The goal of Philippine Finance Association (PFA) is “to promote, enhance and uphold sound, legitimate and ethical business conduct and practices among banks, finance companies and other financial institutions engaged in consumer finance, financial leasing and other forms of business finance to the end that the country’s consumer and business financing needs are properly met and these institutions are able to the optimum, contribute to national economic progress.”

As provided for by the PFA By-laws, the board of directors determined the qualifications of an applicant for membership of the Association as follows:

1. Membership shall be by companies or other legal entities.  Any financial institution engaged directly or indirectly in financing transactions with consumers or end-users, or in financial leasing duly organized and licensed to act as such by the Bangko Sentral ng Pilipinas, the Securities and Exchange Commission or other appropriate government agency may become a regular member of the Association.
   Quasi-financial institutions like lending investors, cooperatives and micro-lending companies who extend loans or financing to their customers or members as well as non-financial institutions like automotive dealers, equipment vendors, car rental firms and real estate companies who extend  financing via installment with a loan tenor of at least one (1) year to their customers may be accepted as associate members but shall not be entitled to vote in elections or other proceedings of the Association.
2. Representation - Every member shall be represented by one official representative and one or more alternate representatives who shall come from within the first four senior executive ranks of the members.  Any representative not falling within these ranks shall be admitted as such but only upon two thirds vote of the Board of Directors.  The representative and alternate may both attend meetings and participate in discussions, but a member shall be entitled to cast only one vote.
3. All applications for membership shall be sponsored or endorsed   by a bona fide member of the Association and shall be accepted or declined by majority vote of the Board of Directors.
4. Rights of Members – A member shall have the following rights:
   1. To exercise the right to vote on all matters relating to the affairs of the association;
   2. To be eligible to any elective or appointive office of the association;
   3. To participate in all deliberations/ meetings of the association;
   4. To avail of all the facilities of the association;
   5. To examine all the records or books of the association during business hours.
5. Duties and Responsibilities of a Member – A member shall have the following duties and responsibilities:
   1. To obey and comply with the by-laws, rules and regulations that may be promulgated by the association from time to time;
   2. To attend all meetings of the association;
   3. To pay membership dues and other assessments of the association.

Members are expected and encouraged to actively participate in the activities and affairs of the Association.  For this purpose, they are mandated to attend, as a minimum requirement, the General Membership Meetings and the Annual Convention as well as its relevant seminars and similar activities.

6. Membership Fees, Dues and Assessments – Every new member-company shall pay an initial membership fee in such amount as may from time to time be fixed by the Board of Directors and approved at a meeting of the General Membership.
   Each member shall pay annual dues also in such amount as may from time to time be fixed by the Board of Directors and approved at a meeting of the General Membership.
   The amount of these dues and fees may be changed only once in any fiscal year.  
   Annual dues shall be paid not later than the end of July of every year.  New members shall pay their membership fee and dues upon admission.