Pag-IBIG-N. Mindanao collection hits P3.1 billion

CAGAYAN DE ORO CITY – The Home Mutual Development (Pag-IBIG) Fund's collection in Northern Mindanao reached P3.1 billion in the first 10 months of 2024 or a 96-percent collection efficiency rate.

Speaking at Tuesday's Kapihan sa Bagong Pilipinas forum here, Pag-IBIG-Region 10 acting head Josiemer Damay attributed the robust collection to the region's 112,000 regular members and P2.8 billion disbursed to borrowers this year.

"Our 96-percent collection efficiency is one of the highest in the country," Damay noted, placing Northern Mindanao among the top five regions nationwide in Pag-IBIG collection performance.

Damay also cited Pag-IBIG's collaboration with the Department of Social Welfare and Development under the Pantawid Pamilyang Pilipino Program (4Ps).

The initiative, piloted in Cagayan de Oro, provides low-income earners a special savings plan with favorable interest rates.

It aims to benefit around 8,000 4Ps beneficiaries in the city. (PNA)