Seven projects of the Home Development Mutual Fund or Pag-IBIG were recognized by an ASEAN organization for their innovative developments, the agency said on Monday.
In a statement, Pag-IBIG said it received the most Excellence Awards among 13 member-agencies of the Asean Social Security Association (ASSA) at the ASSA Recognition Awards 2016.
The Fund’s projects received awards under categories such as Innovation, Transformation, Customer Service, Communication, and Financial Literacy.
The GHLP and Outsourced Collections of Delinquent Accounts are under Pag-IBIG’s home lending operations that make the purchase of homes easier for prospective homeowners.
Among the Pag-IBIG projects that were recognized were the Pag-IBIG Loyalty Card and Group Housing Loan Program (GHLP) under the Innovation category, and the Outsourcing of Collections of Delinquent Accounts through Collection Agencies under Transformation category.
“Through the GHLP, Pag-IBIG partners with LGUs, employers, and associations to make home finance more accessible to their respective constituents or beneficiaries,” Pag-IBIG said.
Pag-IBIG noted that the GHLP and Outsourced Collections of Delinquent Accounts are under Pag-IBIG’s home lending operations.
“By outsourcing collections through accredited collection agencies, Pag-IBIG guided borrowers on the prompt payment of their home loans and increased its performing loans portfolio, leading to more funds for home finance,” the Fund said.
Other Pag-IBIG Projects such as the Pag-IBIG Overseas Filipino Worker (OFW) Center were recognized under the Customer Service category, while the I Do, I Do! Araw ng Pag-IBIG and Alam mo ba? Series was recognized under the Strategic Communication category.
Also, its OFW Dagdag-Ipon Raffle Promo was lauded under the Financial Literacy category.
The abovementioned programs are part of Pag-IBIG’s member services operations that promote membership and savings.
The ASSA Recognition Awards were formed last year by The Employees Provident Fund, a member of the ASSA from Malaysia.
“The Awards aim to recognize outstanding projects and spur innovation among member-agencies for them to continue doing more for their respective clients,” Pag-IBIG said.
Ng Chee Peng, ASSA Chairman and Chief Executive Officer of the Central Provident Fund Board in Singapore presented the awards to Pag-IBIG Senior Vice President for Financial Services Sector Florentino Espana, Jr. at the recently held 33rd ASSA Board Meeting and Conference at Sofitel Hotel, Manila.
Apart from Pag-IBIG, two other projects from the Philippines were also recognized, one each from PhilHealth and the Government Service Insurance System.