AFPSLAI posts assets of P4.14 billion

The total assets of the Armed Forces of the Philippines Savings and Loans Association Inc. (AFPSLAI) grew by 16.6 percent as of October from a year ago.

AFPSLAI president Reynaldo Gopilan said assets as of October posted a growth of P4.14 billion or 16.6 percent from the 2001 of P24.8 billion or a total of P28.94 billion for this year.

He said AFPSLAI loan production in 2002 will hit P17.52 billion, surpassing its target of P17 billion.

"Total loans released in August at P2.42 billion is the Association’s highest loan attainment record so far," Gopilan said.

He also announced that for the first time in the history of AFPSLAI, a total of P117.7 million in salary loan rebates were given out covering about 195,000 loan accounts.

The rebates ranged from P500 to P2,000.

He said AFPSLAI also aims to enhance the delivery of its services by making all branch offices in the country on-line, adding 27 extension offices can now process loans and not just accept applications.

Gopilan also said the AFPSLAI in 2002 granted 50 slots for its college scholarship programs for qualified dependents of AFPSLAI members.

It also donated two ambulances each for the AFP and the Philippine National Police, and undertook the construction of covered walks in Camp Aguinaldo, he said.

It also launched the Paripa ng Puhunang Pangkabuhayan where a total of P29 million in cash prizes were given to members who availed of loans for entrepreneurial services and succeeded. – Paolo Romero