Information About AFPSLAI

Posted by Fitz Villafuerte under General Information, In Focus on July 10, 2013

What is AFPSLAI? How does it work? Is it good to invest in it? Is my money safe in AFPSLAI?

Those are the questions that we will try to answer today as I know a good number of people are actually interested to know them.

A friend of mine, who works at the PNP, recently told me that he had put money into AFPSLAI, which then inspired me to write this post.

Anyway, for those who don’t know, AFPSLAI stands for Armed Forces and Police Savings & Loan Association, Inc.

It is a private, non-stock and non-profit savings and loan association established and registered with the Securities and Exchange Commission since 1972. It is supervised by the Bangko Sentral ng Pilipinas and one of the leading providers of financial products and allied services to the AFP, Army, Air Force, Navy, PNP, BFP and BJMP.


What exactly is AFPSLAI?

In simple terms, it is a savings and loan “corporation”. It is NOT a bank, but operates LIKE a bank. And not everyone can open an account with them, or in more exact terms, become a member of the association.

Regular Membership is limited to:

  • Military Officers
  • Military Enlisted
  • AFP/PNP Retiree/Pensioner
  • AFP/PNP Pensioners (Widow/Widower/Orphan)
  • Inactive/Reserved Officer
  • PNP Officer/Non-Officer
  • Civilian Employees (AFPSLAI-accredited institutions)
  • Resigned from Service/Honorably Discharged (for AFP/PNP military/police only)
  • BFP/BJMP Officer/Non-Officer.

Meanwhile, Associate Membership is open to:

  • Legitimate spouse of regular married member
  • Legitimate children of the regular married member (21 years old and above)
  • Philippine Veterans Administration Office (PVAO) pensioners
  • PNPA/PMA/PAF Cadet
  • Candidate Officers (OCS and NOCC)

So if you don’t qualify to any of those, then AFPSLAI is not for you. However, if you are, or if you know someone who is qualified, then better read on.


How does AFPSLAI work?

The easiest way to understand how AFPSLAI operate is to compare it to a bank. Currently, they have twenty-one (21) offices and fifty (50) extension offices around the country. Their “main branch” or head office is located at EDSA cor Bonny Serrano Rd., Camp Aguinaldo, Quezon City.

Loan Products
As a member of AFPSLAI, you have access to their loan products which can help you with your financial needs. They offer salary loans, personal loans, housing loans, auto loans and even business loans to name a few. The interest rates, in my opinion, are actually very competitive.

Deposit Products
More importantly, members of AFPSLAI can avail of their deposit products. Particularly, the Capital Contribution Account (CCA) which is a high-dividend earning “savings” account; the Pension Account for pensioner remittances, and the simple Savings Deposit Account, which gives a tax-free 3% per annum interest (better than any commercial bank I know).

Other Products
AFPSLAI also has other products and services such as ALMS, which is similar to life insurance; AMD, an automated investment service; APEX, for remittance of pensions; and SMS, a text-message service. They also offer college scholarships.


AFPSLAI as an Investment

Members of AFPSLAI are very lucky because they have access to one of the best investment products I’ve seen, the Capital Contribution Account (CCA), which according to reports for the past 10 years, have produced an incredible, average tax-free dividend of at least 18% per year. That’s as good as the stock market!

CCA regulations limit a member’s contribution to only P30,000 per quarter. However, one can be exempt from the P30,000 per quarter limit if the member enrolls in the Automatic Monthly Deduction (AMD) service.

Moreover, there is a maximum total contribution of P3M for Regular Members and only P1M for Associate Members. So if your contribution reaches that limit, you can no longer place money in CCA.

So assuming you have P3M placed in CCA, that’s P45,000 per month dividend for you – not bad, right? If I am qualified to be a member, I’d definitely place some of my money here.

Is it safe to put money in AFPSLAI?

I took time to read their 2012 Annual Report and found their finances to be stable.

Personally, the biggest risk with AFPSLAI is poor investment decisions and mismanagement. The last reported news related to this happened in 2006, where they lost money in their investments with Centennial Savings Bank and Centennial Financing Corp. (Source) But I think AFPSLAI has already recovered from that loss and members have not been severely affected by it during that time.

