FREQUENTLY ASKED QUESTIONS (FAQs)
Q.WHAT DOES “WELL- DEFINED GROUP”MEAN?
A. Item b. of Sub-Section 4101S.1 of the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) provides that an NSSLA (Non-Stock Savings and Loans Associations) shall confine its membership to a well-defined group of persons
- A well-defined groupshall consist of any of the following:
(1) Employees, officers and trustees of one (1) company including member retirees;
(2) Government employees belonging to the same office, branch, or department, including member-retirees; and
(3) Immediate members of the families up to the second degree of consanguinity or affinity of those falling under Items “(1)” and”(2)”above.
Q. HOW DOES THE MORNFBI AFFECT THE MEMBERS OF PCGSLAI? A.The PCGSLAI, being under the supervision of the BangkoSentral ng Pilipinas (BSP), has to comply with the MORNBFI and other BSP Regulations, to wit:
- Only the active officers, non-officers, trainees, draftees,civilian employees and retirees of the Philippine Coast Guard, to include the immediate members of their families up to the 2nd degree of consanguinity or affinity, are considered within the well-defined group and therefore qualified to be members of PCGSLAI.
A.Membership with PCGSLAI can be terminated due to the following reasons to wit:
- a. Death;
b. Member initiated termination;
c. Separation from the active service in the PCG other than forretirement;
d. Conviction by final judgment of a court of law or administrativebody for a crime, act or omission in his/her private capacity, as amember of PCGSLAI or as a PCG personnel; and
e. Disloyalty or committed act prejudicial to the best order/interest of the Association.
Q. WHY DO YOU HAVE TO TERMINATE HIS MEMBERSHIP WITH THE PCGSLAI DUETO HIS SEPARATION FROM THE PCG?
A. A member who was separated from the active service in the PCG other than for retirement is no longer considered within the well-defined group, hence, his membership together with the membersof his family who are members of PCGSLAI have to be terminated.
Q. WHAT HAPPENS IF A MEMBER IS CONVICTED BY A COURT OF LAW OR AN ADMINISTRATIVE BODY?
A.The membership of a member who was convicted by final judgment of a court of law or administrative body for a crime, act or omission in his/her private capacity, as member of PCGSLAI or as PCG personnel shall be terminated together with the members of his/her family.
Q. CAN A PCG PERSONNEL WHO WAS SEPARATED FROM THE SERVICE, PCG AND WHOSE MEMBERSHIP WITH PCGSLAI WAS TERMINATED DUE TO EARLIER CONVICTION FOR A CRIME COMMITTED BUT FILED AN APPEAL AND WAS EXONERATED AND REINSTATED IN THE SERVICE, PCG, RESTORE HIS MEMBERSHIP WITH PCGSLAI?
A.Yes. A member who has been separated from the service, PCG and his/her membership with PCGSLAI has been terminated due to his/her separation from the service, filed an appeal and has been exonerated and reinstated in the active service, PCG, can apply for restoration of his/her membership to include the members of his/her family within 90 days and can redeposit the same amount of the account balance at the time of the termination of membership regardless of the existing limit on deposits.
Q. WHAT HAPPENS TO THE MEMBERSHIP OF A PCG RETIREE WHO WAS CONVICTED BY A COURT OF LAW OR AN ADMINISTRATIVE BODY?
A. A PCG Retiree who was convicted by judgment of a court of law or administrative body for a crime, act or omission in his/her private capacity, as member of PCGSLAI or as PCG personnel, whose conviction is still on appeal can retain his/her membership until the final judgment has been issued by a competent court.
Q. IS THE PCGSLAI ACCEPTING IMMEDIATE MEMBERS OF THE FAMILIES OF PCG PERSONNEL UP TO THE SECOND DEGREE OF CONSANGUINITY OR AFFINITY?
A.Although the law, and even the By-Laws of PCGSLAI allow the immediate members of the families up to the second degree of consanguinity or affinity to be members of PCGSLAI, the Board of Trustees, as a matter of good governance, is given the prerogative to limit or temporarily suspend acceptance of immediate members of the families as a measure to safeguard the liquidity of the Association. For the meantime, only spouses of members are accepted to be members of PCGSLAI.
Q. WHO IS QUALIFIED TO BE ELECTED AS MEMBER OF THE BOARD OF TRUSTEES?
A.Sub-Section 4141S.2 of MORNBFI provides that: “No person shall be eligible as trustee of a Non-Stock Savings and Loan Association (NSSLA) unless he is a member of good standing of such NSSLA.” In addition, he shall have the following minimum qualifications:
a. He shall be at least twenty-five (25) years of age at the time ofhis election;
b. He shall be at least a college graduate or have at least five (5)yearexperiencein business;
c. He must have attended a special seminar on Corporate Governance for Board of Trustees conducted by a duly accredited Training Partner of the BangkoSentral ng Pilipinas; and
d. He must be fit and proper for the position of a trustee of the NSSLA.