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Financial Institutions
Financing Programs
Several banks and institutions provide direct and
indirect lending to the investors of Zamboanga del Sur. Different
portfolios are offered for short, medium and long-term loans.
Quedancor Corporation is a government financing institution with
main office located at Pagadian City covering not only province
of Zamboanga del Sur but including other provinces in Region IX.
This offers individual and group loans for livelihood or income
generating projects.
Insurance Companies
There are about 39 private insurance companies
in the Province. Most of these are located and having operations
at Pagadian City. Some have branches in the fast growing municipalities
like Aurora, Margosatubig and Molave.
There are three (3) government initiated insurance
offices having branch office located in Pagadian. These are the
Government Insurance System (GSIS), Social Security System (SSS)
and Pag-IBIG. These offices covers the provinces of Zamboanga del
Sur and Zamboanga Sibugay.
Permanent government employees are mandatory members
of GSIS while workers in the private establishments are also required
to become members of SSS. SSS members are not only the private employees,
but also the self employed and the voluntary government employees.
The government and private employees have mandatory counterpart
contributions from their employees. Programs and services offered
are salary and policy loans, housing loans, retirement and disability,
and death benefits.
The Pag-IBIG office address the country's basic
concerns on generations of saving and provision of shelter for the
workers. All SSS and GSIS membership earning at least P4,000 a month
are mandated to register with Pag-IBIG. Employees are required to
provide counterpart contributions to their qualified employees.
Employees earning less than P4,000 have the option to register on
voluntary basis. Membership is also open to Overseas Filipino Workers
(OFWs), resident immigrants and naturalized citizens under the Pag-IBIG
Overseas Program (POP). Non-earning spouses may register as Pag-IBIG
members with the consent of their earning spouses.
Pag-IBIG offers provident/savings benefit, short
terms loan or multi-purpose loan and housing loan benefit. Other
services offered to members is the minimal amount for death/burial
assistance.
Pawnshops
There are 24 pawnshops in the Province. These are
located in the municipality of Molave, and the City of Pagadian.
Among these locations, Pagadian City has the most number with 13
companies in full operations. A number of Lhuillier pawnshops are
found in Pagadian and in the municipality of Molave. This pawnshop
is operating in different cities and growing municipalities nationwide.
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