Pag-IBIG says members saved a record P66.66B in Jan.-Oct.

Home Development Mutual Fund or Pag-IBIG Fund on Tuesday said its members saved another record-high in the last 10 months of 2022.

In a statement, Pag-IBIG said members saved P66.66 billion from January to October, up 27% in the same period last year and even surpassed the full-year 2021 savings of P63.67 billion.

The agency said the total members’ savings during the period is its highest in history.

“Pag-IBIG Fund has again set another record-high, this time in its members' savings collections. It speaks well of the trust that our members and stakeholders have in our capability to manage their savings excellently and prudently. With more funds, Pag-IBIG remains in a strong position to finance its programs, particularly its home loans, while keeping interest rates on its loans low,” said Secretary Jose Rizalino Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

“All these are part of our efforts in support of President Ferdinand Marcos Jr.’s call for providing a better life for all Filipinos,” he said.

Meanwhile, Pag-IBIG said its Modified Pag-IBIG 2 or MP2 Savings posted record-breaking P33.72 billion or 51% of the agency’s total savings collected by the agency during the period.

Pag-IBIG Fund CEO Marilene Acosta said the MP2 Savings continues to display remarkable growth, as it posted a 57% increase from the P21.43 billion collected during the same period last year.

“The dramatic growth of our MP2 Savings started in 2016, when collections first breached the P1-billion level. We are happy to note that this year is even more remarkable as the P33.72 billion collectively saved by our members during the first 10 months of the year has already well surpassed the entire year’s record-high collection of P25.95 billion in 2021,” she said.

“We thank our members for their continued trust in Pag-IBIG Fund. And, with only a few weeks remaining before the year ends, we assure our members that we are doing all that we can to provide them the best return rates on every hard- earned peso they have saved with us. That is our way of providing them Tapat na Serbisyo, Mula sa Puso,” added Acosta.—AOL, GMA Integrated News