Please be informed that the PCGSLAI is presently having positive liquidity concerns brought about by abrupt reduction in the loan releases caused by the following external factors:
- Relaxing of “well-defined group” policy by the PCG Command.
- Limiting the authorized signatory of PCG personnel’s loan application to their Commanding Officer only
In view of the foregoing, the PCGSLAI Board of Trustees has initiated the following policy changes to arrest the positive liquidity and to enable the Association to maintain its current dividend at yearend, to wit:
1. CAPITAL CONTRIBUTION
a. NEW DEPOSIT LIMITS - P10,000 per month
b. COVERAGE – All deposit transactions (Over the counter, Remittance, Direct Landbank Deposit and Transfer click here to view or download Memo Circular No. 2014-002
2. SPECIAL SAVINGS DEPOSIT
a. NEW DEPOSIT LIMITS – P50,000 per quarter
b. NEW INTEREST RATE – 4% per annum click here to view or download Memo Circular No. 2014-003
3. MILLIONIONAIRE’S SAVINGS PLAN – suspension of all new applications effective March 2014 click here to view or download Memo Circular No. 2014-004
Further to this, in compliance with BSP Circular 789 series of 2013, effective this calendar year 2014, the PCGSLAI will implement a Once a Year distribution of dividend. The payout shall be done on December 2014. However, to assist the members in their educational and financial needs at Mid-Year, the Association shall offer an Payment Facility called ADVANCE PAYMENT FOR SHARE IN THE FUTURE INCOME (APSFI) of the Association starting May 1, 2014. To avail of this facility, members are required to submit their Application Forms (click here to download form) in original format to the PCGSLAI Accountant on or before June 6, 2014. (Click here to view Memo Circular No. 2014-001 and the Implementing Rules and regulations of the APFSI).
PCGSLAI NOW OFFERS A FIVE (5) YEAR TERM LOAN EFFECTIVE MARCH 2014
The Board of Trustees under Resolution No. 0214-124 has approved a Five (5) Years Loan Term to lengthen the paying period of member-borrowers. This will effectively increase the Net Loan Take Out of Borrowers but at the same will essentially reduce their monthly amortization.
This increase in loan term specifically to help member-borrowers who may want to buy-out their loans from other SLAI.
The Five (5) year loan term is available for the following loan products:
Five (5) year term is also available for Appliance Loan provided all other loans have been fully exhausted. Meanwhile, Emergency Loan Term can likewise be extended up to five years provided the loan is a buy-out from other financial institutions.
All other existing loan terms and conditions apply.