AMWSLAI in Deep Trouble Again

AMWSLAI LogoI heard a lot of Filipino soldiers complain about AMWSLAI products and services. Honestly, I didn’t have any interest in that military financial institution. Until one day, I became curious so I went to their office at Bayani Road, Taguig City near AFPSLAI and PAFCPIC offices. By the way, AMWSLAI stands for Air Materiel Wings Savings and Loans Association Incorporated. It was a former Philippine Air Force cooperative then later developed into a big savings and loan association. Now, they accepted applicants from other branch of service including Philippine Army and Navy.  They also included members of the Philippine National Police or PNP. There are more or less P14 Billion savings fund coming from the members of this financial institution.

My AMWSLAI Experience

When I went inside their office, the first thing I observed was that the employees were totally disorganized. It seemed that they don’t have a good operations management. Papers were scattered all over their desk. Totally Chaos! Only one personnel was tasked to entertain members and would-be members that time. It’s far from the services of AFPSLAI and PAFCPIC. I sat beside an Army Sergeant who was assigned somewhere in Northern Luzon. While waiting, I asked him if the services are great. As I’ve expected, he warned me not to avail for loan. He had a bad experience about it. He went there to pay the whole amount of his remaining loan balance. The interest is so high, he told me. He felt like he was being robbed the whole time his salary is being deducted. He looked so agitated. After that discussion, I waited for almost two hours. I became impatient! A woman approached me and asked me if I wanted to loan. My goodness! It was a loan fixer! She told me that she could help me avail loan fast. The Army Sergeant whispered to me that there will be a payment by not more than 10% of the principal loan amount to the fixer. Something was really fishy. Finally, I was called by one of the employees. I asked him if I could apply as a member of AMWSLAI and if I could open for an account for Capital Contribution. He told me that they don’t accept Capital Contributions anymore but I could avail for loans. What the heck! Anyway, he gave me the number of their office so that I could constantly check if they will be open for Capital Contribution applications. It was really frustrating. I didn’t stop there. I investigated some more.

Problems of AMWSLAI

I researched the whole day and I found out that there’s a leadership crisis happening in that military financial institution since 2004. There’s a serious friction between the group of Col. Ricardo Nolasco Jr. and retired Col. Luvin Manay. The group of Col. Ricardo Nolasco Jr. including Thaddeus Estalilla, Morado Mercado, Ismael Abad, Ricardo Perido, Angel Tapac, Antonio Gumba and Cesar Toledanes, were elected as new members of the Board of Trustees last January 18, 2008. Previously, the group of retired Col. Luvin Manay questioned the legality of the election. As a result, the Supreme Court released a decision to “holdover members until the elections and proclamation of winners in a valid, lawful and orderly elections.”

That’s the leadership tug-of-war happened within AMWSLAI.

To give you a brief background of the conflict, Col. Luvin Manay was the former president of AMWSLAI. He was questioned by the BSP regarding the P16 Million AMWSLAI funds deposited in his personal account. My goodness! Consequently, the BSP suspended him and his cohorts. That’s when the group of Col. Ricardo Nolasco Jr. entered the scene. They wanted to have a new leadership. While the former president was under suspension, they conducted election. Eventually, dispute was resolved. The group of Col Ricardo Nolasco Jr. have won the case in the Supreme Court.

New Controversy Involving AMWSLAI

Adding insult to injury, I’ve just read the latest news that AMWSLAI was once again put in the limelight. According to the PDAF Scam whistle-blower Benhur Luy, Janet-Lim Napoles has more than P500 Million deposited  in AMWSLAI which made it possible through the assistance of the President and Chairman of the Board, Col. Ricardo Nolasco Jr.

Napoles is not even a member of the AFP or PNP! What was her role in AMWSLAI? This must be further investigated. I believe members who invested a lot of hard-earned money were getting jittery now. One piece of advice, never invest in a company that doesn’t have good reputation. Scared as shit? You should be!

