I 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!