THE Public Safety Savings and Loan Association, Inc. or PSSLAI, which is known as the “Bangko ng mga Pulis,” marks its 10th anniversary today boasting of having more than Php13 billion in resources and for being the Philippines’ third largest savings and loan association at present.
Chaired by Philippine National Police chief, Director General Alan LM Purisima, PSSLAI started with a Php54 million capital in 2003 before growing to a Php13 billion company this year, thanks to the patronage of retired and active members of the 148,000-strong police force.
Gen. Purisima is being assisted by retired Directors Lucas M. Managuelod and Ernesto V. Belen in running the PSSLAI. Managuelod is the PSSLAI vice-chairman while Belen is its president and chief executive officer.
Set to transfer its main office to an ultra-modern building outside Camp Crame this year, the PSSLAI’s 10th anniversary will be highlighted by a thanksgiving mass and gala hosted by the PSSLAI Board of Trustees to thank the PSSLAI management, employees, members, and corporate partners in transforming the Camp Crame-based institution with 17 extension offices nationwide.
The PSSLAI is a non-stock, non-profit savings and loan association for the PNP that began its operations on July 1, 2003. Its main objective is to provide our PNP personnel, uniformed and non-uniformed, investment opportunities and immediate access to funds and help them cope with the rising needs of daily living.
Since the start of this month, PSSLAI has launched a series of programs and free medical services to its members. Over 600 police officers and men have benefited already from free complete physical check-up, ECG, X-ray, urinalysis, Bone-density scan and Pap smear services. Free medicines have also been distributed to members as part of the company’s “Balik-Tanaw” corporate social responsibility program.
PSSLAI is now one of the country’s premier savings and loan companies helping the PNP address its different concerns. It already had achieved various milestones including the improvement of its loans operation though the implementation of a new operations system that has resulted in a faster loan processing time apart from it seamless transaction system.
Under Gen. Purisima who is its chairman of the Board of Trustees, PSSLAI has embarked on the so-called Balik-Tanaw Program wherein it has donated millions of pesos to purchase much-needed equipment for use of different PNP units.
It was also able to send deserving PNP personnel to a full scholarship at the Ateneo de Manila University to enhance their skills in family counseling to support the PNP’s Women and Children’s Desk.
Growing at an incredible speed, the PSSLAI now boasts of a membership of more than 70,000 and over Php13 billion in assets, a tremendous increase from the Php54 million capital when it started operating in 2003. Gen. Purisima has cited PSSLAI for being the most accepted savings and loan association by the Philippine police.