THE United Coconut Planters Bank (UCPB) and the Armed Forces and Police Savings and Loan Association, Inc. (AFPSLAI) have signed a memorandum of agreement (MOA) to facilitate the payout of loans that AFPSLAI issues to its members.
Through UCPB’s U-Remit platform, AFPSLAI members can opt to receive their loan proceeds either via over-the-counter or have it credited to their UCPB or other bank accounts.
“Given the nationwide deployment of its members, such as soldiers and police officers, AFPSLAI recognized the need of extending its reach of services,” Girlie Dario, AFPSLAI head of cash and investment management division, said.
“When we sought the help of our partner banks to provide a facility to make it easy for our members to claim their loan proceeds, UCPB was the first to respond by tailor-fitting their system and processes to comply with our requirements,” she added.
With the partnership, AFPSLAI members need to only go to 21 UCPB branches and 50 extension offices nationwide to file their loan application. Once the application is processed and approved, members may opt to have their loan proceeds released or have it credited to their UCPB or other bank accounts.
AFPSLAI president and chief executive officer Virgilio Domingo and UCPB President and CEO Higinio Macadaeg Jr. led the MOA signing, which was held in Makati City.
Macadaeg Jr. said: “Thank you to our partners in the AFPSLAI. I’m glad they found the bank capable of handling their requirement.”
UCPB is one of the leading providers of financial products and services in the country, delivering a full range of expanded commercial banking services to a highly diversified clientele for over 50 years.