Short to say, I believe your money is safe in AFPSLAI.

I have good faith with them and believe that it is stable and currently managed by competent people. But for risk-averse individuals, I’d advise not to put all your money in there.

So there you have it, a primer on the Armed Forces and Police Savings & Loan Association, Inc. or AFPSLAI. To learn more about them, you can visit their website at

If you are a member of AFPSLAI, or know somebody who is, then I hope you can give below as a comment your experience with them. Thank you.

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All photos taken from the AFPSLAI 2012 Annual Report.

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38 Responses to “Information About AFPSLAI”

  1. Beth says:

    Good to hear this from you Fitz since we have an investment in Afpslai,

  2. Beth says:

    Hi Fitz,
    Just wanna ask that the PDIC insurance if for both your savings account and capital contribution (CAPCON) account? Thank you.

  3. Cher Cabula says:

    Hi Fitz! My dad used to have some savings in AFPSLAI and yes I agree that it’s safe to have it invested there. I especially would like to comment that in case of emergencies and you need to withdraw your money immediately, you don’t have to go through a very difficult process. A representative will just check if your request to withdraw (esp for huge amounts) is valid and they will release the money without any red tape whatsoever.

  4. edmund lao says:

    AFPSLAI is like a mutual fund companuy, am I not right in my understanding?

  5. Herbs says:

    My husband and me are AFPSLAI member for more than 20 yrs now. We started when there was no maximum limit contribution for member and the interest rate then was 20% . It was unbelievable knowing that the rest of the bank interest rates was only 5-10 % for time deposit account .
    And you’re right. Now there is a 3m maximum limit for active member and 1m only for associate member with an interest rate of 18%. And you’re also right- it is comparable to stock market – even better esp now that the stock market is in its bearish period.
    Withdrawing money is easy just like in the bank even up to million pesos.
    Their saving account has an interest rate of 3% – much higher than any bank around.
    I hope it is there to stay.

  6. Herbs says:

    My husband and me are AFPSLAI member for more than 20 yrs now. We started when there was no maximum limit contribution for member and the interest rate then was 20% . It was unbelievable knowing that the rest of the bank interest rates was only 5-10 % for time deposit account .
    And you’re right. Now there is a 3m maximum limit for active member and 1m only for associate member with an interest rate of 18%. And you’re also right- it is comparable to stock market – even better esp now that the stock market is in its bearish period.
    Withdrawing money is easy just like in the bank even up to million pesos.
    Their saving account has an interest rate of 3% – much higher than any bank around.
    I hope it is there to stay.

  7. Bryan says:

    Hi Fitz,

    Thanks for this article. I remember 10 year ago during my high school years my father opened an AFPSLAI account for me and my brother. Those where the times I get more than 4% dividend interest every quarter, that’s about 20% per year. AFPSLAI is my only investment vehicle back then, until I attended IMG-Wealth Academy in Cebu and decided to diversify.

  8. Hi Fitz,

    I’m an Army officer and I’m glad I invested in AFPSLAI. The dividend is doing great as usual. Unfortunately, I invested late in that military financial institution since there’s already a 10k limit every month. For automatic deductions of active personnel, it can be 20+k for one month. Those people who invested early are so lucky! Actually, I made a blog about this so that soldiers will understand that this is a good investment.

    You can check my site: A Wise Filipino Soldier

    Thanks for sharing! ;-)

  9. joel says:

    Sir base on AFPSLAI website, deposits are not insured in PDIC.. i red it on their FAQ page. thanks..

  10. Fitz says:

    Hi Joel, I’ve edited the article for now and I’ll look more into that, thanks.

    My basis for saying that it is covered is in the PDIC website:

  11. newbie investor says:

    Hi Fitz,

    I am glad you take time to post this article on AFPSLAI.
    Indeed, it is true and I am a member of this years back.
    I am happy with them because of the High Interest and
    it encourage me more to save with AFPSLAI. But now, I want
    to look for a trusted person who is a member to deposit in
    their account since the AFPSLAI is having limit on placement.

