MANILA – The new set of officers of the Institute for Labor Studies Employees Association (ILSEA), headed by President Bernard Paul M. Mangulabnan, kicked off its first general assembly with a financial literacy learning session on 14 April 2023 prior to discussing plans and goals for the welfare of its members.
ILSEA Treasurer Marigold Pabon’s financial literacy presentation focused on the practical aspects of saving and budgeting for the employees' monthly earnings amidst the macroeconomic difficulties they may face. The presentation emphasized avoiding emotional spending and the importance of saving for the future to prevent economic difficulties in the long run.
Moreover, Pabon presented the savings schemes available to ILSEA members, highlighting the competitive interest rate of 6 percent per annum offered by the ILSEA Savings Scheme or Paluwagan Shares, which is higher than the traditional banks' rates. The scheme aims to prevent inflation from devaluing employees' salaries over time.
Overall, the ILSEA's general assembly and financial literacy seminar aimed to empower its employees to make informed financial decisions that will secure their financial future.