“The Government Service Insurance System (GSIS) has approved the grant of emergency loan for GSIS members in La Paz , Agusan Del Sur who were affected by flashfloods caused by heavy rains in the area during the early part of the year.”
This was announced yesterday by President and General Manager Robert G. Vergara. According to Vergara, GSIS members in La Paz may apply for the loan from March 1 to April 2, 2012. He said that a total of 750 government workers in La Paz will benefit from the program. These workers are part of the 6,000 families who were affected by flash floods in the area that caused extensive damage to property, livestock, poultry, rice and corn fields, and infrastructure.
Government workers in La Paz are employed in three public agencies: Agusan Del Sur Division Office of the Department of Education, Municipal Government of La Paz and La Paz National High School.. They may apply for the loan through the GWAPS kiosk using either the eCard or UMID eCard. GSIS members who lost their cards but who are eligible to apply for the loan may apply over-the-counter in any GSIS office.
“The GSIS Board has reduced the interest rate for the Emergency Loan from eight percent to six percent. We also removed the service fee in the loan to make it more responsive to the needs of members especially during difficult times,” Vergara explained.
Eligible members who may file for emergency loan include bona fide employees of the agency located in the declared calamity area or are resident of the declared calamity area; in active service and not on leave of absence without pay; have no pending criminal or administrative charges; have no arrearages in the payment of mandatory social insurance contributions; and have no loan that has been declared in default.
Members in agencies whose loan privileges were suspended because of non-remittance of premium and loan payments are not eligible to apply for the emergency loan.