Pag-IBIG members save record-high P38.82B in H1 2022, up 23%; MP2 surges to P19.40B up 47%

Pag-IBIG Fund members collectively saved P38.82 billion in the first six months of the year, an increase of P7.23 billion or 23% compared to the P31.59 billion collected during the same period last year. This set a record for the highest amount saved by members with the agency for any January to June period.

“I am happy to note Pag-IBIG Fund’s excellent performance in its members’ savings collections. Our strong collections mean that we have funds to finance our programs and continue providing affordable home and cash loans for our members. This is our contribution to the call of President Ferdinand R. Marcos, Jr. to resolve the country’s housing backlog and provide a better life for Filipinos,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Driving the double-digit growth is the continuing popularity of the agency’s voluntary Modified Pag-IBIG 2 (MP2) Savings. MP2 Savings amounted to a record-high P19.40 billion in the first half of the year, growing 47% from the P13.23 billion collected during the same period last year.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti, meanwhile, attributes the agency’s record-high collections to the trust of members in preferring to save with Pag-IBIG Fund, and the support of the business community for the proper and on-time remittance of their employees’ Pag-IBIG Savings.

“The continued growth of our members’ savings is truly remarkable. We are grateful to the business community for responsibly remitting the Pag-IBIG contributions of their employees on time, and to our members for their continued trust in saving with Pag-IBIG, particularly in the MP2 Savings. Should the upward trend in our collections hold, we expect another record-high in terms of total members’ savings by the end of the year. More importantly, with our robust fiscal position, we are confident that we can continue to finance the increasing demand for our loans while keeping interest rates low. This is one of our ways of bringing Tapat na Serbisyo, Mula sa Puso to our members,” Moti said.

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The article was originally published in Inquirer.NET.