All The WOW News in Cordillera

Tuesday, February 6, 2018

Cordillera OFWs to get better services from OWWA. OFWs can take non-collateral loan up to P350,000

OWWA Administrator Han Cacdac talks during a consultation meeting of Federation of OFWs in CAR. Photo Courtesy: OWWA Baguio.
Cordillera - Overseas Filipino Workers (OFWs) in Cordillera will soon experience better services from the Overseas Welfare Administration (OWWA) after a memorandum of agreement (MOA) was signed on  Monday by both Baguio City/Benguet province officials and OWWA officials. 

No less than OWWA Administrator Hans Cacdac  and Baguio City Mayor Mauricio Domogan lead the signing at the Baguio Country Club together with Local Government officials of Baguio and Benguet. 

The MOA aims to help OFWs and their families to have an easy access to government services when they need. 

Part of the MOA is the creation of a help desk that will serve as link to other agencies of the government like the Philippine Overseas Employment Administration (POEA) and the Department of Labor and Employment (DOLE).

Cacdac explained that the help desk will also serve as a venue for OFWs and their families to get help and immediate assistance in the different localities. 

He also mentioned the OF bank that was just launched on Jan. 18, a campaign promise of the president to aid OFWs who needs financial assistance like loans and livelihood funding. 

OFWs can take advantage of the non-collateral loans of up to Php350,000 at only 6% annual interest rate and OFWs can borrow capital to start a business of other projects.

Just like any other banks, the OF bank provides competitive deposit products such as Peso ATM Savings, time deposit and checking accounts. It also include a special Savings Plans designed for OFWs to encourage and inspire them to develop the habit of saving money. 

Soon the bank will be used by OFWs as a center to remit money at the cheapest, fastest, secure, and convenient mobile credit-to-account-system that is better than other remittance centers in the country.

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