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An annual ceremony known as the Outstanding BSP Stakeholders Appreciation Ceremony honors the significant contributions made by financial industry stakeholders. Financial institutions who have exhibited outstanding support for the BSP’s mandates—which include price stability, financial stability, and secure and effective payment and settlement systems—are the recipients of the awards. In order to guarantee that more individuals have access to financial services, the ceremony also recognizes BSP’s leading financial inclusion advocacy.

“We are humbled and honored to receive this recognition,” said Clayton Lee, Executive President and Treasurer of Sterling Bank of Asia. “This award affirms our unwavering commitment and relentless efforts to support the mandates of BSP, ” Lee added.

“We at Sterling Bank of Asia remain dedicated to providing top-notch service to our customers and upholding our support to BSP mandates,” said Cecilio Paul San Pedro, President and CEO of Sterling Bank of Asia.

For more information, visit https://www.sterlingbankasia.com/.

Credit is a useful instrument for assisting people in reaching their financial objectives. Those with credit access can make purchases today, on the basis of an agreement to pay for products and services later.

But it’s crucial to understand the difference between “bad” credit—which is unaffordable—and responsible credit, or “good” credit.

The difference between good and bad credit

Whether it’s used for purchases that improve one’s quality of life, to handle unexpected bills, or to take advantage of certain perks such as rewards points or special discounts, good credit is credit that a borrower can affordably repay.   

As credit is a tool, there are cases where tools can be misused. Credit becomes bad credit when you use it to take on debt you can’t afford to repay. The longer you go without paying, the more likely you could run into fees, damage your credit score, see interest rise, and possibly face legal issues. By saddling yourself with the responsibility to take care of unaffordable outstanding debts, you run the risk of closing yourself off from better economic opportunities that credit used responsibly can unlock.  

The impact of bad credit  

The repercussions of taking on bad credit can be seen as a possible contributing factor to the negative stigma surrounding credit in the Philippines. In the country, the word credit is synonymous with the Tagalog word “utang” which carries notions of bad debt and financial irresponsibility.

The recent TransUnion Philippines Credit Perception Index study highlighted how negative stigma has shaped how Filipinos see credit. Findings showed that 58% of Filipinos believe that users of credit products tend to overspend while 55% do not want to be indebted.

As a result, in lieu of turning to formal financial institutions, there is a high reliance among Filipinos on family, friends, and other informal sources of borrowing. These sources include unregulated “5-6” moneylenders who issue small loans with often high interest charges over an agreed period, and “sangla-ATM” schemers who require physical ATM cards and a person’s personal identification numbers (PIN) as collateral for loans. Relying on these measures often puts borrowers at huge disadvantages that make it difficult for them to break free from their debts.

The importance of championing responsible credit use

While much work remains to be done to fully dispel the negative stigma surrounding credit in the country, more Filipinos are seeing the opportunities that come from having access to credit. Findings from the Q3 2023 TransUnion Philippines Consumer Pulse Study showed that 62% of Filipinos agreed that credit can help them access new opportunities that can lead to a better quality of life (i.e. buying a house, starting a business, financing my education, buying a car) – an increase of four percentage points from findings in Q2 2023.

Additional results from the study found that 72% of Filipinos agree that credit is widely available and easy to apply for as long as good financial management is demonstrated, an increase of four percentage points from the previous quarter. Asked whether they were comfortable owning credit accounts such as loans and credit cards, 41% of Filipinos expressed being comfortable, an increase of six percentage points from Q2 2023.

With perceptions changing and with more Filipinos growing accustomed to the ownership of credit products, the formal financial sector must continue to work together on educating Filipinos on responsible credit use and how it can pave the way towards better financial inclusion in the country.

To help promote responsible credit use, TransUnion Philippines’ credit reporting solutions help people understand and improve their credit status. Checking your credit report can help consumers stay informed of factors affecting their credit score and can help them take action to improve it. This can help people act to improve their credit standing faster.  

