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PSSLAI Gives Assistance to Victims of Typhoon Ondoy
Photo shows PDIR Ernesto V Belen, President and CEO while turning over the relief goods to PNP-PCRG representative PSI Dinah Colminero. Witnessing the turn over is the Association’s General Manager and Corporate Affairs Officer
PSSLAI joins the whole nation in its massive effort to assist victims of Typhoon Ondoy by providing relief assistance to communities affected by the worst typhoons that struck the country this year.
As part of its corporate social responsibility, PSSLAI donated 500 bags of relief goods, each bag containing ready to eat food, mineral water, disinfectant and toiletries. It can be observed that our Association opted to use a reusable backpack that is waterproof and can be useful for the families affected especially their children. When everything returns to normal, these bags can be used as school bags by the children.
Through the partnership with the Philippine National Police, specifically the Police Community Relations Group, said items were distributed to areas affected by the flood. PSI Dinah Colminero received the relief goods on behalf of PCRG Director, PCSUPT Nicanor A. Bartolome.
Ondoy’s onslaught brought a month’s worth of rainfall over Metro Manila, causing the worst flooding in 40 years. Ondoy has marked a place in history as one of the country’s most damaging typhoons.
6th Anniversary Celebration PNP Multipurpose Hall, Camp Crame, Quezon City
PDIR ERNESTO V BELEN (ret) President and CEO of PSSLAI during the delivery of the Presidents Report
LOOKING BACK
As we celebrate the 6th Anniversary of the PUBLIC SAFETY SAVINGS AND LOAN ASSOCIATION, INC. (PSSLAI), let us look back at the year that passed and see how our financial institution performed amidst an economic environment trying to recover from the recessive effects of the global financial crisis. This report will also show how PSSLAI continues to grow and reach milestones in the highly competitive and regulated Non-Stock Savings and Loan industry.
HUMBLE BEGINNINGS
The early years of PSSLAI started with only a handful of personnel numbering 27 and with a meager initial capitalization of 54 Million pesos. PSSLAI officially opened its doors to generate and accept deposits and solicit and release loans on July 1, 2003.
ROUGH START
It was then definitely no easy task to convince potential members of the stability of PSSLAI since there exists competitors in the industry that definitely did not welcome PSSLAI.
MISSION & VISION
But it was because of PSSLAI’s VISION – to improve the lives of its members and MISSION – to be the instrument of change - that the Association was able to overcome the initial challenges of a start up corporation. Difficulties for PSSLAI lasted only for 6 months. Starting January 2004, PSSLAI rebounded and registered impressive achievements in its operations exceeding all expectations in the industry. It was during the first 5 years of PSSLAI that the association devoted itself to establish a solid foundation –
- Creating the PSSLAI Manual of Operation.
- Setting up of extension offices throughout the country
- Hiring and training of much needed qualified personnel
- Investing in quality hardware and globally accepted IT software
- Establishing a network of competent Field Representatives to support Marketing of PSSLAI
As the Association focused on these, it resulted in PSSLAI experiencing a twenty fold growth in total resources, capital contribution and loans and discounts. PSSLAI is now among the so-called HYPERGROWTH COMPANIES. It took the other SAVINGS AND LOANS ASSOCIATIONS 20 years to achieve these but PSSLAI only needed 6 years. A tremendous achievement within such a short period time.
SOLID FOUNDATION
PSSLAI continued to outperform itself. It exhibited increases in its financial results despite the existence of an economic disturbance brought about by the global financial crisis. Total resources of the Association grew by 46.18% or 1.7 Billion pesos. It is during the first quarter of this year that PSSLAI was able to reach the 5.0 Billion Peso Mark for its total assets. No less than the Bangko Sentral ng Pilipinas acknowledged that PSSLAI is now within the TOP TEN NSSLAS ( Non-Stock Savings and Loan Associations)in the country.
