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AMWSLAI is Back to Normal

“(T)he BSP wanted to know why P16 million of what are AMWSLAI funds were deposited in the personal account of President Manay.”

by Ducky Paredes

The esoterically named Air Materiel Wing Savings and Loan Association, Inc. (AMWSLAI) is a P14-billion that services the needs of 230,000retired and active soldiers and policemen. The cooperative lends needed funds to its members and raises its funds from deposits of its own members.

It is great being a member of the AMWSLAI. It is easy to get a loan and – for deposits – it has one of the highest rates anywhere. The one qualifier to get the best deal on deposits and to have access to an easy loan facility is that one has to be a member of the AMWSLAI and, to be a member, one has to have served or still serves as a policeman or a soldier.

Loans are guaranteed because the deduction for the payment is deducted by the paymaster for those still in the active service; retirees’ pensions are also automatically dunned whatever payments are due AMWSLAI. This is the reason why it can offer the best interest rates available anywhere. In that sense, it is a real service to its membership.

Trouble started in the cooperative in 2004 when Col. Luvin Manay was President. An audit by the Bangko Sentral found irregularities. For instance, the BSP wanted to know why P16 million of what are AMWSLAI funds were deposited in the personal account of President Manay. These were from checks issued by insurance companies payable to AMWSLAI as service fees  or premium refund that were credited to capital contribution or savings deposit accounts of Manay and other trustees. The money intended for the AMWSLAI was being credited to their personal accounts!

There were also P158 million in unpaid loans that were borrowed by Manay and his fellow directors. Thus, they – Manay, Antonio Mantuato, Jose Elaurza, Johnson Ocfemia, Thaddeaus Estalilla and Anselmo Geronimo – were suspended by the BSP as trustees of the AMWSLAI.

Other trustees – Hector Senosa, Ismael Abad and Tereso Pelias – were no longer suspended because they resigned.

These trustees were ordered to repay their loans or return the money of AMWSLAI and explain why they ought not to be permanently disqualified as trustees.

Two of them – Estalilla and Abad – were able to comply with the BSP directives. The rest did not.

When the new elections for trustees were scheduled in 2005, of course, the Manay group went to court to try to prevent it. They were not disqualified, except for the two who complied with the BSP directives.

On October 14, 2005, however, the elections pushed through. Elected were Ricardo Nolasco, Jr., Estalilla, Abad, Morado Mercado, Ricardo Perido, Cedric Reyes, Cesar Toledanes, Antonio Gumba, Ricardo Cacabelos, Ruben Estepa, Domingo Dimapilis, Jr. and Angel Tapac,

In the meantime, Manay’s group won at the RTC and the Court of Appeals. Nolasco went to the Supreme Court, which gave them a status quo ante order. In October 2007, the SC directed that a mixed group – Nolasco, Manay, Estalilla, Mercado, Geronimo, Elauza, Ocfemia and Mantuano would serve as holdover directors until an election could be held.

Of course, Manay and his group could not get back their posts since they were still under preventive suspension by the BSP.

To speed things up, an election was scheduled for January 18, 2008. Everyone was informed of the election – even Manay and his group. They chose not to participate. In reality, they were disqualified by their preventive suspension by the BSP and the pending questions about the way they managed AMWSLAI that they have been unable to explain to the BSP.

Nolasco, Mercado, Estalilla, Abad, Perido, Tapac, Gumba and Toledanes were elected. Together with Cacabelos, Mendoza and Reyes who were elected in 2007, this is the present 11-man board.

Manay decided not to go to the RTC or he CA but went directly to the SC asking that the 2008 election be annulled.

Finally, the SC’s Third Division has effectively validated the 2008 elections; thus putting the matter to rest and the AMWSLAI back into normalcy and stability. The SC noted Manay’s motion to nullify the 2008 elections but did not act on it. In the language of the Supreme Court, this means that while the SC accepted the pleading, it chose not to act on it, meaning that it saw no need to do anything for whatever reason. Thus, since the SC would not act on the petition, it was as good as having been dismissed outright.

