OWWA Resolution No. 38 lowered the OWWA contribution US dollar-peso exchange rate from US$1.00 : PhP 51.00 to US$1.00 : PhP 42.00, thus, reducing OWWA contribution rate to PhP 1,050.00.

OFWs who paid the OWWA membership contribution at the old exchange rate for the period of 01 January to 18 December 2007 will be issued credit memoranda, which shall entitle the bearer OWWA member to an extended OWWA membership for a period of 3 months beyond the two years 24 months maximum entitlement to OWWA programs and services.