The Home Development Mutual Fund or Pag-IBIG has confirmed that they are aiming to grow their membership base among the overseas Filipino workers (OFWs). Officials have said that they want to tap the market through partnering with a non-government corporation of overseas recruitment agencies.
A recently released statement by Pag-IBIG indicated that it has tied up with the Philippine Association of Service Exporters Inc. (PASEI) to reach more OFWs in order for them to be aware about the services offered by the fund.
The statement reads:
“Through the partnership, participants attending the Pre-Departure Orientation Seminar (PDOS) conducted by PASEI are required to register with Pag-IBIG and be active Pag-IBIG members.”
Pag-IBIG will be setting up a kiosk at the orientation seminar. That way, members and prospective members will be able to personally address inquiries to them if they want to learn more about the benefits being offered.
The Pag-IBIG kiosk will also provide basic services such as registration or updating memberships, payment of Pag-IBIG savings, Pag-IBIG loan inquiries, and Pag-IBIG loyalty card application.
Pag-IBIG President and Chief Executive Officer Darlene Marie Berberabe said that OFWs are actually required by the law to register as members, as mentioned under Republic Act 9679 or the Home Development Mutual Fund Law of 2009. Still, only 4.4 million OFWs (or 27% of the total number of 16.6 million) are registered as Pag-IBIG members.
“We encourage our OFWs to register with Pag-IBIG,” said Berberabe, “not just because it is required by law, but more important because it offers programs that are beneficial to them.”
“Our savings programs give them an effective mechanism to save their hard-earned money. Our members’ savings are tax-free and government-guaranteed and earn annual dividends at rates higher than other savings facilities. Our housing programs offer competitive interest rates, as low as 5.5 percent for the one-year repricing period,” she also added.
If you are an OFW and are still not a Pag-IBIG member, then you are indeed missing out on a lot of advantages. Go visit their website to learn more.