Pag-IBIG savings collection up to over P25B in 2021, CEO says

The Philippine Home Development Mutual Fund (Pag-IBIG) has collected P25.88 billion in savings from its members this year, which is 63 percent higher compared to last year's collection, its CEO Acmad Rizaldy Moti said Friday.

Interviewed at the Laging Handa public briefing, Moti reported that as of May 2021, they now have 13.08 million active members following the addition of 310,000 members from 12.77 million actively paying members in December last year.

"Ito po ay patunay na 'yung ginagawa ng ating pamahalaan ay nagbubunga na ng tuloy-tuloy" (This is proof that the government's efforts against the pandemic is showing effects), Moti said.

Likewise, Moti said that collections for the MP2 savings program from January to May 2021 more than doubled with P10.67 billion, which is 109% higher than last year's.

Pag-IBIG was also able to issue housing loans worth P35.28 billion, which is also "almost double" to 97 percent compared to the first five months of last year.

Also in the first five months this year, Pag-IBIG released P35.28 billion worth of housing loans, with 34,979 housing loan borrowers.

Further, the agency released P17.52 billion in multi-purpose loans or calamity loans with 826,279 short-term loan borrowers.

According to Moti, said around 25 percent of the short-term loan borrowers were minimum and low-wage earners.

The government granted Pag-IBIG for Fund's request for its employees to be included in the A4 priority list in the COVID-19 vaccine program to address the concerns of its members. —LBG, GMA News