    Keep writing! :)

  12. newbie investor says:

    Hi Fitz,

    AFPSLAI is a good investment vehicle.
    I am experiencing it by myself.
    It is so inspiring to see the figures of your passbook
    digits becoming double.

    Good Article and Reliable.

    Keep writing! :)

  13. newbie investor says:

    Hi Fitz,

    If you are not yet married,
    marry a police woman then you will be in..

    Kidding here but it’s true…

    or anyone there who don’t have chance to be a member,
    then look for a partner in police, army, air force.
    And make your partner become a regular member and
    you can be an associate member.

    Just saying… ;)

  14. Ariane says:

    Question. What if the you are a child of a retired soldier and would want to apply as an associate member but your parent is not a member? Is it still possible to apply as a member?

  15. newbie investor says:

    Answer to Ariane : If your parents is not yet a member of Afpslai then you will not qualify as an Associate Member. You may ask your father to be a regular member first then you can apply as an associate member.

  16. BumberongSnappy-_- says:

    hi fitz.. compound interest ba gamit nla sa CCA?tnx

  17. deuts says:

    e ung AFPSLAI website FAQ na nga may sabi na hindi sya insured by PDIC, ayaw mo pa maniwala? hehe peace!

  18. kronoz says:

    Compounded sya per quarter. So an 18% annual dividend is actually 4.5% compounded per quarter.
    Last quarter, it’s only 15.5% p.a. though.
    I plan to keep depositing around max limit less dividend until 2017. Ill just then wait until I start receiving quarterly excess dividend by around 2020 (hopefully AFPSLAI is still stable by then).

  19. maxx says:

    My Dad is a retired AFP. All of us (4 children) got a savings account from AFPSLAI, including my Mom. I can really say that the dividend is really good. It’s really safe to keep your money with them. If you have 1M it will have a divident of 45,000 per quarter (every 3 months). So guys, if you are entitled to open a savings account from them, go ahead and grab that! :))

  20. Dante sanga says:

    An officer not on active duty can become a regular member if has completed three years of active duty. On th e other hand an inactive reserve officer with less than three years active duty cannot qualify as an associate member while cadets of pma,pnpa officers candiidate school etc are. There seems to have a discrimination on reserve officers with less than three years of servive to qualify as member while in fact reservist is the backbone of the AFP. Nakakalungkot kadete puede official sorry ka na lang di ka puedeng member, less than three years ka kasi. Samatalang yong iactive officer is usually participany sa actvities ng home defense unit sa kanilang lugar until retirement age. Sana iamend itong rule na ito para ang reserve offiver ay makasali.

  21. judy araque says:


  22. judy araque says:


  23. Chan says:

    Hi, Fitz! I understand that a PVAO Pensioner is qualified to be an associate member. However, may I ask if this covers a surviving spouse of the deceased PVAO Pensioner? She, herself is a PVAO Pensioner though, since her husband is now deceased.

  24. spo4 dante capa (ret) says:

    is there a specific date for the widrawal of interest only and that the capital amount will not be affected?

  25. Ray says:

    Hi everyone my father is a soldier and a regular member of afpslai and my mother is a associate member of afpslai.will i be a associate too?im their eldest son but the afpslai worker said to my father that their children will never be a member becausr their is a new rule is that true?

  26. Hi good afternoon po AFPSLAI Im PO2 Madelyn Mag-usara Lanticse of Mis Occ PPO last february 01, 2013 ng renew po ako with monthly amortization of (MA) 6,556.00 with 60 months term may mga error kc ang payslip number ng deduction dapat din August 2014 ay 43 months of term na sana .eh kaso sa payslip na print ko sa month of August 2014 ay number 60 months of term .. pls paki verify and adjust my records in your good office thank you and God bless poh..

  27. Glo says:

    hi po..member po ung father ko ng AFPSLAI at retired na sundalo na po sia.Gusto ko po sana maging associate member pero isa sa mga requirement po ata is dapat may work or any kind of business.Sa ngayon po kasi tumigil muna ako sa work at ang source of income ko po is ung sustento ng asawa ko na nasa abroad.Pwed pa rin po ba ako maging associate member? Maraming salamat po sa mga sagot ninyo

  28. Tonette says:

    I was working at a government agency located at Camp Aguinaldo In the early 80’s. At that time even civilian employess were welcome to sign up for membership at AFPSLAI. There was no limit in Capital Contribution and the dividends then ranged from 20 – 21% p.a., compounded and distributed every six months. I was a member since 1983 and even my husband was able to open an account just before AFPSLAI implemented stricter policies.

