Expands services to different sectors
ATE Cynthia M., 28 is from Atimonan, Quezon, and works as a saleslady in a shoe store in Laguna. She lives in a tiny room in Susana Heights and on weekends goes home to San Pablo, Laguna where her children lives with her cousin.
She is the only breadwinner and also helps makes ends meet for her mother and younger sister back home.
“Ang una kong ref nabili ko sa Home Credit at dun ko pinadeliver sa amin (in Atimonan) agad,” she narrates saying how it was never possible for her to get a credit card or make a bank loan. “Dati po palaging sa ‘payb-siks’ ang lalapitan kung may kailangan sa amin. She became a widow at 19 after her husband died in a bus crash in 2013.
“Itong telepono ko pangalawa na kuha ko sa Home Credit yun una binigay ko sa anak ko. Ngayon na-approve na din ako bumili ng laptop para sa mga anak ko, tapos na ang pandemic pa, kaya modular ngayon halo-halo na sa bahay at face-to-face. Nung sinabi ng anak ko na wala siyang laptop sabi ng titser niya gawan ko daw ng paraan,” she says.
Asked if she understood why she can make so many purchases on credit, she says “maganda daw ang aking pagbayad tuwing akinse kaya lumaki ang credit (score) na utang ko.”
Since 2013, Home Credit’s role was to provide financial tools even to first-time borrowers–back then it was mostly appliance loans. Today, true to its commitment to “empowering Filipinos” Home Credit Philippines (HCPH), adds innovative products and solutions, and further expands its services as the country’s leading consumer finance company, to different sectors to bring Filipinos. The goal: bring them closer to the lifestyle they want.
“Ang gusto ko pong lifestyle yun simple lang. Magkakasama kami ng mga anak ko tapos may mga gamit na pampadali ng buhay at para maging magaang ang buhay ng anak ko at ang nanay ko,” Ate Cyn narrates adding that she has never experienced a smoother way to credit, without the hassle and the unwanted pressure of informal lenders.
“Building on Home Credit’s heritage of delivering a broad range of financial products and services, Home Credit Philippines has enabled almost 9 million Filipinos nationwide to access credit opportunities. As the needs of our consumers continue to evolve, we commit to supporting them as we build a more financially resilient Philippines,” David Minol, HCPH’s Chief Executive Officer said in a gathering of media men recently.
HCPH’s solid progress in financial inclusion
Teacher Janice M. is from the Recto National Memorial High School in Tiaong, Quezon. The public school is known for its strong science curriculum. Teacher Janice’s first “modern” laptop, is now an outdated Pentium she purchased in SM San Pablo in 2015. Now 7 years old, it is time for an upgrade.
“Since I bought it using Home Credit, then I will buy a better one using Home Credit too,” she explains saying that it was so easy to make loans for appliances and finds the interest rates affordable.
“Hindi po mura ang interest rate pero katanggap-tanggap naman,” she says saying that she dumped her credit card after discovering Home Credit. “Wala ng annual fee dito tapos ang bilis pa.”
Since entering the country almost nine years ago, Home Credit has disbursed more than P178 billion worth of loans to Filipinos across segments, including the services, education, and health sectors. Now, Home Credit has evolved into a one-stop ally to millions of Filipinos.
Over the past years, it has expanded its network to a robust 10,000 retail partners nationwide, has aggressively grown its online presence, and has forged partnerships with the country’s biggest brands.
in December 2021, HCPH closed its very first ESG-linked credit facility with Deutsche Bank amounting to P1.2 billion. This facility provided women and first-time borrowers with expanded credit access and supported financial literacy programs in the country. It also supported the company’s digitalization efforts, which then enabled Home Credit to provide 60 percent of its loan via digital channels.
Earlier in May this year, Home Credit pioneered a P420 million social finance facility, which was recently increased to P820 million, with the country’s largest foreign bank Citi. This facility supported Home Credit’s customers in purchasing basic digital devices–half of the loan goes to women, who make up 50 percent of Home Credit’s customers.
The company closed a P7-billion two-year credit facility with multi-awarded universal bank UnionBank to provide comprehensive financial access to more Filipinos.
The agreement allows Home Credit to provide more Filipinos with financial accessibility and inclusion across the brand’s intuitive and affordable loan products
“Financial inclusion has always been at the heart of how we approach business. Ensuring that we are able to provide tailor-fit solutions to our customers’ particular circumstances has been vital in our goal of bringing financial opportunities closer to more Filipinos,” HCPH’s Director and Treasurer, Zdenek Jankovsky emphasized.
Empowering Filipinos Para sa Life
“Nabisita na din kami sa school at mga teachers were taught financial literacy. Included there is to refrain from borrowing from unsure sources, lalo na ang five-six because it is no good for the economy. Alam namin that through legitimate financing services like HC, nag contribute pa kami to taxes,” Teacher Janice elaborates.
This is one of many community-based financial literacy campaigns that Home Credit started. It includes simple learning on how to save using a coin-collecting can (a.k.a piggy bank). This is but one of the company’s projects, in pursuit of its goal of financial inclusion for more Filipinos.
It just launched its “Para sa Life” campaign–an initiative that aims to spread a message of hope, making the brand a reliable ally of Filipinos for life.
One of the initiatives under the Para sa Life campaign is the Payo Para sa Life, a 2-minute radio show that discusses fundamental financial literacy topics. This program is aimed at various communities, including market vendors, farmers, fisherfolk, public transportation drivers, and security guards.
The Para sa Life campaign also debuted a music video — top billed by singer-songwriter Moira dela Torre — that positioned Home Credit as a reliable financial partner that assists Filipinos in whichever stage of life they may be.
“At Home Credit Philippines, we see transformative communication as a way to effectively tell our story – the story of empowered Filipinos. The campaign did exactly just that as it encapsulated our promise of companionship in our customers’ life journey,” Sheila Paul, HCPH’s Chief Marketing Officer shared.
“Being able to present our services and solutions in ways that closely speak to our consumers helps us continue championing a financially empowered and inclusive Philippines,” she added.
Home Credit Philippines is a financing company duly licensed and supervised by the Securities and Exchange Commission (SEC) and by the Bangko Sentral ng Pilipinas (BSP). Click here to know more about Home Credit Philippines.
