GSIS housing program reaches 5K members

State-run Government Service Insurance System (GSIS) has issued close to P6 billion in loans to members in need of financial assistance to pay for their housing needs.

- By ELIJAH FELICE ROSALES

GSIS yesterday reported that its new housing loan program called Pabahay sa Bagong Bayaning Manggagawa has reached more than 5,000 members to date.

In total, the insurer has issued P5.64 billion in loans to borrowers through the lease with option buy (LWOB) and the housing accounts restructuring and condonation program (HARCP).

The LWOB is a credit facility that government workers can avail themselves to own a house within reasonable means. A total of 3,360 members accessed the LWOB, with the properties valued at P2.84 billion, in 2024.