    My mom who is a PVAO pensioner is also a member of AFPSLAI.

    Compared sa stocks, walang dapat i-monitor. Wait na lang sa quarterly dividend distribution. If you need money, you can apply for a back-to-back loan up to 90% of your capital contribution with your passbook as the only collateral. The loan is released within the day or within hours, very useful pag may business.

    Saludo ang family ko sa AFPSLAI. ๐Ÿ‘๐Ÿ‘๐Ÿ‘

  29. LT. Abe Lopez Marchan PN (RES.) says:


  30. Aldwin Martin Bayta says:

    Hi Sir! Ang mother ko po ay PVAO veterans. Kung magmember ba siya ng AFPSLAI peede rin ba akong maging associate member? Thanks sa sagot.

  31. levi says:

    AFPSLAI is not covered by PDIC.

    Q: Is my deposit covered by Philippine Deposit Insurance Corporation (PDIC)?
    A: No, AFPSLAI is non-bank financial institution. As such, its deposits are not covered by Philippine Deposit Insurance Corporation (PDIC).

    It is a good form of investment though. Depends on your risk tolerance.

  32. Rman says:

    It’s comforting to know that AFPSLAI still in a good position….been a member for almost 10years na and it is nice to have an alternative investment like this.

    Can you also pls. have a look and review about AMWSLAI?….am worried about them due to Napoles scam issue. How’s their financial standing as of the moment?

  33. ramir gaspar says:

    associate member,- good day mga sir/mam tnong ko lng about CCA…pd ba ako sa amd(automatic monthly deduction) kht associate member lng ako at ndi regular member..tnx sa ssagot 09192258019

  34. dominador c. beler jr. says:

    sir wala po kaming passbook ng tatay namin nasa 12 years siya sa sa serbisyo sa airforce deceased na po siya noon 1996..nasa 1968 siya pumasok dito SSG po naging rango po niya.paano namin malalaman kung may makukuha kami at kung magkano kasi di pa po kami nakakapag file dito.pls response no. 0939799573

  35. karl says:

    Hi! Sna me amslai review din, thanks!

  36. major camid a. mangigin 0-112508 ret afp says:


  37. major camid a. mangigin 0-112508 ret afp says:


  38. Angela Coloma - De Guzman says:

    Hi, Fitz!
    A little update on AFPSLAI for its members. I have just been there last week kasi and lakas-tyamba ako sa bagong sistema:
    Starting Q1 2015, interest earned in our Capital Contribution Account (CCA or Green Passbook) can no longer be rolled over into the account. A new account, EDA: Expected Dividend Account, must be opened for the automatic transfer of the quarterly interest from the CCA. This is not an interest-bearing account, and requires no minimum maintaining balance. One can then opt to have an automatic transfer of their dividends to their nominated Savings Account (SA-02 or Red Passbook) or non-AFPSLAI accounts with major banks, e.g., BPI, BDO, Metrobank PNB, RCBC and UCPB.
    For members who will not be able to apply for EDA before October 2015, they will have to wait for the annual dividend declaration.
    So for all members out there, punta na ng AFPSLAI sa lalong madaling panahon. I suggest sa Camp Aguinaldo branch na sila pumunta kasi centralized ang printing ng EDA passbooks sa Head Office. Thus, it takes at least 3 days for the application for EDA to be complete pag sa ibang branch sila nag-apply. :)

    “As mandated by the Bangko Sentral ng Pilipinas (BSP), there shall no longer be an automatic rollover of Expected Dividend Advances (EDAs) to the Capital Contribution Account (CCA) effective 1st quarter 2015. Quarterly EDA shall be posted to a Disbursement Account starting April 27, 2015.
    Options are available to members such as the release of EDA in the form of cheque, and transfer of EDA from Disbursement Account to their Savings Account (SD-02)/bank accounts.”

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