The Armed Forces and Police Savings & Loan Association, Inc. (AFPSLAI) held its 44th Annual Membership Meeting (AMM) at the Bulwagang Heneral Arturo T Enrile on August 13, 2016, Saturday. Main highlights of the meeting were the review of the Association’s accomplishments for the previous year through the President’s Report and the election of the members of the AFPSLAI Board of Trustees for 2016-2017.
AFPSLAI President and CEO LtGen Virgilio O Domingo AFP (Ret) expressed that 2015 was a tough but encouraging year. AFPSLAI maintained its tenacity by pushing for viable businesses and aggressively pursuing growth objectives amidst challenges that will shape the Association in the coming years.
LtGen Domingo reported AFPSLAI’s financial milestones, which included a Net Income of P7.34B that is 19% higher than the recorded net earnings in 2014 and 5% higher than 2015 net income target. Total Assets reached P65.67B, which is 10% higher than last year. This means that AFPSLAI is still the largest player in the Non-Stock Savings and Loan Association (NSSLA) industry for 2015. Despite the tight and highly competitive environment, the Association remains dauntless and continues to be rooted on stable grounds. Members are assured of a strong capital base that is adequate to fund AFPSLAI’s operational requirements. As of end 2015, the Capital Contribution level was at P42B, a 5% higher compared to year 2014.
LtGen Domingo also announced that AFPSLAI’s position of strength has been affirmed with another feather in its cap. The Association was conferred an award for its outstanding performance in asset management, debt utilization and stability, profitability and growth, and loan efficiency for the year 2015 by the Alliance for Non-Stock Savings and Loan Institutions or ANSLI (formerly known as Confederation of Non-Stock Savings and Loan Associations or CONSLA). The President added that AFPSLAI intends to build on that strength as it gears towards attaining leadership in the financial services industry.
Further, the President stated that AFPSLAI affirms its corporate social responsibility (CSR) initiatives with the inclusion of Social Impact as part of its strategic thrusts for 2016-2022. This manifests AFPSLAI’s commitment to incorporate CSR in our core function, not only as we bring a difference in the lives of our members and their families, but also to the communities that they serve.
This year, AFPSLAI was once again conferred with the Gawad CONSLA Award for the My Gift in a Shoe Box Project that was launched on November 15, 2015 and culminated on December 10, 2015. Close to 200 gift boxes containing a variety of items such as toys, clothes, art materials and accessories were collected and distributed to the underprivileged children of Hospicio de San Jose. Aside from the gifts, AFPSLAI also gave sacks of rice, diapers, canned goods, personal hygiene items, and milk to somehow help the institution cope with its daily needs.
On the other hand, the following were elected as members of the AFPSLAI Board of Trustees for the Year 2016-2017:
- GEN RICARDO R VISAYA AFP
- MGEN ROMEO D LUSTESTICA AFP (RET)
- LTGEN VIRGILIO O DOMINGO AFP (RET)
- VADM LEONARDO C CALDERON JR AFP (RET)
- LTGEN CHRISTIE B DATU AFP (RET)
- MGEN BENITO ANTONIO T DE LEON AFP (RET)
- MGEN EMERALDO C MAGNAYE AFP (RET)
- P/C SUPT EDDIE B BENIGAY
- P/C SUPT ARCHIE FRANCISCO F GAMBOA
- P/S SUPT HERIBERTO O OLITOQUIT (RET)
- COL RIZALDO B LIMOSO (GSC) PA
- COL ELIEZER R GALAM (GSC) PA
- CAPT ALBERTO A CRUZ (GSC) PN
- COL EDGAR M CARDINOZA (GSC) PAF
- FCMS ROMEO H JANDUGAN (INF) PA
Corporate Officers were also elected during the special Board Meeting after the conclusion of AMM:
|GEN RICARDO R VISAYA AFP||Chairman|
|MGEN ROME D LUSTESTICA AFP (RET)||Vice Chairman|
|LTGEN VIRGILIO O DOMINGO AFP (RET)||President and CEO|
|MR HECTOR M ATIENZA||EVP-GM|
|ATTY SAMUEL B PADILLA||Corporate Secretary|
|COL SANNY L GADOT PA (RET)||Treasurer|
|MS ROSARIO D SANTOS||Comptroller|
Two (2) new Extension Offices in Luzon and Visayas areas were opened in order to respond to the needs of the market and provide convenient service to members.
The new Mactan Extension Office was inaugurated last June 27, 2016. The new office is now located at Maximo Patalinghug Avenue, Brgy Pajo, Lapu-Lapu City, Cebu, which is approximately 500 meters away from the Sangi Gate of Mactan Benito Ebuen Air Base where the former office was located.
On the other hand, the Air Force City Extension Office was established to penetrate and increase the AFPSLAI membership from the Philippine Air Force Sector. Inaugurated last August 3, 2016, the new extension office shall be manned by one (1) Field Representative (organic personnel) and one (1) licensed Civilian Field Representative.
Both extension offices shall be equipped with online system for an efficient service to the existing and prospective members within the area.