Atty. Berberabe, CEO-of-the-Year

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CEO Award Picture4Atty. Darlene Marie B. Berberabe, Chief Executive Officer of the Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG Fund in the Philippines, is ADFIAP’s 2013 CEO-of-the-Year awardee. Atty. Berberabe was cited for her exceptional leadership of her institution as the Philippine’s premier national savings program and the answer to the need for affordable shelter financing for ordinary Filipino workers. The award was given during the Welcome Reception and Awards Night on May 22, 2013 in Ulaanbaatar, Mongolia in conjunction with the ADFIAP Annual Meetings.

Under her leadership, the Fund doubled the home loan cap from Php 3 million to Php 6 million without increasing the members’ monthly contribution/savings of Php100. The Fund also introduced a socialized housing program that fit the needs of minimum wage earners with the lowest interest ever offered in the entire history of the agency – 4.5 per year, guaranteed for 10 years.

Atty Berberabe also embarked on an intensified membership campaign Instead of increasing the monthly mandatory saving contribution from its members. The Fund forged ties with both government and private institutions to extend the coverage of Pag-IBIG fund to all sectors of the workforce. Local Government Units (LGUs) have now required all business owners to register their employees with the Fund before they can start operating. The Fund also inked an agreement with the Philippine Overseas Employment Administration to facilitate the registration of Overseas Filipino Workers as Fund members. To generate membership with the Fund, she also initiated the Fund partnership with various associations of public utility vehicle drivers and household service providers, who are among the lowest paid in the country’s workforce.

In 2012, Pag-IBIG Fund posted tremendous growth, with home loan approvals rising by 12% from the previous year’s figures, representing Php42.8 billion in home financing to create 60,883 units. Calamity loans also registered a 102% increase in borrowers from 312,286 in 2011 to 631,426 by end of 2012. Disbursements aggregated to Php 12.4 billion for the year – the highest payout since 2009.

Leading with progressive insight, Atty. Berberabe is regarded as a game changer in the country’s home mortgage industry. With her unquestionable integrity and outstanding achievements, the University of the Philippines (UP) educated lawyer deserved the acclaim and recognition of the ADFIAP Award for her vision and her many worthy accomplishments in her institution.

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