The Home Development Mutual Fund (HDMF) or Pag-IBIG Fund recorded an increase of 108 percent in membership in 2019, citing economic growth in the city as one of the key factors in this improvement.
Pag-IBIG Puerto Princesa Branch officer-in-charge Emely Platero said Wednesday that employers in the city have been noticeably compliant with the implementation of the Republic Act 9679 or “Home Development Mutual Fund Law of 2009″.
“Ang maganda kasi dito sa Puerto Princesa at Palawan ay responsive ang mga employer, kasi more or less, ang nagpadami ng membership natin ay mga employer — ‘yong mga establishments natin mismo. Ibig sabihin gumaganda ang economy ng Palawan kasi dumadami ang mga employer na nagpapa-register at nagko-comply sa batas mismo natin na Republic Act 9679,” she said.
In 2019, Pag-IBIG Fund Puerto Princesa recorded 65,289 active members out of its original target of 60,343.
Platero said the increase has been steady since 2018 when they recorded a 111 percent increase or 54,858 from 50,132 active members.
This year, she said they are aiming to increase Pag-IBIG membership to 66,024 new members.
Platero added that one of the key performance indicators of a branch is an increase in membership level and savings. It also includes an increase in loan applicants, such as multi-purpose and calamity loans, and those who pay them.
“Isa dyan na madali natin ma-avail na loan ay multi-purpose loan and, of course, ‘yong calamity loan kung may calamity sa area. Sa multi-purpose loan natin, every eight months ay pwede mag-renew basta meron nang six payments, sa calamity kasi ay kung kailan lang may calamity sa area natin, doon lang tayo nagkakaroon,” she said.
The increase in membership level, she also said, has contributed to a growth in their collected monthly contributions. Last year, Pag-IBIG Fund Puerto Princesa Branch recorded P267.372 million in contribution payments compared to its original target of P224.392 million.
In 2020, the local branch is aiming to collect over P260 million.