Nolasco serves as Chairman and President. He says: “AMWSLAI is in normal operation and the incumbent members of the board of trustees are determined to protect the interests of its members who have invested their hard-earned money in the savings and loan association.”

* * *

The Federation of Philippine Amateur Senior Golfers, Inc. (FPASGI) has two types of tournaments – six under the San Miguel Seniors Tour where only FPASGI members can play – and six more simply fun tournaments where the stress is more on the camaraderie and in the pure joy of playing the game.

On April 30, a fun tournament will be held at Northwoods Golf and Country Club in Bulacan. Tee-off is from six to nine in the morning. Members can invite other senior players who may not be members of the FPASGI. We would also like to meet the seniors of Northwoods so that we can drum up membership support for the FPASGI Northwoods Chapter.

Tickets are at P1,700, which includes the green fee, caddy fee, use of a golf cart (shared with another player) a late lunch and a few raffle prizes. Give-away will be a personalized bag tag. FPASGI members can bring along their senior friends to play in this friendship tournament.

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hvp 04.13.08)

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  1. al KUWAIT wrote:

    How can i become a member in AMWSLAI? I am an OFW and want to be a member.

    Thank you very much!

    Thursday, January 22, 2009 at 4:20 pm | Permalink

    I had stopped my membership at AMWSLAI since March 2008 but until now I am still deducted for the membership monthly. How can I stop that deduction considering that I am no longer a member with AMSLAI.


    Wednesday, May 6, 2009 at 10:06 am | Permalink

    TANUNG KO LANG PO KUNG MERUN BA KAYONG KONEKSYON SA PRIVATE COMPANIES..afslai member po kasi papa ko then MAY NAgpADALA samin na sulat galing sa isang babae o fixer at nghihikayat na lumipat ang papa ko sa babayaran ng amslai ang natitirang loan balance ng papa ko sa afslai…totoo po ba yun, my problema po kasi kami sa pera e interesado p0o ang papa ko

    Tuesday, December 29, 2009 at 6:40 pm | Permalink


    Wednesday, April 28, 2010 at 4:27 pm | Permalink
  5. gil bryan m. chiang PHILIPPINES wrote:

    pwede po ba ako mag apply sa palawan finance grad po ako… this 2010 lang po am a senator of palawan state university,,,, tnx po..

    Thursday, May 13, 2010 at 11:47 am | Permalink
  6. lani lyn wrote:

    what is the assurance if i make my savings deposit in amslai?

    Friday, May 21, 2010 at 6:51 am | Permalink
  7. danishia wrote:

    ask ko lng po if anong mangyayari sa taong di na mabayaran ang ini loan let’s say 6 yrs. na?kasi yung frend ko problemado dahil ginamit name nya nung umutang, eh tinakbuhan na po xa.i want to help too, but first i’d like to have some infos.thanks & more power! -danishia l.

    Saturday, June 12, 2010 at 3:32 am | Permalink
  8. clarissa PHILIPPINES wrote:

    Is it safe to invest with AMWSLAI? In case something goes wrong, is there an agency or bureau or gov’t institution similar to the PDIC where we can run after AMWSLAI?

    Hope you can answer my queries. Thank you.

    Tuesday, June 22, 2010 at 11:41 am | Permalink
  9. loanconsultant wrote:


    Wednesday, July 14, 2010 at 2:04 pm | Permalink
  10. ruben warde wrote:

    sir, grabeng problema ko dahil sa past due loan ko sa AMWSLAI..gusto ko po sanang maayos ito kc grabeng lomoral na talaga ako…ala na ako nasasahod to think na my 6years pang natitira,,,2years 6mos na nbyaran ko..sir please tulungan nyo po ako…sna meron pa ung AMNESTY PROGRAM nyo…

    Tuesday, July 20, 2010 at 9:36 pm | Permalink
  11. Rosanna P Libusada PHILIPPINES wrote:

    Gud am,i just want to ask if pwd ako pa member at buy out sa amwslai.thanks

    Wednesday, September 8, 2010 at 11:19 am | Permalink
  12. ruben galura wrote:

    dear ducky,
    been looking for address of local chapters of fpasgi in your columns- can’t find one..except intramuros group. pls.publish some prefers south m. mla.

