At its regular meeting on November 18, the Pangasinan Provincial Council adopted Provincial Resolution No. 299-2019 to authorize Governor Espino to enter into a Memorandum of Understanding with the GSIS on behalf of Pangasinan Province. Under the MOA, the Ministry of Education “must prioritize the payment of GSIS loans beyond the payment of loans taken out by DepEd employees from credit institutions, as well as the deduction of monthly capital costing due on loans taken out by DepEd employees under GFAL, from his pay slip to full payment”. The GSIS, on the other hand, completes the police documentation within 30 days of the conclusion of the contract. PASAY CITY, 14 years old. August — The public pension fund Government Service Insurance System (GSIS) has entered into a Memorandum of Understanding (MOA) with the local government of General Mariano Alvarez (GMA) in Cavite for the implementation of the GSIS Financial Assistance Loan (GFAL) program for GMA employees. President Rodrigo Roa Duterte witnessed the signing of the Memorandum of Understanding (MOA) on the implementation of the GSIS Financial Assistance Loan (GFAL), which aims to improve the emergency situation of teachers between the Ministry of Education (DepEd) and the Government Service Insurance System (GSIS) in the lobby of the Malacañan Palace. GFAL is GSIS` balance transfer and debt consolidation facility, which aims to help active ISIS members settle their outstanding credit balances with private lenders. Lobby, Malacañan Palace 16.
April 2018 It was reported that GFAL II offers an interest rate of 6% per annum and a longer repayment period of six years. The resolution drafted by Angel M. Baniqued Jr. and Nestor D., members of Sangguniang Panlalawigan. Reyes said GFAL II was a GSIS credit refinancing program to settle outstanding credit obligations of eligible ISIS members with credit institutions (including government banks, public and private cooperatives). This after Mayor Macario N. Napulan, MD and GSIS Branch Manager Marciana M. Bata officially signed the Memorandum of Understanding to make the GSIS GFAL available to city government employees. GFAL proposes to refinance employees` outstanding loans from private credit institutions through GSIS. The MOA “seeks to refinance outstanding loans from DepEd employees with Private Credit Institutions accredited by DepEd, at much lower interest rates.
It also aims to improve the financial capacity of teachers and preserve their benefits of GSIS. In addition to the implementation of the GFAL, a financial training program for teachers will be implemented to help them better manage and dispose of their funds. Walter Echevarria Jr., Mayor of GMA, and Ms. Lanie Calida, Head of Division I of the GSIS National Capital Region (NCR), NCR Area 1, signed the GFAL MOA at the GMA Municipal Hall. MIAGAO, Iloilo – Local government staff can now enjoy the benefits offered by the Government Service Insurance System Financial Assistance Loan (GFAL) II to government employees. Under GFAL, borrowers can apply for up to a maximum credit amount of P500,000, payable in equal monthly installments for up to six years, at an interest rate of six percent per year. GFAL borrowers, whose outstanding credit from private lenders does not exceed the P500,000, can choose to borrow the remaining amount via the recharge loan. Unlike GFAL revenues paid directly to private lenders, the proceeds of the top-up loan are released to the member. Governor Amado I.
Espino III will enter into a Memorandum of Understanding with the Government Service Insurance System (GSIS) on the use of GSIS Financial Assistance (GFAL II) to provincial government employees. . . .