Total assess increased as a result of Loans and Discounts increasing to 4.176B pesos from 3.072B pesos as of the previous year. As Loans and Discounts grew, gross income realized increased from 342M pesos as of June 2008 to 403M pesos during the same period in 2009.
PREFERRED SLAI
The level of trust and confidence given to PSSLAI has continuously gone up as the years went by. Membership is now 66,509 members, 85% of whom are active PNP members or 49% of the total PNP strength. Capital contributions continue to grow at a pace of 36% per annum.
Even as PSSLAI added these achievements to its name, we believe there is still room for growth for the Association as we are continuously soliciting the membership of the remaining 51% share of the market.
TRANSFORMATION AND INNOVATION
PSSLAI has continuously improved its productivity through the implementation of several programs such as:
- Creation of additional Marketing Teams
- Enhancement of the Affordaloan product which aims to assist members through low interest loans
- Computerization of the Accounting Department and the migration of the finance service module to SAP Financial programs.
- Strategic plan covering the period up to 2013
- Introduction of the ATM facility for all account holders
- Improvement of the capability of all PSSLAI Field Offices
LEAN AND MEAN WORKFORCE
Efficiency is another key to the success of PSSLAI. Over the years, the Association has focused on the hiring of capable and highly dedicated personnel. With a lean and mean current workforce of 82 starting from a mere 27 in 2003, the Association’s efficiency and eventually its productivity remarkably improved Starting from “loans generated per employee per year” of 6.02M pesos, it went up to 42.986M pesos in 2008. Indicating that this manpower buildup has been proven to be cost effective as the ration of administrative expenses against loans have gone down from 6.4% in 2003 to 2.4% by yearend 2008. Thus, PSSLAI today spends only a few centavos for every peso of loan generated. Likewise, I.T. support has been a great help in achieving such efficiency, as it was able to integrate al aspects of PSSLAI’s operations – from Accounting, Accounts Management, Finance Service to Loans Monitoring and Collection. The PSSLAI Head Office and all its 15 Regional Extension Offices are now connected to one another via IPVPN that it can now have an on-line, real time verification of transactions.
PSSLAI today presents itself as a viable, stable and profitable financial institution. With 5.4B pesos in total resources to back it up, PSSLAI now actually ranks the TOP 5 among all the Non-Stock Savings and Loan Associations in the country. It can therefore be concluded that there is no other financial institution that could compare to PSSLAI in terms of attainment of growth and profitability in such a short period of time.
BALIK TANAW PROGRAM
PSSLAI as a business entity has reached its goal of becoming a trustworthy financial institution of the PNP. Despite its achievements, the Association has not forgotten the main reason for its existence. It remembers to give back to the Mother Unit that has been very supportive of the Association. Through the “BALIK- TANAW” program of PSSLAI, various offices and units of the Philippine National Police have benefited from donations ranging from computer hardware to housing and office facilities. In this way, PSSLAI is able to uphold its mission of “SERVING THOSE WHO SERVE AND PROTECT”.
PSSLAI is proud of being a young, dynamic and vibrant corporation capable of sustaining continuous annual growth. It is an institution that has been associated with being fair and trustworthy, an association that believes in giving the best service while taking into consideration its member’s stake, the SLAI that would assist its member anytime, anywhere. A potential leader in the Savings and Loan Industry.
OUR APPRECIATION
In behalf of the Association, I would like to take this opportunity to express my sincerest gratitude to all our business partners, represented here by the representatives of our partner banking institutions, our management and staff and most specially our members, for their continued trust, confidence and unwavering support. Our gratitude also to the PSSLAI Board of Trustees, who continually gives us guidance and leads us to realize our goals in making PSSLAI a name to be reckoned with, without all of you, our Association would not be what it is today.
OUR COMMITMENT
Everybody from the Board of Trustees, the Management and the Rank and File, as well as our Business Partners have all done a lot in support of PSSLAI for which we have achieved success. With this success therefore comes not just a promise but more of a commitment, that we will continue to protect the Association as we are the ASSOCIATION OF CHOICE. The Association that is now the Premier Financial Institution of the Philippine National Police. One that will always be in the “SERVICE OF THOSE WHO SERVE AND PROTECT”.
