THE Knights of Columbus Fraternal Association of the Philippines Inc. (KCFAPI) said it has recently organized a new financing company, the Kompass Credit and Financing Corp. (KCFC), established to provide more economic opportunities, not only for the members of the Knights of Columbus, but also for the general public.
“With its modest start, KCFC prides itself in delivering flexible and personalized terms that will perfectly match the client’s needs. Just like the mariner’s compass, KCFC provides direction, vision, inspiration and comfort amid life challenges,” said Neil Jerome Rapatan, legal services manager of KCFC, in an article posted on the web site of the Catholic Bishops’ Conference of the Philippines.
Rapatan said KCFC aims to provide financial solutions to families who want to acquire their own home; professionals who are in need of personal vehicles; and businessmen and companies needing additional capital. It also aims to provide financial assistance for the urgent economic needs of employees and professionals through salary loans.
KCFC offers different financial services, like housing loans, car loans, business loans, salary loans and credit-line facilities.
“KCFC’s articles of incorporation and bylaws were approved by the Securities and Exchange Commission [SEC] on March 13, 2014, with a P300-million authorized capital stock. On the same day, it was also given the authority to transact as a financing institution,” Rapatan noted. KCFC’s mother company, the KCFAPI, was established by Fr. George J. Willmann, SJ, as a mutual-benefit association for the Knights of Columbus members in the Philippines in 1958. Willmann, whose cause is being pushed by various groups, vigorously pursued the growth of the Knights of Columbus in the Philippines and worked for the radical transformation of “faith into action.” Other organizations he established include the Catholic Youth Organization in the Philippines; Catholic Press–The Filipinas and Cross Magazine; Columbian Squires in the Philippines; Daughters of Isabella in the Philippines (later reorganized under the name of the Daughters of Mary Immaculate); Columbian Farmers Aid Association; Knights of Columbus Philippines Foundation Inc; and the KC Fr. George J. Willmann Charities Inc.
Claudeth Mocon-Ciriaco