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Information About AFPSLAI

AFPSLAI stands for Armed Forces and Police Savings & Loan Association, Inc. It is a private savings and loan association established in 1972 that primarily serves military and police personnel. As a member, you can access high-interest savings accounts and loans. The article discusses the membership eligibility, products offered like loans and savings accounts, how AFPSLAI operates similarly to a bank, and evaluates it as a relatively safe investment with competitive returns compared to other options. Comments from readers share their positive experiences as long-time AFPSLAI members.

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Heinrich Damolo
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304 views1 page

Information About AFPSLAI

AFPSLAI stands for Armed Forces and Police Savings & Loan Association, Inc. It is a private savings and loan association established in 1972 that primarily serves military and police personnel. As a member, you can access high-interest savings accounts and loans. The article discusses the membership eligibility, products offered like loans and savings accounts, how AFPSLAI operates similarly to a bank, and evaluates it as a relatively safe investment with competitive returns compared to other options. Comments from readers share their positive experiences as long-time AFPSLAI members.

Uploaded by

Heinrich Damolo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Information About AFPSLAI


General Information In Focus

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What is AFPSLAI? How does it work? Is it good to


invest in it? Is my money safe in AFPSLAI?

Those are the questions that we will try to answer


today as I know a good number of people are
actually interested to know them.

A friend of mine, who works at the PNP, recently


told me that he had put money into AFPSLAI, which
then inspired me to write this post.

Anyway, for those who don’t know, AFPSLAI stands


for Armed Forces and Police Savings & Loan
Association, Inc.

It is a private, non-stock and non-profit savings


and loan association established and registered
with the Securities and Exchange Commission
since 1972. It is supervised by the Bangko Sentral
ng Pilipinas and one of the leading providers of
financial products and allied services to the AFP,
Army, Air Force, Navy, PNP, BFP and BJMP.

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What exactly is AFPSLAI?

In simple terms, it is a savings and loan


“corporation”. It is NOT a bank, but operates LIKE a
bank. And not everyone can open an account with
them, or in more exact terms, become a member of
the association.

Regular Membership is limited to:

Military O!cers
Military Enlisted
AFP/PNP Retiree/Pensioner
AFP/PNP Pensioners (Widow/Widower/Orphan)
Inactive/Reserved O!cer
PNP O!cer/Non-O!cer
Civilian Employees (AFPSLAI-accredited
institutions)
Resigned from Service/Honorably Discharged
(for AFP/PNP military/police only)
BFP/BJMP O!cer/Non-O!cer.

Meanwhile, Associate Membership is open to:

Legitimate spouse of regular married member


Legitimate children of the regular married
member (21 years old and above)
Philippine Veterans Administration O!ce
(PVAO) pensioners
PNPA/PMA/PAF Cadet
Candidate O!cers (OCS and NOCC)

So if you don’t qualify to any of those, then


AFPSLAI is not for you. However, if you are, or if
you know someone who is qualified, then better
read on.

How does AFPSLAI work?

The easiest way to understand how AFPSLAI


operate is to compare it to a bank. Currently, they
have twenty-one (21) o!ces and fifty (50)
extension o!ces around the country. Their “main
branch” or head o!ce is located at EDSA cor
Bonny Serrano Rd., Camp Aguinaldo, Quezon City.

Loan Products
As a member of AFPSLAI, you have access to their
loan products which can help you with your
financial needs. They offer salary loans, personal
loans, housing loans, auto loans and even business
loans to name a few. The interest rates, in my
opinion, are actually very competitive.

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Deposit Products
More importantly, members of AFPSLAI can avail
of their deposit products. Particularly, the Capital
Contribution Account (CCA) which is a high-
dividend earning “savings” account; the Pension
Account for pensioner remittances, and the simple
Savings Deposit Account, which gives a tax-free
3% per annum interest (better than any
commercial bank I know).

Other Products
AFPSLAI also has other products and services
such as ALMS, which is similar to life insurance;
AMD, an automated investment service; APEX, for
remittance of pensions; and SMS, a text-message
service. They also offer college scholarships.

AFPSLAI as an Investment

Members of AFPSLAI are very lucky because they


have access to one of the best investment
products I’ve seen, the Capital Contribution
Account (CCA), which according to reports for the
past 10 years, have produced an incredible,
average tax-free dividend of at least 18% per year.
That’s as good as the stock market!

CCA regulations limit a member’s contribution to


only P30,000 per quarter. However, one can be
exempt from the P30,000 per quarter limit if the
member enrolls in the Automatic Monthly
Deduction (AMD) service.

Moreover, there is a maximum total contribution of


P3M for Regular Members and only P1M for
Associate Members. So if your contribution
reaches that limit, you can no longer place money
in CCA.

So assuming you have P3M placed in CCA, that’s


P45,000 per month dividend for you – not bad,
right? If I am qualified to be a member, I’d definitely
place some of my money here.

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UPDATE: Figures above are from 2013, the year this


article was written. As of 2017, the dividend has
been reduced to 16%, which is still high. The limit
has also been reduced to P15,000 per quarter. And
Associate Members can no longer make a
contribution.

Is it safe to put money in AFPSLAI?

I took time to read their 2012 Annual Report and


found their finances to be stable.