I remembered the employee who told me that the company won’t accept applications for capital contributions. Of course! There’s a lot of money coming from the likes of Janet-Lim Napoles! Never mind investing to this company!


About Ranger Perots

I'm a member of the Armed Forces of the Philippines.
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15 Responses to AMWSLAI in Deep Trouble Again

  1. Pingback: A Filipino Soldier’s Guide to Fight and Win Financial Battles | A WISE FILIPINO SOLDIER

  2. Pingback: Filipino Soldier from Saver to Investor | A WISE FILIPINO SOLDIER

  3. joe visaya says:

    any update sir regarding amwslai? parang walang website ang amwslai? any feedback is highly apreciated sir..I’m an ex member of AFP and still member of amwslai but residing abroad.

    • Hello Joe,

      Sadly, you’re right. There’s no existing AMWSLAI website so we could not really know the status of this military lending institution. I’ve heard from some of my upperclassmen that it is still under investigation. Anyway, I will do my best to get more information. I will post it so others will also be informed.

      Best Regards,


  4. Liza Cortez says:

    Hello Sir,
    I have a few question regarding AMWSLAI, and leaving this unanswered is constantly bugging me and my hubby. Our situation goes like this, my father-in-law is a retired member of the PNP who died last 2010 and transferred part of the loan payable to my mother-in-law. My mother-in-law was allowed by AMWSLAI to make new loan and since times were really hard, she did apply for a new loan. AMWSLAI keeps insisting that my hubby(the son) should sign as a guarantor and that he need not worry because it is just a mere formality. But the problem is, my mother-in-law died after a year or two, and this left my husband in the dark. He couldn’t sleep anymore because we do not know how to settle this, we are both trying to make ends meet and we don’t have much left to pay for the loan balance. Its been years now and I think no one from the family had time to secure a copy of her death certificate to the PNP where she receives half of my father-in-law’s pension. Sir, please, could you enlighten us on this matter? We need more information. I really hope you could help us on this. It’s too late for us to regret having loaned in this company, and I really really wish we didn’t have to. Thank you.

    • Hi Liza,

      I’m sorry to hear that. Well, the liability of your husband as guarantor cannot be avoided but if there is a pending case for the settlement of your mother-in-law’s estate, then AMWSLAI should participate in the said case as claimant so that they no longer need to pursue payment from your hubby as guarantor.

      Maybe it’s best to seek advice from a lawyer who can more effectively define or determine the scope of liability of your husband based on the terms of the contract.

      I hope this helps.



  5. Liza Cortez says:

    Thank you for that sound advice, sir. Merry Christmas and God bless.

      • Emmanuel Librero says:


        Good Day!

        I am a former military man in the Philippine Army but I left the service on 2007 and migrated in the US already with my wife. I was not a member of AMWSLAI and now I am wondering if I could still be a member of that institution?If yes?How? I am planning to enlist in the reservist and process my papers there.If ever I will become a reservist can I be a member of AMWSLAI?I need your reply Sir.Thank you very much.

  6. Mackey wara says:

    Do you know a soldier name master seargent jonathan abarca.he also undergo training last august and he was sent to maguindanao.

  7. Reply to Emmanuel

    You can be a member of AMWSLAI if you are a retiree in the AFP. You must be either in the active service or a retiree to be able to apply. Unfortunately, reservists are not qualified to become a member.

  8. buddy alcaras says:

    is marie grace tolentino-manay a legit employee of awmslai?

  9. violeta gacuma . aunt says:

    i am inguring the death claim of Survivor pensioner virggilia estologas, children death claim.
    resuirements were sent through cdo brance by lbc,
    pls notify us the status
    my cell number is 09284064972



  10. Keilz Lagota says:

    in the current situation, is it still advisable to invest in amwslai? my father just retired two months ago and he plans to invest some of his money there, but after reading your article, i’m afraid of what could happen to his hard-earned money.

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