From this day forward, PSSLAI will always be synonymous with
Pangkalahatang Serbisyo at Seguridad ang Layunin ng Ating Institusyon.
PSSLAI – NATIONAL ACCOUNT for RCBC’s Easy Cash Wallet
(From left to right) RCBC Group composed of Mr. Jose P. Ledesma III, Regional Sales Manager; Mr. Ismael R. Sandig EVP and Mr. Lorenzo V. Tan, President/CEO with PSSLAI Group composed of Mr. Ernesto V. Belen, President/CEO; Elieza L. Galvante VP/GM and Mr. Robert P. Santos FSG Manager during the MOA signing at the RCBC Plaza last January 16, 2009
RCBC has tagged the PSSLAI account into a National Account. As a result, PSSLAI members can now request for their PSSLAI Easy Cash Wallet from any RCBC branch – absolutely FREE!!!
PSSLAI Easy Cash Wallet, the country’s only free ATM that does not require any maintaining balance, was recently awarded to PSSLAI at the NATIONAL LEVEL. The Retail Banking Group forged a co-branding agreement with the PSSLAI, which will make the RCBC MyWallet the official ATM service provider of the association with over 65,000 members. As part of the deal, RCBC will provide PSSLAI its own specially designed membership card, which members can also use as their ATM. PSSLAI as of the signing date, has already given away 8,000 Easy Cash Wallet Cards.
6th Annual Membership Meeting
PSSLAI's 6th Annual Membership Meeting was held last January 17, 2009 at the G/F of the PNP Multi-Purpose Hall in Camp Crame, Quezon City which was attended by more than 500 PSSLAI-PNP members mostly from the National Capital Region.
The Annual Meeting officially started at 11:00 am with the Vice-Chairman of the Board of PSSLAI, Atty. Lucas M. Managuelod presiding. Officers and Trustees present during the meeting are as follows:
- Ernesto V. Belen (President/COO)
- George L. Aliño
- Edgar Dula Torres
- Romeo O. Odi
- Enrique T. Bulan
- Clyde L. Fernandez
- Calixto M. Pamplona
- Fortunato G. Guerrero
As early as 10:00 am, PSSLAI members started to queue at the registration tables. Christmas seems to have been extended during the meeting as a lot of prizes both indoor and national were given away. Parlor games and special tokens were also given during the said meeting.
Congratulations to the following National Winners:
WINNERS OF PT145 Taurus Pistol
- NCR - PO1 Rovile F. Orticio
- LUZON - PINSP Alex M. Marasigan
- VISAYAS - PSUPT Gil A. del Prado
- MINDANAO - PO1 Evermor G. Jalmaani
As it has been the usual practice of PSSLAI in sharing blessings to its members every Annual Meeting, two raffle categories were drawn during the meeting. The first is the INDOOR RAFFLE wherein names of attendees were drawn and twenty-one (21) raffle prizes were given away. And the much awaited GRAND RAFFLE which is open to all members regardless if they were present or not during the annual meeting.
CONSOLATION PRIZE WINNERS
- PO1 Amroden P. Balindong
- PO3 Roque D. Butalid
- PO1 Gerald Peter O. Lazarra
- SPO2 Juliano A. Dacman
- SPO1 Dante M. Tamayao
- SPO4 Rosendo S. Maniquiz
- PO3 Charlie U. Camiguing
LUZON WINNER (TAURUS PT145 Taurus Pistol)
CONSOLATION PRIZE WINNER
(Top Photo) GM/EVP Elieza Galvante awards grand prize to winner PINSP Alex Marasigan. (Below) Consolation prize winner PO3 Charlie U. Camiguing receives his prize from President/COO Ernesto V. Belen, included in the picture is GM Elieza Galvante and Marketing Team Leader Ulysses Dimitui
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