Shell Employees Savings and Loan Association, Inc. is a non-stock, non-profit savings and loan association registered and incorporated with the Bangko Sentral ng Pilipinas and Securities and Exchange Commission in 1955. It is principally established for two-fold purposes:
– To cultivate the habit of saving among Shell employees.
– To provide financial assistance with minimal interest rate on loan, in times of need.
Established in 1955 as a non-stock, non-profit savings and loan association, Shell Employees Savings and Loan Association, Inc. (SESLA) has come a long way in its sixty- two years of existence, offering a wide range of financial products and services to all its members throughout the Philippines.
SESLA is a P473 million organization governed by the Bangko Sentral ng Pilipinas (BSP). It is respected and recognized by the BSP as one of the most compliant among the 78 members of Non-Stock Savings and Loan Associations, Inc. (NSSLAIs). This has been made possible by SESLA’s strict compliance with the MORNBFI (Manual of Regulations for Non-Bank Financial Institutions) of the BSP and complete adherence with laws governing the activities of this industry. This impressive record of SESLA is attributable to its Board whose Trustees are either regular Shell staff members or retirees of Shell. Thus, Shell’s business principles of honesty, integrity and respect for people are values which are adhered to in SESLA’s dealings with members and external contacts.
Shell Employees Savings and Loan Association, Inc. (SESLA) was founded in 1955 by a group of employees of The Shell Company of the Philippines, Limited. With only one manpower and a seed fund of P50 thousand, it started its operation in a small office space at the Shell House Building in Binondo, Manila.
The early years of its operations demonstrated a critical period for the Association. The insufficiency in capitalization plus the operational problems took its toll on its frail organization. To work against the impending collapse, a new administration was set up towards the beginning of the 70’s. True enough, SESLA was able to survive the shudders through hard work and determination. It was then when the association widened its membership to out-port-based (Luzon, Visayas and Mindanao) employees of Pilipinas Shell.
During the latter part of the 90’s, certain flaws in the organizational set-up of the Association came to light that demanded major changes. Fundamental and significant changes have been instituted in the Association that continues to this day. Furthermore, SESLA’s continued steady growth and commendable efficiency and quality professional service can be traced to the foresight, cooperation and harmonious relationship among the Board of Trustees, Officers and Staff.
To promote financial literacy and wellness among SESLA members.
To provide competitive and easily accessible financial products and services while delivering optimum returns on investments and contributions of all members.
In search of our mission, we will conduct our business in a manner that satisfies our members in all areas in which we do business. We completely commit our resources, capabilities and strength to:
While information is the cornerstone of our ability to provide superior service, our most important asset is our member’s trust. Keeping member information secure, and using it only as our members would want us to, is a top priority for all of us.
We will make the members needs our primary concern and assure customer satisfaction at all times.
We will deal with our employees with justice and equality. We will provide opportunities for their development and advancement.
A message from the President…
Since the creation of SESLA in 1955, from a simple one-man operation, our membership has grown to 3,459 as at end June 2017.
The profile of our members has changed in terms of age and, more importantly, in the new ways of working brought about by the ever-changing global trends. SESLA’s members are mostly young men and women whose lives are busier than ever. These developments have been brought about by increased competitiveness, competencies and work situations/needs.
In the midst of the above challenges and the reality of shrinking interest rates on deposits, SESLA continues to support its members through quick access to loans at reasonable interest rates and ensuring returns on members’ CAPCON and investments which are higher than commercial rates.
As your partners, we assure you of our commitment to continuously look for ways to serve you better. One of this is the improvement of our IT facilities – through this website and in our office systems.
SESLA, under the direction of the SESLA Board, pledges to serve you with utmost competence, dedication, honesty and integrity.
Thank you for your trust and support. We look forward to many more fruitful years with you- our partners!