It was in April 1987 when employees of SM, headed by Mr.Ricky A. Lim, saw the need to assist SM employees with their financial needs, and at the same time teach them to be thrifty and prudent. By way of setting up a Savings and Loan Association, members can save and access funds whenever the need arises.

Mr. Henry Sy Sr., seeing the benefits the SM SLA will bring to its members, willingly donated the initial seed money of P100,000 to the Association.