History

May 11, 1962

FABSLAI was founded by 230 members with P2,000.00 initial capital.

Jul 23, 1965

FABSLAI was registered to Securities and Exchange Commission (SEC).

Sep 1965

Certificate of Authority to operate as a Non-Stock SLA was granted by Central Bank of the Philippines.

Date Significant Event
Mar 1967 Inauguration of FABSLA Housing Project by former Pres. Ferdinand E. Marcos (Pilot project with BSP).
1972 Inauguration of FABSLA building (from 2nd floor of FAB Bowling Lanes) (Pilot project with BSP)
Feb 1973 FABSLA reached its first 1 MILLION mark in assets
Sept 1973 By-Laws were amended to include loans payable in two years and adoption of Mortgage Redemption Insurance (MRI ) for insurance of loan
Oct 17, 1973 Loans were insured by Insular Life Company, Ltd.
1973 FABSLA Newsbrief was published
Aug 23, 1974 Amendment of FABSLA By-Laws
1986 FABSLAI entered into a contract with Insular Life Company, Ltd. for the Level Coverage of loans in which the full amount of loan will be paid by the insurance company in case of borrower's death. (The loan balance will be paid to FABSLAI while the amount paid by the borrower will be given back to his/her beneficiary)
1991 FABSLAI was re-registered to Securities and Exchange Commission (SEC) for another twenty-five (25) years
1994 Computerization of FABSLAI system by programmer Mr. Bibian Militante