Other data, including telco data, is a useful tool for evaluating consumers’ creditworthiness, especially for New-to-Credit (NTC) consumers who are limited by their lack of credit history. TransUnion Philippines, a global provider of risk information, helps lenders find lower-risk borrowers and offers them better terms and pricing on credit products and services by leveraging information and insights from alternative data. When TransUnion Philippines uses information for good, it means this.

Opportunities are created by credit. It is feasible for more Filipinos to achieve more in life by emphasizing the advantages of having excellent credit and persistently promoting education on the proper use of credit.

Get your TransUnion Philippines Credit Report HERE.

Have you ever envisioned yourself as a multimillionaire? With Shopee much awaited 11.11 Mega Pamasko Sale, your wishes might come true! With the Shopee Live Milyonaryo, Shopee gives customers an amazing chance to become billionaires. Users who shop on Shopee Live and claim a code between November 1 and November 11 can take advantage of this fantastic promotion. To increase your chances of participating, follow these steps:

How To Be A Millionaire

To get a shot at becoming a millionaire, follow these simple steps!

From November 8-12, Shopee will be announcing one winner each day! If you are one of the lucky five, you will be contacted to take part in a segment on either Shopee Live or national television. During this segment, you will have the opportunity to choose one of six presented bags containing cash prizes of up to ₱1,000,000.

The more you shop, the higher your chances of winning big! Have fun shopping with our Shopee Live 70% off vouchers and try your luck with Shopee Live Milyonaryo to seize your opportunity to become a millionaire. Also, remember to make the most of the exclusive 11.11 offers and deals to enhance your lifestyle even further.

More 11.11 Deals To Get Your Hands On

The e-commerce site has prepared an alluring array of offers for this 11.11 Mega Pamasko Sale, including free shipping, coupons, and mall outlet deals, in addition to Shopee Live Milyonaryo.

• Free Shipping with P0 minimum spend: Shoppers can once again enjoy free shipping on all their purchases with no minimum spending, making online shopping more affordable than ever!
• Exclusive 70% off on Pamasko Deals: A day of non-stop shopping is on the horizon with up to 70% off from various brands and sellers, promising an exceptional experience for early Christmas shopping!
• Shopee Mall Outlet Deals of up to 90% off: The Shopee Mall Outlet is back, offering jaw-dropping discounts of up to 90% off. Expect mind-blowing deals from your favorite brands so you can make the most of your year-end shopping and snag branded items at unbeatable prices.

This is a great chance to become a millionaire and alter your way of life. Don’t pass up Shopee’s amazing deals and promotions during their 11.11 Mega Pamasko Sale. With Shopee, you can win, shop, and improve your life!

The 21st anniversary celebration of CHILD Haus, an organization established by “Mader” Ricky Reyes to serve as a pillar of hope for kids affected by cancer, took place in the SM Mall of Asia Music Hall. The Sy family has continuously been a major backer of the establishment throughout its history: Henry “Tatang” Sy, Sr. in the early years and SM Prime Holdings Inc. in the last ten years. Hans Sy, the chairman of the executive committee, is carrying on his father’s legacy.

Mr. Sy and “Mader” Ricky led the event, and invitations were sent to a number of people and organizations that have supported CHILD Haus throughout the years. There were also a lot of kids there who had been “adopted” by CHILD Haus and were now living there. The media was also present and acknowledged the significant impact that organizations such as CHILD Haus make, as well as how they serve as the “answered prayers” for countless children and their parents.

Three CHILD Haus stories, featuring Aya, Laura, and Jessa, were turned into video vignettes that highlighted the message of hope and the life-saving work of the organization. While it is easy to describe such events as heartwarming and tear-jerking, it was truly remarkable to witness even the most seasoned press photographers being moved to tears by these videos. This is a clear testament to the profound impact that these testimonials had on the audience at the event.

After ‘Mader’ Ricky’s heartwarming welcome, Mr. Sy himself took the stage to present plaques of appreciation to the many friends of CHILD Haus whose generous donations have made the organization’s life-saving work possible.

