us the confidence that we shall achieve another best year in fulfilling our mandates. In return, we shall remain as their reliable partner by providing programs that address their needs, especially during this health crisis,” said Moti.

Article and Photo originally posted by Philippine Star last September 26, 2021, 12:00am.