Personally, the biggest risk with AFPSLAI is poor


investment decisions and mismanagement. The
last reported news related to this happened in
2006, where they lost money in their investments
with Centennial Savings Bank and Centennial
Financing Corp. (Source) But I think AFPSLAI has
already recovered from that loss and members
have not been severely affected by it during that
time.

Short to say, I believe your money is safe in


AFPSLAI.

I have good faith with them and believe that it is


stable and currently managed by competent
people. But for risk-averse individuals, I’d advise
not to put all your money in there.

—
So there you have it, a primer on the Armed Forces
and Police Savings & Loan Association, Inc. or
AFPSLAI. To learn more about them, you can visit
their website at www.afpslai.com.ph.

If you are a member of AFPSLAI, or know


somebody who is, then I hope you can give below
as a comment your experience with them. Thank
you.

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69 comments

Beth says:
July 10, 2013 at 8:18 am

Good to hear this from you Fitz since we have


an investment in Afpslai,

Beth says:
July 10, 2013 at 8:33 am

Hi Fitz,
Just wanna ask that the PDIC insurance if for
both your savings account and capital
contribution (CAPCON) account? Thank you.

Cher Cabula says:


July 10, 2013 at 4:48 pm

Hi Fitz! My dad used to have some savings in


AFPSLAI and yes I agree that it’s safe to have it
invested there. I especially would like to
comment that in case of emergencies and you
need to withdraw your money immediately, you
don’t have to go through a very di!cult
process. A representative will just check if your
request to withdraw (esp for huge amounts) is
valid and they will release the money without
any red tape whatsoever.

edmund lao says:


July 10, 2013 at 8:35 pm

AFPSLAI is like a mutual fund companuy, am I


not right in my understanding?

Herbs says:
July 11, 2013 at 2:24 am

My husband and me are AFPSLAI member for


more than 20 yrs now. We started when there
was no maximum limit contribution for member
and the interest rate then was 20% . It was
unbelievable knowing that the rest of the bank
interest rates was only 5-10 % for time deposit
account .
And you’re right. Now there is a 3m maximum
limit for active member and 1m only for
associate member with an interest rate of 18%.
And you’re also right- it is comparable to stock
market – even better esp now that the stock
market is in its bearish period.
Withdrawing money is easy just like in the bank
even up to million pesos.
Their saving account has an interest rate of 3%
– much higher than any bank around.
I hope it is there to stay.

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Herbs says:
July 11, 2013 at 2:24 am

My husband and me are AFPSLAI member for


more than 20 yrs now. We started when there
was no maximum limit contribution for member
and the interest rate then was 20% . It was
unbelievable knowing that the rest of the bank
interest rates was only 5-10 % for time deposit
account .
And you’re right. Now there is a 3m maximum
limit for active member and 1m only for
associate member with an interest rate of 18%.
And you’re also right- it is comparable to stock
market – even better esp now that the stock
market is in its bearish period.
Withdrawing money is easy just like in the bank
even up to million pesos.
Their saving account has an interest rate of 3%
– much higher than any bank around.
I hope it is there to stay.

Bryan says:
July 11, 2013 at 9:51 am

Hi Fitz,

Thanks for this article. I remember 10 year ago


during my high school years my father opened
an AFPSLAI account for me and my brother.
Those where the times I get more than 4%
dividend interest every quarter, that’s about
20% per year. AFPSLAI is my only investment
vehicle back then, until I attended IMG-Wealth
Academy in Cebu and decided to diversify.

Ranger Perots says:


July 20, 2013 at 12:34 am

Hi Fitz,

I’m an Army o!cer and I’m glad I invested in


AFPSLAI. The dividend is doing great as usual.
Unfortunately, I invested late in that military
financial institution since there’s already a 10k
limit every month. For automatic deductions of
active personnel, it can be 20+k for one month.
Those people who invested early are so lucky!
Actually, I made a blog about this so that
soldiers will understand that this is a good
investment.

You can check my site: A Wise Filipino Soldier

Thanks for sharing!

joel says:
September 27, 2013 at 10:17 am

Sir base on AFPSLAI website, deposits are not


insured in PDIC.. i red it on their FAQ page.
thanks..

Fitz says:
September 27, 2013 at 5:17 pm

Hi Joel, I’ve edited the article for now and I’ll


look more into that, thanks.

My basis for saying that it is covered is in the


PDIC website:

http://www.pdic.gov.ph/index.php?
nid1=6&nid2=1&nid3=7

newbie investor says:


November 9, 2013 at 8:08 pm

Hi Fitz,

I am glad you take time to post this article on


AFPSLAI.
Indeed, it is true and I am a member of this
years back.
I am happy with them because of the High
Interest and
it encourage me more to save with AFPSLAI.
But now, I want
to look for a trusted person who is a member to
deposit in
their account since the AFPSLAI is having limit
on placement.

Keep writing!

newbie investor says:


November 9, 2013 at 8:13 pm

Hi Fitz,

AFPSLAI is a good investment vehicle.


I am experiencing it by myself.
It is so inspiring to see the figures of your
passbook
digits becoming double.

Good Article and Reliable.

Keep writing!

newbie investor says:


November 9, 2013 at 8:19 pm

Hi Fitz,

If you are not yet married,


marry a police woman then you will be in..

Kidding here but it’s true…

or anyone there who don’t have chance to be a


member,
then look for a partner in police, army, air force.
And make your partner become a regular
member and
you can be an associate member.

Just saying…

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