Dear SESLA Members,

We are pleased to announce that the Bangko Sentral ng Pilipinas (“BSP”), after review and evaluation, has approved SESLA’s Distribution of Net Income for 2018.

  1. Rate

    During its January 15, 2019 meeting, the Board of Trustees resolved to declare Return on Capital Credits (RCC)** at 9.00% p.a. on the average daily balance of each member’s prescribed maximum total amount of fixed and withdrawable capital contribution balance of P110,000.00 for the period January 1 to December 31, 2018.

    The capital contribution held in excess of the prescribed maximum fixed and withdrawable capital contribution of P110,000.00 shall be given a 3.00% p.a. RCC based on the average daily balance for the period January 1 to December 31, 2018.

  2. Mechanics

    I. For an orderly distribution of checks:

    a. RCC lesser than P 1,000.00 will be credited to members’ capital contribution account.

    b. RCC greater than or equal to P 1,000.00 shall be released at the following:

    1. TFC Based Members – Starting February 26, 2019, SESLA will personally deliver your dividend check at your workstation.

      Kindly email your floor number at: [email protected]

    2. SBO Members – SESLA will be at the Solaris 21st floor Huddle Room on February 26, 27 & 28 and on March 1 & 5:

      RM 2118 February 26 4:00pm – 6:00pm
      RM 2118 February 27 2:00pm – 6:00pm
      RM 2118 February 28 2:00pm – 6:00pm
      RM 2118 March 01 2:00pm – 6:00pm
      RM 2117 March 05 3:00pm- 6:00pm

    3. Retirees – SESLA will be at the Canteen of Shell House Makati on February 26 from 9am to 3pm.

    4. We can also deposit your dividend check to your BDO, Union Bank, BPI and Metro Bank account. You may email your instruction to deposit with your bank details at [email protected]

    II. When Claiming through a Representative, kindly submit/present the following:

    1. Member’s authorization letter
    2. Member’s valid ID (photo copy)

    3. Representative’s valid ID (original copy)

    Thank you.

    Very truly yours,

    MILAGROS C. AZANZA
    Trustee and President

    ** RCC is how we define the manner of distribution of income per SESLA By-laws Article 10.