Signing the MOA are: (from left) Girlie E. Dario, AFPSLAI SVP, Controllership Department; Vice Admiral Gaudencio C. Collado, Jr., (Retired, Philippine Navy) AFPSLAI President and CEO; Elmarie S. Reyes, BancNet CEO; and Roel S. Tan, BancNet Chief Risk and Compliance Officer.
The Armed Forces and Police Savings & Loan Association, Inc., or AFPSLAI, has joined electronic banking and payment network BancNet. Their membership agreement was signed at the AFPSLAI headquarters in Camp Aguinaldo, Quezon City on February 12, 2024, by AFPSLAI president & CEO Vice Adm. Gaudencio C. Collado, Jr. (Retired, Philippine Navy) and BancNet CEO Elmarie S. Reyes.
AFPSLAI is the largest savings and loan association in the country, counting more than 600,000 members in its roster. These members include uniformed and civilian personnel of the different branches of the armed forces, the police, Bureau of Fire Protection, and Bureau of Jail Management, and their families nationwide. Established in 1972, its mission is to help improve the quality of life of its members by providing them excellent financial products and services. By connecting to BancNet, AFPSLAI will give its members the convenience of withdrawing cash from their savings accounts through any of the over 26,000 ATMs of BancNet member banks across the country. They will also be able to pay their purchases by debiting their accounts through more than 500,000 point-of-sale (POS) terminals at various business establishments nationwide.
Reyes welcomed AFPSLAI as BancNet’s 112th member and assured its members that BancNet is “committed to delivering secure and efficient services 24/7 to our members through cutting-edge technology, a strong cyber security posture, good corporate governance, agile human resources, and stable financial position.”
BancNet interconnects banks, savings and loans associations, cooperatives, electronic money or e-wallet issuers, and independent ATM deployers. The consortium was established in 1990.