Those suffering from cancer and ‘adopted’ are provided food and shelter. There are presently two CHILD Haus locations – one in Manila, near the Philippine General Hospital, and one in Quezon City. Until the children are declared cancer-free and/or have completed their treatments and medical procedures, one child and one parent are allowed to live at CHILD Haus. If it’s an infant, both parents can stay.

Karylle, a CHILD Haus regular and ardent supporter, led the kids in a lively song written by her husband, Yael Yuzon. Subsequently, the daughter of “Mader” Ricky performed a reworked version of “Handog” by Florante, tailored to the emotions of the kids at CHILD Haus. The kids had learned and rehearsed these two songs as a way to say “thank you” to all of the visitors who had contributed to the “haus” becoming a reality.

Ultimately, “Mader” Ricky and Mr. Sy agreed on the importance of this occasion, which honors 21 years of kindness, tenacity, and the giving and sharing attitude.

You can follow @smsupermalls on social media or visit www.smsupermalls.com to learn more about SM’s motivational events and stories.

At the 43rd Anniversary of the Civil Security Group at Camp Crame, Gilren Bajado, a female security guard for RJC Security Solutions, was named the Outstanding Security Guard of the Year. PNP Chief PGen Benjamin C. Acorda Jr. presided over the recognition event. Mr. Almus J. Alabe, Senior Assistant Vice President of SM Supermalls Customer Relations Services, and Harold James E. Herrera, Regional CRS Manager, was also present to see the award ceremony.

The extraordinary deed of honesty and integrity that LG Bajado committed on August 3, 2023, in SM Cinema, SM City Marikina, is the source of her extraordinary accomplishment. While performing her clearing duties, she found a misplaced black pouch that contained 64,800 pesos, as well as various ID cards and ATM cards that belonged to Mr. Starsky D. Paunan, a 44-year-old Palarong Pambansa employee.

Without hesitation, she reported this to the CRS office, ensuring the safe return of the lost valuables to their rightful owner. Her integrity, honesty, and dedication have earned her this prestigious recognition and admiration from her peers and superiors.

SM Supermalls and RJC Security Solutions take immense pride in her achievement, as it reflects the company’s core values of professionalism, honesty, and integrity. Her commitment to her duties, her sense of responsibility, and her exemplary character have brought honor not only to herself but also to RJC Security Solutions as a leading provider of comprehensive security services.

SM Supermalls’ dedication to upholding the highest standards of excellence is strengthened by the announcement that LG Gilren Bajado has been named the Outstanding Security Guard of the Year. The organization constantly aims to offer security solutions while making certain that all of its workers uphold the greatest moral standards.

SM Supermalls would like to congratulate LG Gilren Bajado on her remarkable accomplishment and for setting a bright example of professionalism and honesty. Her deeds inspire us all and serve as a reminder of the power one person may have in creating a society that is more reliable and safe.

The Henry Sy, Sr. topping off ceremony was held at the University of Santo Tomas (UST). Hall on October 7, 2023, lastly. The ritual honors the final beam’s placement atop the structure and is a custom among builders.

The Sy family, the SM Group, and UST are honoring the SM founder for his advocacy of lifelong learning with the construction of this seven-story skyscraper. It is also a reflection of the 152-year-old UST Faculty of Medicine and Surgery (FMS), the UST Research and Endowment Foundation, Inc., Anargyroi: FMS Foundation, Inc. (AFI), and their ongoing aspirations to advance in the medical sector.

As for Henry Sy, Sr. Hall will work as a central location for interactive student-centered learning, collaborative transdisciplinary research, interprofessional education, and medical education simulation. It will house the Sts. Cosmas and Damian Simulation and Research Center.

“The Henry Sy, Sr. Hall will be a state-of-the-art structure designed to meet the challenges and expectations of a digitally-inclined medical education landscape. It will house technologically advanced facilities and equipment, which will complement the existing teaching, learning, and research practices of the University. It is yet another milestone, securing the UST FMS a relevant spot, a significant spot in Catholic medical education in the country, the region, and the world.” FMS Dean Dr. Ma. Lourdes Maglinao said about the Henry Sy. Sr. Hall.

