Rationale for Termination of the eCAT Loan
- The UMID Card has been in circulation for over two years, and members are generally aware of its significance.
- Data showed a low rate of availment for the eCAT loan, suggesting the program had reached market saturation.
- Given these circumstances, continuing the eCAT loan program was deemed unnecessary by GSIS management.
Decision and Effective Date of Termination
- The GSIS Board resolved to approve and confirm the termination of the eCAT loan program.
- This decision was based on a recommendation from the Senior Vice President of the Controller Group, documented in a memorandum dated December 5, 2012.
- The termination was slated to take effect no earlier than June 2013, allowing for an orderly phase-out of the program.