We recently concluded our Slogan-Making Contest that ran from November 3 until March 31, 2015. The aim of the Contest is to conceptualize a slogan that is in line with the corporate tagline, “We value your trust”. It will also serve as a battle cry for all our front line employees as they deliver quality service to the members.
The winning slogan, as featured on our cover, is: “Sa tiwala mo, serbisyong totoo, maaasahan mo”. The winning slogan will be registered with the Intellectual Property Office (IPO) as a trademark of AFPSLAI.
The Grand Prize Winner will receive P20,000, while the First and Second Runner-ups will receive P10,000 and P5,000, respectively. Consolation prize winners will each receive an AFPSLAI travel bag.
On May 30, 2015, the Armed Forces and Police Savings & Loan Association, Inc. (AFPSLAI) held its Annual Membership Meeting at the Bulwagang Heneral Arturo T Enrile in Camp Aguinaldo, Quezon City. Regular members convened for the review of the Association’s accomplishments for the year 2014 through the President’s Report, approval of the amendments to the By-Laws, approval of the new policy on Individual and Family Capital Contribution Limits, and election of the Board of Trustees for 2015-2016.
In his Opening Remarks, the AFP Chief of Staff and Chairman of the Board of Trustees, Gen Gregorio Pio P Catapang AFP, said that “As a financial institution, we are also mandated to further contribute in strengthening this industry and contributing to the increase of the people’s trust and respect in this industry. All these endeavors will ultimately contribute in helping our countrymen, properly manage their finances, and encourage them to make wise savings and investments decision. In the long haul, this is a key factor in our drive to achieve peace, progress and prosperity for our nation.”
Highlights of the Report of the President & CEO, Col Diosdado M Domingo PA (Ret) are as follows:
- Gross Income of P 9.46B grew by 16.1% from last year’s figure of P 8.15B. This also represents a 101% attainment of the year’s target of P 9.33B.
- Total Operating Expenses amounted to P 3.31B, exceeding the year’s budget of P 3.18B by P 135M or 4.2%. This is also P 1.24B or 59.5% higher than the expense level in 2013. Fifty-one percent (51%) of the total Operating Expenses was used to set up Provision for Probable Losses (PPL) amounting to P 1.69B in full compliance with BSP Circular 789.
- Net Income of P 6.15B is slightly higher than the P 6.07B net earnings in 2013.
- Dividend granted to the members through the Expected Dividend Advance or EDA facility was at 15.5%, which is even higher than the year’s target of 14.5% per annum. Total dividend distributed to members amounted to P5.83 B, also higher by P 290M than what was distributed in 2013.
- Gross Loan Production reached P 38.55B, which is slightly short of the year’s target by 1.3%, but still higher by 3.7% when compared with the actual production in 2013 at P 37.19B.
- Total Assets aggregated to P 59.64B or an increase of P 4.53B or 8.2% from last year’s level of P 55.11B. This is mainly composed of Loans at 76%, Liquid Assets at 22%, and Fixed & Other Assets at 2%.
- Past Due ratio slightly increased to 0.15% as a net effect of the reclassification of loan accounts per BSP Circular 789 and write-off of uncollectible past due accounts.
- Capital Contribution stood at P 39.87B reflecting a growth of P 2.96B or 8%.
- Deposit Liabilities grew by 10.5% as it reached P 10.55B as of year-end 2014.
- A forged Memorandum of Agreement with the Philippine Veteran’s Office (PVAO) in June 2014, making AFPSLAI as one of its accredited financial institutions through which pension disbursement of PVAO veterans/ pensioners is made using the Direct Remittance Pension Servicing System;
- Deployment of the Membership Recruitment Team that focused on market segments where potential is high;
- Removal of certain documentary requirements of Emergency Loan;
- Facilitation of learning programs aimed at developing a culture of excellence that builds on good customer relationship and exceptional work values (Service Mileage Program and the newly-formulated Code of Ethical Standards);
- Conduct of post-implementation review of the Integrated Mission Critical System II (IMCS 2) by engaging the services of SGV Consulting; and
- Upgrade of the Credit Redemption Insurance coverage with the accreditation of Philippine American Life and General Insurance Company (Philam Life).
CORPORATE SOCIAL RESPONSIBILITY PROGRAMS
- A total of 20 scholars graduated for the AY 2013-2014;
- A total of P 42.19M in financial assistance was released to families of deceased members through the Assistance to Lift Members’ Survivors (ALMS) Program;
- A total of P 9.77M was released as donation in support of programs that create a positive impact to members and partner institutions;
- A total of P 1.94M was utilized for the Medical and Dental Missions held in AFPSLAI’s 21 branch offices.
The following were elected as members of the Board of Trustees for the Year 2015-2016:
- Gen Gregorio Pio P Catapang AFP
- LtGen Cardozo M Luna AFP (Ret)
- Col Wilfredo G Nuqui PA (Ret)
- Col Diosdado M Domingo PA (Ret)
- P/Dep Dir Gen Rommel DF Heredia (Ret)
- VAdm Leonardo C Calderon Jr AFP (Ret)
- MGen Romeo D Lustestica AFP (Ret)
- P/C Supt Rex Milton A Dolino (Ret)
- P/Dep Dir Gen Felipe L Rojas Jr (Ret)
- Capt Ramon S Ochoco (GSC) PN
- Col Cesario T Almendral (GSC) PA
- Col Rizaldo B Limoso (GSC) PA
- Col Jose M Benitez (MNSA) PAF
- FCMS Guillermo P Francisco (INF) PA
In a closed door conference, the new Corporate Officers were elected. Gen Gregorio Pio Catapang Jr AFP was re-elected as Chairman, while LtGen Cardozo M Luna AFP (Ret) was elected as the new Vice Chairman of the Board of Trustees. MGen Romeo D Lustestica AFP (Ret) and Atty Samuel B Padilla were re-elected as EVP-GM and Corporate Secretary, respectively. The other Corporate Officers who maintained their posts are Mr Hector M Atienza as Treasurer, and Ms Rosario D Santos as Comptroller.
Yearly, the Confederation of Non-Stock Savings and Loan Associations, Inc. (CONSLA) recognizes its member-associations with commendable corporate social responsibility (CSR) programs. The Gawad CONSLA Award is conferred to the association that affirms its advocacies on socially-responsive initiatives through programs that uplift the lives of its members, their families and the community it serves.
This year, AFPSLAI bagged the Gawad CONSLA Award for its “Share-A-Book Campaign”. AFPSLAI’s Share-A-Book Campaign, which was launched on October 1, 2014, aimed to encourage employees and members to donate new and old books from October 1 to November 30, 2014. The books collected were then distributed to schools, preferably to those that cater to dependents of the men in uniform. More than 2,000 books were collected in all AFPSLAI branch offices nationwide. The books were distributed to 17 schools, namely: Fort Aguinaldo Elementary School, President Diosdado Macapagal High School, Camp Crame Elementary School, Sangley Point Elementary School, Sangley Point National High School, Gulang-Gulang Elementary School, PRO5 Children’s Learning Center, Inc., Airforce City Elementary School, Camp Melchor F Dela Cruz Elementary School, Mactan Benito Air Base Officers Ladies Club Day Care Center, Camp Peralta Elementary School, 8th ID Daycare Center, Campetic Day Care Center, Anuling Elementary School, AFP Logistics Command Elementary School, Children’s Joy Foundation and Tabak Elementary School.