Marilene C. Acosta has been appointed acting Chief Executive Officer of Pag-IBIG Fund, succeeding Acmad Rizaldy P. Moti as head of the country’s leading home financing agency, according to a letter released by Malacañang on Monday.
Acosta, who hails from Narvacan, Ilocos Sur, has been with Pag-IBIG Fund since 1981.
A Certified Public Accountant (CPA) and Career Executive Service Officer (CESO) V, she rose from the ranks since starting her career as an accounting clerk in Pag-IBIG Fund’s Baguio Regional Office.
During her tenure as Pag-IBIG Fund Deputy CEO for Home Lending from March 2017 to September 2022, the agency released consistent record-highs in housing loans, which then enabled a record-high number of members to acquire their own homes.
“I am grateful for the trust that the President Ferdinand Marcos, Jr. and our Chairperson, DHSUD (Department of Human Settlements and Urban Development) Secretary Jose Rizalino Acuzar have given me on being appointed to this post,” she said.
Acosta also thanked Moti and fellow Pag-IBIG employees for their support, as well as the Organization of Socialized and Economic Housing Developers in the Philippines (OSHDP), Inc. and the Subdivision and Housing Developers Association (SHDA), Inc. for their endorsements.
“I assure all of them, as well as our members, partner-developers, partner-employers and stakeholders, that we at Pag-IBIG Fund shall remain committed in providing them responsive and excellent service. My more than 40 years of public service in Pag-IBIG Fund has prepared me well for this post, and I will put to best use all that I have learned during the past four decades in ensuring that we continue the fulfillment of our mandates and in providing Tapat na Serbisyo, Mula sa Puso,” Acosta said.
Moti, meanwhile, hailed Acosta’s appointment, saying this would ensure continuity in the agency’s directions towards sustaining and building on the many gains it has accomplished over the recent years.
“CEO Acosta’s leadership, excellence, integrity, and grit are among the key factors that have enabled Pag-IBIG Fund to accomplish numerous record-highs and milestones, particularly in the home financing front. Her appointment shall allow the continuity and sustainability of Pag-IBIG Fund’s efforts to uplift the lives of all Filipino workers. I truly wish her and Pag-IBIG all the best,” Moti said.
Moti leaves Pag-IBIG Fund in its strongest-ever state, posting significant increases in key metrics from 2016 – the year prior to assuming his post as CEO.
As of August 2022, the agency has PHP795.93 billion in total assets, an 81 percent increase from PHP439.30 billion as of yearend 2016; a PHP100.8 billion single-year home loan release in 2021, a 76 percent increase from the annual home loan takeout of PHP57.3 billion six years ago; PHP25.95 billion voluntarily saved by members in MP2 Savings in 2021, a 3,065 percent increase from the PHP0.82 billion saved in 2016; investible funds amounting to PHP92.56 billion, a 49 percent increase from PHP62.15 billion in 2016; and, an annual net income of more than PHP30 billion for five consecutive years since 2017. (PNA)