GSIS offers emergency loan program to Cebu quake-hit members

The Government Service Insurance System (GSIS) on Thursday said the pension fund is ready to extend assistance to its members and pensioners in Bogo City and other areas in Cebu declared as calamity areas following the magnitude 6.9 earthquake that struck the province on Tuesday night.

In a statement, GSIS President and General Manager Wick Veloso said that the pension fund stands with government workers and retirees in Cebu “during this difficult time.”

“We want our members and pensioners in Cebu to know that GSIS is with them. We are ready to provide immediate financial relief so they can recover from the impact of the earthquake,” Veloso said.

The GSIS chief said the pension fund’s Emergency Loan Program will be opened to qualified members and pensioners residing or working in Cebu. 

Eligible members and pensioners may borrow up to P40,000 if they have an existing emergency loan or up to P20,000 if they have no outstanding balance. 

The loan is payable in 36 months at an interest rate of 6% per annum, with the first monthly amortization due after three months.

Veloso said that the loan proceeds will be credited electronically through the borrowers’ ATM cards, ensuring fast and safe release of funds. 

Members may apply via the GSIS Touch mobile app, GSIS Wireless Automated Processing System (GWAPS) kiosks, or through the GSIS e-service portals.

Aside from financial aid, Veloso said the GSIS is also closely coordinating with local government units and branch offices in Cebu to ensure uninterrupted service for members and pensioners who may need assistance on claims, benefits, and other programs.

“We urge our members and pensioners in Cebu to use the GSIS Touch app for safer and more convenient transactions, especially during times of disaster,” he added.

The death toll from the devastating Cebu earthquake has risen to 72, according to the latest figures from the National Disaster Risk Reduction and Management Council (NDRRMC) released on Thursday morning.

The magnitude 6.9 earthquake that struck Bogo City, Cebu on Tuesday has affected 47,221 families, or 170,959, and displaced 20,000 persons. —VAL, GMA Integrated News