Our Mission
LEANDRO
S. BACUD
Chairman/President
Company Profile
TESALAI was founded on March 23, 1962 with initial capital amount of P3,
000.00. Its basic principle of operation is adopted from traditional
“paluwagan” put up by its pioneering 115 members within Telecommunications
Office (TELOF). The rationale for creation is to put into order the principle of
bonding to pool their resources where each member can draw resources when
needed. The founding Executive Officers by raising of hands were Mr. Francisco
Nora as President/Chairman and Mr.Aurelio R. de Leon as Vice President/Treasurer
with office at the Bureau of telecom, Supply Section, Bilibid Viejo, Sta. Cruz,
Manila.
True to its form, the pioneering TESALAI Executive Officers and Board of
Directors and other kindhearted personnel were the people behind TESALAI success
who have rendered noble and dedicated services without compensation. Later in
November 1966 the Board employed a full time bookkeeper at P95.00 a month and
the Treasurer/Director was granted a P50.00 monthly allowance. The TESALAI Board
granted a P50.00 petty cash loan to the member’s payable in four (4) months.
As the Executive Officers and the Board of Directors in their first four (4)
years of incumbency were not entitled to whatever allowance, they shouldered
their own expenses for the Board meeting.
As a result of a non-union policy adopted during the period of Martial Law in
1972, the National Telecommunications Employees Union (NTEU) with its Executive
Officers, namely, the President, the Vice President, the Treasurer and the ten
(10) Board of Directors were incorporated with the TESALAI Board resulting into
a steadily going up TESALAI membership nationwide limited to the regular and
active employees TELOF. TESALAI become the exclusive savings and loan
association existing and operating for TELOF.
Under its By Laws, as amended, TESALAI General Convention were made for every
two (2) years and since, 1997 up to present, for every three (3) years. The
corporate powers of TESALAI have been exercised and conducted by the Board of
Directors comprising One (1) President/Chairman, (1) Vice President/Director and
(1) Treasurer/Director; and Seven (7) Board of Directors.
Funds of the Association have been derived from the corresponding membership
fees, capital contributions, as well as saving deposits of the members. Funds of
Mutual Aid Plan (MAP) as death/burial benefits and Mutual Security Aid Plan (MSAP)
as fire casualty assistance are being deposited with the TESALAI plus the
mandatory reserve from the annual income of TESALAI.
The following are the significant highlights of development and
accomplishment from 1972 up to present, to read:
1. On September 21, 1972, Martial Law was declared resulting in the automatic
dissolution of the NTEU and eventually TESALAI solely handles the operations of
the Mutual Security Aid Plan as well as the Mutual Aid Plan.
2. On September 5, 1975, the Governor, Central bank of the Philippines issued a
Certificate of Authority No. NS-048 in favor of TESALAI.
3. An immediate stoppage of issuing post-dated checks.
4. On October 4, 1995, a Collective Negotiations Agreement between
Telecommunication Office and the National Telecommunication Union (NTEU) was
entered into by the Assistant Secretary, TELOF representing TELOF Management and
Mr. Leandro S. Bacud representing NTEU/TESALAI coinciding with the Foundation
Day of Telecommunication Office in the presence of the representatives from the
Civil Service Commission. The Mutual Security Aid Plan Benefits remains under
the supervision of TESALAI as it is purely members benefits and not for
operational expenses.
5. On December 10-11, 1994, during recent convention of the confederation of the
Non-Stocks Savings and Loan Association, Inc. (CONSLA) with 68 association
members, Mr. Leandro S. Bacud, TESALAI President/Chairman was unanimously
elected as one of the Fifteen (15) Board of Directors of CONSLA at Clark Filed,
Pampanga, and as President of CONSLA for Two consecutive years on May 2002-2004
at Baguio City.
6. The creation of the Mutual Aid Plan (MAP) provides TESALAI members an
optional to be its member first with a monthly dues of P5.00 which later amended
to P10.00 and finally P20.00 monthly contribution as trust fund to cope up with
the dictates of member’s burial benefits. The P20.00 multiplied by the number
of the active members should mean a cash benefit amounted to more or less P60,
000.00.
7. An initial detailed auditing of the Books of Account o TESALAI done by
Tanjutco Bote Accounting Office.
8. An Improvement/renovation of the TESALAI Office for the good of service to
both employees and members.
9. Loan vouchers, pertinent documents are all accountable forms with serial
members in accordance with the regulations of the Monetary Board of the Bangko
Sentral ng Pilipinas.
10. On June 22, 1995, the Director of Securities and Exchange Commission
issued Certification in favor of TESALAI.
11. In 1995, TESALAI Management re-engineered its pertinent business processes
and embarked on the Office Automation of Loan Service and recording system. At
the initial stage (1) set of Personal Computer (PC) had been purchased employed
one (1) Data Encoder and entered into a contract with private services for its
system development.
12. In 2001, TESALAI purchased of four (4) sets of Personal Computer (PC),
printers and its accessories and established it’s Local Area Networking (LAN).
14. Processing and releasing of loans have been in order and dispatch on time
even to the regional levels.
At present, TESALAI have a total membership of approximately 3,100 members with
total assets of than One hundred Eleven Million Pesos (P111, 000,000.00) by
1989. They are also automatic members of the so called Mutual Aid Plan by the
way of P20.00 monthly dues or contributions. In case of the untimely death of a
member, the bereaved family shall be entitled to a burial benefit equivalent to
Sixty Thousand Pesos (P60, 000.00) more or less.
As benefits to members, TESALAI provides a Petty Cash of P2, 000.00 payable in
five (5) months salary deductions. Educational loans amounting to P24, 000.00
payable within two (2) years and a Regular Loans of Five (5) Months Salary Loans
plus capital contributions deposits payable within three (3) years and a real
estate loans equivalent to at least 70% of the market value of the lot subject
to mortgage and financial capability of the borrower. Monthly amortizations of
the aforesaid loans are strictly subject to the net take home pay of the
borrowing members mandated by the General Appropriation Act (GAA). Regular and
Educational loans are both covered by the Loan Redemption Insurance.
On November 12, 2004, The TESALAI Board approved a 18% dividend. In its General
Convention held in February 2003, TESALAI members elected the following
Executive Officers: (1) Leandro S. Bacud as its President/Chairman; (2) Joseph
Kent L. Borres as Vice President/Director and (3) Treasurer/Director Aureliano
R. de Leon. The Board of Directors are: (1) Dir. Hilarion E. Ulep; (2) Dir.
Rolando F. Ferma; (3) Dir Gil P. Ugaban, (4) Dir. Guido C. Agon; (5) Dir. Nestor
S. Bongato; (6) Dir. Redentor D. Pambid; and (7) Dir. Clodualdo N. Rodil. The
Board appointed Mr. Edilberto S. Cabigas Jr. as Corporate Secretary and Mr.
Elmer S. Sadicon as Internal Auditor.
Contact Information
- Telephone
- +63 2 3713281
- FAX
-
- Postal address
- TELOF, A. Roces Ave., Quezon City
- Electronic mail
- General Information: tesalai@telof.gov.ph
Sales:
Customer Support:
Webmaster: webmaster@telof.gov.ph
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