The
Home Development Mutual Fund, more popularly known as Pag-IBIG Fun is set to
link up with at least 19 business partners per region every quarter in up to 32
key cities in the country to make the Fund more relevant to the daily lives of
its members.
“How
do we make Pag-IBIG Fund more relevant to those who are saving but are not yet
ready to borrow money for housing” was one of their concerns according to Pag-IBIG
Fund president and CEO Darlene Marie Berberabe Wednesday.
Ms.
Berberabe, who was in the city Wednesday for the signing of the memorandum of
agreement with its partners, said the Fund now has 12 million members with up
to 60,000 members borrowing every year. But what about the rest, she said.
She
said the Pag-IBIG Privilege Cardholders Program, which will be officially
launched and piloted in the cities of Cebu, Davao and Baguio, was
conceptualized to make the Fund more relevant to members.
Among
the first partners of Pag-IBIG’s new program in Davao are New City Commercial
Corporation, Davao Doctors College and Penong’s Franchise Corporation. These
companies have offered different discounts levels to cardholders every time
they purchase or make payments at the stores.
NCCC
offers a 5% discount for every P1,000 worth of purchase from their hardware and
5% discount for premium cakes bought at their Bakery during the cardholder’s
birthday month. DDS has agreed to provide up to 15% discount on tuition fees of
cardholders and their beneficiaries up to third degree of consanguinity or
affinity upon full payment of the fees. Penong’s offer discounts and freebies
for every P500 worth of transactions.
Pag-IBIG
is still looking a partner and is yet to bid for the services of a company
which will produce the Privilege Cards which will be made available to members
for a minimal fee. Once issued hopefully before the year ends, users of the
Privilege Card in various cities in the country can avail of the discounts
provided by the partner companies.
“We
are focusing on companies relating to health, education, groceries, schools and
restaurants,” she said.
Ms.
Berberabe said the target is to issue around 200,000 Pag-IBIG Privilege Cards
once the program is official launched next year. She said they now have 32
partners in the pilot areas but are still looking for partners nationwide.
“I
am sure we will get more partners because with Pag-IBIG’s 12 million members
and the opportunity to get their stores marketed to these members, it is a good
marketing strategy for these businesses,” she said.
Ace
O. Cayonda, Penong’s Marketing head, said their restaurants cater to the lower
A to C markets and since most of Pag-IBIG members are regular wage earners,
they see the linkage as a good opportunity to promote their brand.
Ms.
Berberabe said they are constantly looking for innovative ways to be more
relevant to their members without increasing their contributions. Our marching
orders from the vice president were to improve the benefits for members without
increasing the monthly cost, she said.
To
do that, she said, they increased their membership base from 8 million to 12.7
million. Pag-IBIG has doubled the maximum loan amount to P3.6 million while
reducing the calamity interest rates from 10.5% to 5.95%, with the monthly
contribution still at P100.
