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About FOVISSSTE

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 FOVISSSTE

It is the entity in charge of granting housing credits for State workers. The Housing Fund is the de-centralized entity of the Social Security and Services Institute for State Workers (ISSSTE) in charge of managing the contributions of public agencies and entities that are affiliated to the ISSSTE contemplated for the granting of credits to State workers for the purpose of acquiring, repairing, enlarging or improving of housing.

 

WHEN WAS IT CREATED?

The ISSSTE Housing Fund (FOVISSSTE) was created in 1972 through the following Decrees:

• On November 10th. 1972 the Decree reforming section f, paragraph XI of item B of the Constitution's 123rd. article was published in the Federation's Official Gazette (D.O.F., by its Spanish initials), to be read as follows:

 

"… the State, through the contributions it may make, will establish a national housing fund so as to constitute deposits in favor of said workers and establish a financing system that allows the granting of inexpensive and sufficient credits, so that they may acquire in property comfortable and hygienic housing or to build, repair, improve or pay any liabilities they may have incurred in connection with the above.

Contributions to said fund will be deposited with the entity in charge of social security, to be regulated by its Governing Law and any related legislation regarding the form and procedure for the management of said fund and for the granting and allocating of the aforementioned credits;"

• In following-up on the above, on December 28th. 1972 the D.O.F. (Federation's Official Gazette) published the Decree reforming and adding to articles 38 and 43 of the Federal State Workers Act, which governs item B of the Constitution's Article 123, as follows:

 

BACKGROUND

Article 38: Withholdings, discounts or deductions from workers' wages may only be made when:

Paragraph VI: Regarding partial repayments to cover loans from the Housing Fund for acquiring, building, repairing or improving dwellings or for the payment of liabilities incurred in connection therewith. These discounts or withholdings must have the full, free approval of the worker in question and may not exceed 20% of total wages.

The total amount of all withholdings or discounts may not exceed thirty percent of total wages, save for those cases contemplated in this article's paragraphs III, IV, V and VI.

Article 43.- The persons referred to in the 1st. article of this Law have the following obligations:

Paragraph VI.- To cover contributions dictated by special laws, so that workers receive the benefit of social security and services contemplated in:

Section h) Constitution of deposits in favor of workers through contributions from their basic wages or salaries, in order to form a housing fund for the purpose of establishing financing systems allowing the granting of inexpensive and sufficient credits to said workers so that they may acquire for themselves or in condominium comfortable and hygienic housing; to build, repair or improve said housing or to pay any liabilities incurred in connection therewith.

Contributions made to that fund will be deposited before the Social Security and Services Institute for State Workers, the governing Law of which shall regulate the procedures and forms according to which the corresponding credits will be granted and allotted.

• On December 28th. 1972, the Federation's Official Gazette published the Decree reforming and adding to the Social Security and Services Institute for State Workers Act, establishing the operation and functioning of a specialized fund, the financial resources of which would come from the State:

 

Article 3.- The following insurances, benefits and services are established as mandatory:

Paragraph XIV.- Mortgage credits for acquiring plots and/or houses, for building, repairing, enlarging or improving same; as well as for paying back any liabilities incurred in connection therewith;

 

WHO RUNS IT?

• BOARD

The Board of the Social Security and Services Institute for State Workers is the Governmental Entity in charge of running the programs established by the Executive Branch regarding the Institute, including revision, supervision and surveillance of the Housing Fund's operations.

• HOUSING FUND EXECUTIVE COMMISSION

The Executive Commission is the Governmental Entity of the Social Security and Services Institute for State Workers (ISSSTE) in charge of dealing with the Housing Fund's operations.

• Through a Decree published in the Federation's Official Gazette on November 10th. 1972, section f) of paragraph XI of item B of the Constitution's Article 123 was reformed, for the purpose of establishing a Housing Fund managed by ISSSTE.

 

The Executive Commission was created deriving from this constitutional mandate; on December 28th. 1972 Decrees reforming and adding to the Federal State Workers Act and to the Social Security and Services Institute for State Workers Act, detailing the goals and functioning of FOVISSSTE.

• THE EXECUTIVE REPRESENTATIVE

The Executive Representative is the public official named by the ISSSTE Administrative Board, following a proposal by its General Director, in order to conduct the management of FOVISSSTE. In any temporary absences, the Executive Representative is substituted by the official appointed thereto by the ISSSTE General Director.

Between 1973 and 2001, 21 individuals have worked as FOVISSSTE management heads, either as Executive Representatives or as substitutes therefor during their absences (provisional).

 

EXECUTIVE REPRESENTATIVES FROM 1973 TO DATE

 

N°	EXECUTIVE REPRESENTATIVE	ADMINISTRATION PERIOD
		FROM	UNTIL
1	Arq. Enrique Ávila Riquelme	January 1973	December 1976
2	Ing. Gustavo Lozano Lozano	January 1977	May 1979
3	Ing. José Antonio Nieto Ramírez	May 1979	December 1979
4	Prof. José Antonio Lara Gaitán	January 1980	December 1982
5	Lic. Leonardo Basave Aguirre	January 1983	January 1985
6	Lic. Jorge de la Rosa Sánchez	January 1985	December 1988
7	Lic. Jorge Bastarrachea Sabido	January 1989	December 1992
8	C.P. Luis J. Terán Rodríguez	January 1993	March 1993
9	Ing. Jorge H. Rivera Gómez	April 1993	December 1994
10	Ing. Roberto Orozco Rodríguez	December 1994	October 1995
11	C.P. Alejandro Posadas Espinosa	October 1995	February 1997
12	Lic. Jorge Francisco Frías Melgoza (Substitute for the Executive Representative)	February 1997	May 1997
13	Lic. Fernando Gutiérrez Domínguez	May 1997	February 1998
14	Lic. Salomón Díaz Alfaro	February 1998	June 1998
15	Lic. Eduardo G. Almeyda Armenta	June 1998	July 1999
16	Lic. Jorge Vázquez Vázquez (Substitute for the Executive Representative)	July 1999	September1999
17	Lic. Eugenio Ruiz Orozco	September1999	January 2001
18	Ing. Gustavo Fernández Díaz de León (Substitute for the Executive Representative)	January 2001	January 2001
19	Lic. Luis de Pablo Serna	January 2001	April 2002
20	C.P. Eduardo González González	May 2002	February 2004
21	Arq. Benito Gutiérrez Femat	February 2004	December 2006
22	Lic. Manuel Pérez Cárdenas	January 2007	To Date