In 1999, a group of PCG Personnel, headed by then Captain Padama together with CDR Roque, Lt. Dela Vega, Lt. Barrera, MCPO Repoquit and Atty. Villanueva organized a savings and loan association within the PHILIPPINE COAST GUARD (PCG) as a result of the separation of the Philippine Coast Guard from the Philippine Navy. With a meager capital of only Five Hundred Thousand Pesos (P500,000.00), the soon to become a multi-billion organization, the PHILIPPINE COAST GUARD SAVINGS AND LOAN ASSOCIATION, INC. (PCGSLAI) went on to operate as an exclusive Association and financial provider of the coastguardsmen and the immediate members of their families.
It was in October 21, 2002 when the PCGSLAI was granted a Certificate of Registration by the Securities and Exchange Commission (SEC) and on June 30, 2003, the Bangko Sentral ng Pilipinas (BSP) gave the PCGSLAI a Certificate of Authority to operate as a full-pledged savings and loan association. From the time of its inception to the present, the PCGSLAI has grown strong and has become one of the best Non-Stock Savings and Loans Associations in the country.
PCGSLAI’s membership steadily grew by leaps and bounds. From 981 members in 2002, PCGSLAI’s total membership as of 31 May 2019 is 15,588. Also, its total assets registered unprecedented growth from P71.4 million in 2003, it went on to accumulate a Total Assets of 2.077 Billion as of 31 December 2018.
In 2006, a new set of members of the Board of Trustees (BOT), was elected by then PCG Commandant, ADM DANILO A ABINIOJA PCG as Chairman of the BOT. He was joined by LUIS M TUASON JR, ERNESTO S CABALLERO, CLINIO Y YALAO and ULDARICO R REPOQUIT, all Officers of the PCG. It was during their term when TQM style of management was introduced because ADM Abinoja was known as Mr TQM. The operations of the SLAI was professionalized, members of the Management group were positioned in accordance with their respective expertise.
Employees were not only motivated financially but were also given good and well conducive working environment. In October of 2007, the PCGSLAI inaugurated and moved to its own Building located inside Coast Guard Base Farola. Two years after or in May 2009, the PCGSLAI Annex Building was built and inaugurated to provide even bigger office space and better service to all members. The PCGSLAI has not only able to construct its own building, it has likewise purchased company vehicles not only for an easy and safe transportation of its employees but also the coast guard personnel inside the CGBF.
In 2014, the PCGSLAI acquired a Three Storey Building standing in a sprawling 700sq meters property in FB Harrison St., Pasay City. This property shall become PCGSLAI’s Office Headquarters in the near future.
The Year 2007 has been considered as PCGSLAI’s banner year because it was during this time when the PCGSLAI was recognized by the Association of Non-Stock Savings and Loans Institutions, then CONSLA, as SLAI of the Year 2007. Since then, the PCGSLAI has always been at the forefront and frontrunner in the Operational Awards accorded by the ANSLI during its Annual Convention. This year 2019, the PCGSLAI received four awards from the confederation and brought home the SLAI of the Year 2018, 2nd runner-up award.
From only five members of the PCGSLAI Board of Trustees in 2006, the BSP approved the increase of the board members to eleven trustees effective April 2008. The Board is unrelenting in its quest for beneficial programs and in crafting sensible policies that will benefit the general membership. Aside from the Membership Policy that it has approved to supplement the PCGSLAI-Bylaws on membership concerns, the Board has also institutionalized the PCGSLAI Members’ Welfare and Benefit System (PMWBS), the Advance Payment for Share in Future Income (APSFI) and Corporate Social Responsibility (CSR) undertakings which are all aimed to assist PCGSLAI members.
The PCGSLAI has always been committed to giving the highest yield it can afford to its members and this is evident in the 21% it declared from 2007 to 2015, 20% in 2016 and 18% dividend rate in 2017. The 18% dividend rate also for the year 2018, albeit lower compared to the previous years, is still one of the highest dividend rates in the industry to date and this translated to about P167.28M in dividends to all members.
Notwithstanding the bigger tasks and challenges before us, the Board of Trustees, Management and Staff are looking forward to a better and fruitful years ahead! We are inspired by our Vision to be the Premier savings and loan service provider in the Philippines! We will always be guided by our Core Values – Professionalism, Commitment, Good Governance, Sincerity, Loyalty, Ascendancy and Integrity (PCGSLAI). In so doing, we remain and will always be the Financial Lifeline of all Coastguardsmen.