    Tuesday, October 12, 2010 at 9:12 am | Permalink
  13. Loan Representative PHILIPPINES wrote:

    willing to help assistance. para sa mga may existing loan at kahit po wala AMWSLAI is serving assistance. eto po ang num q 09217793602. wag po kayo mag alala AMWSLAI will give you what you deserve for your long years and hardwork for the country.

    Tuesday, November 16, 2010 at 11:23 am | Permalink
  14. benjamin r flores PHILIPPINES wrote:

    one of the reasons why these savings and loan institutions exist is to help the members of the afp and pnp personnel to ease their financial problem, but sometimes nagiging pabigat din sila sa mga sundalo sinasamantala nila kagipitan ng mga sundalo, I have a request letter to surrender my house and lot kasama lahat pati binayad ko since 1996 up to present ma stop lang deduction ko sa sweldo ko di ko maintindihan kung d maaprove dpb sapat yun sana mkarating ito sa presidente ng amwslai

    Wednesday, December 15, 2010 at 8:12 am | Permalink
  15. i would like to avail a loan in your institution. how can i a avail such loan.

    Sunday, December 19, 2010 at 2:57 pm | Permalink
  16. Elgie E Paradeza PHILIPPINES wrote:

    i am Elgie Edquilang Paradeza from Brgy Bani Masinloc Zambales PNP member and member of amwslai, i avail a loans last december 2010,. I Buy Out My Loan in PSMBFI so I can add it in my loan in amwslai,when i avail said loan, your personel said that it must be seen first in payslip the amount that i buy out in psmbfi before i can avail the loan, but I was advised by one of your employee from Olongapo branch (Cathy Manabat) that there is person that can fix my problem she said, it was joven. forgot his last name but he is the one help me to process my loan becauce he need to undertake the said loan to make it approved by your office,.after the the loan was released the joven was asking a 13,000.00 pesos pay for the undertaking he said,, which was later i was informed by some of your employee from Olongapo branch,unauthorized by your office,. in this matter,. Ive felt i was cheated by your employee ( Joven ). I make this message becuase that person Joven wont help your office to gain more members if he continue on doing this thing,, I myself after my laons with your institution will withdraw my membership because of your Personel (Joven) and some others will follow in this case will continue to happen in your service…

    Sunday, February 27, 2011 at 3:35 am | Permalink
  17. itanong ko lang po sana ang tungkol sa binifits sa aking kapatid na namatay na na ambush noong last 2010 nagpasa ako ng requirments nitong january ilang buwan pa ba namin makuha ang pera kasi ho kailangan namin may importanti ho kami paggagamitan
    gaano ho ba katagal
    sana po malaman ko ang sagot ninyo dito po ito sa amwslaisa iloilo dito po ako nagpasa ng requirments

    Wednesday, May 4, 2011 at 2:32 pm | Permalink
  18. aldeger wrote:

    is it true that a corruption charge is filed against chairman/president nolasco? and that he uses the funds of amwslai to expand his hannah’s beach resort?

    Wednesday, July 13, 2011 at 11:12 am | Permalink
  19. What happened to the P16 million AMSLAI funds that were deposited in the personal account of the then President Manay and the P158 million in unpaid loans that were borrowed by Manay and his fellow directors? Were they all settled? Was there any criminal case filed in court against these people? I asked these questions because it’s unclear on the above statement and/or report. Thanks.

    Monday, January 2, 2012 at 3:53 pm | Permalink
  20. Emmanuel P. Librero UNITED STATES wrote:

    Meron po bang AMWSLAI branch sa Davao city?

    Monday, March 5, 2012 at 2:38 pm | Permalink
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    Monday, April 7, 2014 at 10:02 am | Permalink

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