AMWSLAI is RP’s most outstanding SLA

The national confederation of non-stock savings and loan associations has chosen the Air Materiel Wing Support Savings and Loan Association Inc. (AMWSLAI) of the Philippine Air Force as the country’s most outstanding savings and loan association for the year.

The award was given during the 13th Annual Convention of the National Confederation of Non-Stock Savings and Loan Associations (CONSLA) during its recent congress in Zambales.

The awarding ceremonies were held at the White Rock Beach Resort Hotel. It was attended by outstanding financial notables, including Bangko Sentral ng Pilipinas general counsel and assistant governor Juan de Zuñiga Jr., and BSP Thrifts Bank director Candon Guerrero.

The CONSLA is the umbrella organization of all savings and loan associations in the country. The AMWSLAI serves the armed forces and police communities.

The military-based savings and loan association was awarded the most coveted "Top Savings and Loan Association of the Year" after it earned the Award of Excellence in the Field of Net Profit to Average Net Worth (first place) and the Award of Excellence in the Field of Asset Utilization Efficiency (first place).

The awards cited AMWSLAI’s record of earning more than P2.2 billion in net profits for the year 2003.

AMWSLAI was established in 1956 and through the years has become the second largest non-stock SLA in the country with over P16 billion in financial resources and 30,000 members.

Headed by Col. Thaddeus Estalilla (PAF, ret.) as chairman and president and Col. Carlyzar Divinagracia (PAF) as executive vice president and chief executive officer, the association currently operates 44 branches.