Praxis Fides Mutual Benefit Association, Inc. was registered with the Securities and Exchange Commission on February 17, 1987. The license to operate as an MBA (mutual benefit association) was first granted by the Insurance Commission on January 11, 1995.

The idea of putting up Praxis Fides MBAI was a response to the call for moral and economic recovery in post-EDSA Philippines. In particular, it originated in the context of voluntary Church workers, especially catechists, to encourage thrift and savings.

Money is generated by a member’s subscription in specific pension plans – value of money grows in time over and above contributions. Members are covered by a life-insurance, usually 300 times monthly contribution, but never to exceed P200,000.00. Members are encouraged to borrow in order to put up economic/livelihood projects.

Across the years PF has financed school constructions, numerous private businesses and myriad provident purposes.

Although membership was first intended for Church workers, their small number prompted the Association to open its doors to a wider public, to also include what we like to call potential Church workers. In the main, membership is open to any resident of the province who shares in the Association’s objectives. Most of the field workers (agents/ area reps) come from the ranks of church workers.

After 28 years of operation, Praxis Fides today continues to grow not only in asset size and membership but also in providing efficient and quality service to its members.  The types of plans offered have been diversified in order to suit the varying needs of the planholders.  Loans are promoted and members are encouraged to borrow in order to give them the opportunity to use their savings while waiting for the maturity.  Investments are carefully chosen to ensure  better if not the best returns.  The workforce, both area-based and office-based, are provided with trainings and seminars to make them competent and knowledgeable in their respective functions.  All these are directed towards the organization’s vision mission and so far, the company is successful in attaining  its corporate thrust.

With 22 satellite offices and the company head office located in Malolos City business district, the total membership of Praxis Fides has reached more than 92,000 the biggest among all the MBAIs in the country.  The asset size is more than P 500M by the end of December 31, 2014.  Praxis Fides MBAI is regulated by the Insurance Commission and enjoys tax exemption privileges from the Bureau of Internal Revenue.  It is among the 9 members of the Philippine Chamber of Mutual Benefit Associations (PCHAMBA).  The Board of Trustees is composed of 7 dedicated and respected individuals who were duly elected by the general membership.  The management team on the other hand is made up of 21 employees who were appointed based on relevant educational background and competency.  The company is also a member of Bulacan Chamber of Commerce and Industry.