Armed Forces and Police Savings & Loan Association, Inc.
Philippine banking corporation / From Wikipedia, the free encyclopedia
The Armed Forces and Police Savings & Loan Association, Inc. (AFPSLAI) is a banking corporation in the Philippines associated with the Philippine military and police.
As of 2016, it had 69 billion Philippine pesos in assets,[1] which are exempt from taxes in the Philippines.[2] As of 2017, there are 21 branches within the Philippines along with 50 extension offices. There are about 500,000 AFPSLAI members.[3] Any changes in its bylaws are required to be approved by the Bangko Sentral ng Pilipinas.[4]
The Savings and Loan has a reputation for offering tax-free, high yield dividend products to its members which are not insured by the PDIC. Quarterly contributions to the higher yielding investments are capped.[5]