Air Materiel Wing Savings and Loan Association Incorporated President's Message
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PRESIDENT’S REPORT


Excerpt from the annual report of AMWSLAI Chairman and President Col Ricardo L Nolasco Jr PAF (Ret) delivered during the Annual General Membership Meeting on 05 December 2014 at AMWSLAI Head Office


“.............. At this point, I am very honored to report these financial and operational highlights of 2014.

This year will be remembered as one of the banner years of AMWSLAI. The association continued its outstanding financial and operational performance and maintained its distinct standing as the second largest and one of the most stable and profitable savings and loan associations in the country.

As of 31 October 2014, AMWSLAI has already posted an income of P3.661 B. For the months of November and December, we expect to generate P732 M additional income to bring the income for the year to P 4.393B. As compared to 2013, the expected earnings of P4.393 for 2014 is P407M or 10% higher than 2013.

With reinforced marketing and operational presence in the market, the association sustained its stable and consistent growth.

AMWSLAI’S total resources reached P25.183B the bulk of which is loans to members amounting to P22.536.

The association remained very liquid. The robust and cost-efficient operations were funded by improved collections and members’ savings deposits and capital contributions with levels increasing to P3.518B and P17.988B, respectively.

All in all, the association was very successful in meeting its mission of giving financial empowerment to its members while keeping the association profitable and stable.

  • Dividend distributions of P1.635 were made in January 2014 and July 2014 both at the rates of 4.5%

  • In 2013 and 2014, there were 340 members who became millionaires through our Bawat Miyembro Milyonaryo savings program.

  • To add to that, AMWSLAI members likewise received 194 death claims amounting to P9.7 million and over 3,030 hospital benefits amounting to P50.810 M through our Mutual Benefit Fund and Bawat Miyembro Protektado program, respectively.

These are just some of the facts to say that the association was instrumental in providing improved quality of life for our members.

In 2014, AMWSLAI remained steadfast with its corporate social responsibility projects and advocacies just like in the prior years.”

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