“Medical students can access a broad range of digital tools and resources to enhance their learning and education as we were compelled to shift to e-learning and online course platforms,” UST Rector, Very Rev. Fr. Richard G. Ang, O.P., said.

“Nowadays, keeping up with the advances in medical education is paramount to ensure that our students are competent, agile, and well-prepared to meet the challenges and opportunities of the ever-changing educational landscape of modern medicine, and this building, this edifice, will give us state-of-the-art equipment, which will give our medical students a cutting-edge knowledge on how to use robotics as well as other equipment,” Fr. Ang added.

Designed by C.A. Ventura & Partners, the Henry Sy, Sr. Hall is on track to be completed by June 2024. ♦

The process of gathering and preserving rainwater for later use is known as rainwater harvesting. It is a flexible and efficient method of preserving water and lowering dependency on primary water sources. Owing to its effectiveness, it has been used historically by numerous civilizations and is still being used as a sustainable water management method by progressive organizations today.

In order to address this, the social good arm of the SM business, SM Foundation, Inc. (SMFI), has installed rainwater harvesting systems in two of the nearby health institutions that it recently renovated—Brgy. Puerto Princesa, Palawan’s Irawan Birthing Facility and San Fernando, Cebu Primary Health Care Facility.

This invention was proactively adopted by SMFI’s Health and Medical Programs to support environmental preservation and community health maintenance.

Ready in times of emergency

Dr. Alfredo P. Manugas VI, Municipal Health Officer and Health Department Head of San Fernando, Cebu Primary Health Care Facility, said that while water is crucial to their operations, water supply is not always available in their municipality, even their center.

“The rainwater harvesting system is essential in our health facility because the water supply in our municipality is not available 24/7,” he said. “We are now provided a source of water in times of emergency or any interruption of water supply. Our staff and visitors can use rainwater for cleaning, flushing the toilet bowls, and watering the plants.”

SMFI ensures that the facility is convenient and manageable to maximize its purpose. It operates without electricity, increasing its sustainability. To harvest water for non-potable use, it collects rainwater from the roof and gutter. The water is filtered through vinyl-coated mesh filters to ensure its quality before being stored in the 800-liter storage tank.

All of the faucets connected to the facility have labels that are visible to help consumers utilize recycled water safely. In addition to this innovation, SMFI employed locally grown plants, LED lighting fixtures, air-cleaning paints, and appliances to create a hygienic and comfortable atmosphere for patients and healthcare professionals.

In the larger framework of the SM Green Movement, these environmentally friendly developments represent the SM group’s dedication to the environment and public health. Due to the two rainwater collection systems’ positive social impact, SMFI hopes to expand this project to more health centers in the near future, thereby enhancing water security despite obstacles.

One of the most well-known drag performers in the nation, Captivating Katkat, is using her victory in the second season of Drag Race Philippines as a platform to advocate for equality.

The drag queen, who is a Quezon City resident herself, shared photos from a courtesy visit with Mayor Joy Belmonte, who recently launched the Right to Care Card in Quezon city. The initiative gives LGBTQIA+ couples a way to participate in crucial medical decisions for their partners and is hailed as a regional civil rights milestone.

696 couples or 1,392 members of the LGBTQIA+ community have registered to acquire their cards since the program’s debut at the Pride PH festival in June. These cards give their partner special power of attorney (SPOA) for medical treatment. As more people demand the same in other cities, the number keeps rising.

The office of the mayor also posted its own set of photos from their meeting. “Boogsh! Maraming salamat, RuPaul’s Drag Race PH Season 2 Winner Captivating Katkat, para sa pagbisita sa Quezon City Hall! Mainit na tinanggap ni Mayor Joy Belmonte si Captivating Katkat sa kanyang tanggapan ngayong umaga para sa isang courtesy call,” posts the official’s account.

The Right to Care Card initiative is a collaboration between the administration of Quezon City and the marketing and advertising firm MullenLowe TREYNA.

Visit  https://www.facebook.com/RightToCareCard for additional details about the Right to Care card. https://www.instagram.com/righttocarecard and https://twitter.com/RightToCareCard