The program launch was done simultaneously with the graduation of the first two (2) batches that were able to attend the Financial Literacy Trainings on the months of May and July 2011.  A total of 67 graduates received a certificate of completion for successfully completing the 4 module course in the “Financial Literacy Workshop.”  The CARD MRI OFW Foundation (Hong Kong) or CARD Hong Kong for short aims to assist the Overseas Filipino Workers (OFW) and associations in Hong Kong through provision of financial literacy programs; to provide other related educational training programs and services such as advice and peer support that will enhance the OFW’s financial and economic prospects in life; and to promote and protect the vision and interests of CARD Hong Kong.  Two (2) more batches of trainings are set to be conducted in Hong Kong before the year ends.

The Board of Trustees of CARD Hong Kong also had their first Board meeting that same day after the launch and graduation program.  Ms. Edna Aquino sits as the Chairperson of the Board, Mr. Rex Aguado as the Vice-Chairperson, Ms. Anabelle Libao as the Secretary and Ms. Marilyn Manila as the Treasurer.  Other members of the Board are Mr. Edzel Ramos, Ms. Daphne Kuok and Ms. Maritess Mapa.  Everyone in the Board (except for Ms. Manila and Mr. Ramos) are known and respected Filipino leaders in Hong Kong in their own different Filipino organizations.

delegates also included a tour in the Grand Palace, visit in several cooperatives and the viewing of a cultural show in Siam Niramit.  The delegates had their final night in Thailand by sharing a “Pinoy Ako” dance number in front of the international participants while wearing their Filipinianas.  Having this trip as the first international plane ride of the delegates, they were all overflowing with joy and gratitude for CARD as they all went back to the Philippines.

CARD MRI Information Technology Inc. is holding this one-day Job Fair:

Date: May 7, 2011 (Saturday)

Time: 9:00 a.m. to 4:00 p.m.

Venue: CARD MRI Executive Offices, 20 M. L. Quezon St., City Subdivision, San Pablo City, Laguna

Click here for more details

The Philippine Postal Corporation is coming up with the 25th Anniversary of the CARD MRI (Center for Agriculture and Rural Development Mutually Reinforcing Institutions) stamps, which will be issued on April 25, 2011. It is classified as a “Commemorative” kind of issue with a denomination of P 7.00 and quantity of 106,000 pieces.

A group of 15 rural development practitioners organized the Center for Agriculture and Rural Development (CARD) Inc. as a social development foundation in December 1986 as a concerted response to the growing poverty incidence in depressed communities in Regions IV and V, particularly in the provinces of Laguna, Quezon, Mindoro Oriental, Mindoro Occidental, Marinduque, Masbate and the Bicol Region. Its vision has always been to establish a bank created for, owned and managed by landless rural women. In the words of CARD Founding President and now Managing Director, Dr. Jaime Aristotle B. Alip, Only by creating a vehicle for asset ownership, can we ensure that the poor will gain control over their own resources and over their own destiny. Read more on the history of CARD MRI.

The technical description of the 25th Anniversary of the CARD MRI (Center for Agriculture and Rural Development Mutually Reinforcing Institutions) stamps are as follows:

Kind of Issue: Commemorative

Denomination and Quantity: Php7.00 / 106,000 pieces

Date of Issue: April 25, 2011

Last date of Sale: April 24, 2012 (or as stocks allow)

Size: 40 mm x 30 mm.

Perforation: 14

Sheet Composition: 40 on (4 x 10)

Kind of Printing: Litho offset

Paper: Imported Unwatermarked

Printer: Amstar Company, Inc.

Designer: Mr. Victorino M. Serevo, Philpost
Ms. Mae M. Catibog, CARD MRI

Photo Credits: Mr. Karl Grobl of Freedom From Hunger, USA

Design Coordinators: Dr. Ngo Tiong Tak
Elenita D.L. San Diego

Design: The exchange of money between two hands that show Php20.00 bills and an agricultural land in the background. It also shows the 25 years logo of CARD MRI, which means Center for Agriculture and Rural Development
Mutually Reinforcing Institutions.

Source : http://philpost.gov.ph/web/25th-anniversary-of-card-mri-commemorative-stamps/

Signing ceremony between Dr. Jaime Aristotle B. Alip, Founder and Managing Director of CARD MRI and Mr. Thiraphong Tangthirasunan, BAAC President.

The Center for Agriculture and Rural Development (CARD) Inc. is an institution which believes that financial support is not enough to entirely eradicate the poverty situation in the Philippines. Its in-house researches have showed that poor people needs an outlet for their produce, a well-made structure that they can call their home, proper education for their children and assistance to smooth their consumption spending and build more assets. In response to the eagerness of CARD Inc. to address these needs, it has further improved itself and established the CARD Mutually Reinforcing Institutions (MRI), which is composed of several units, providing these essential services to the poor people and having the same goal as its mother-company, the CARD Inc.

Six institutions are now geographically in operation – the CARD NGO, the CARD Bank, the CARD Mutual Benefit Association (MBA), the CARD MRI Development Institute (CMDI), and the CARD Business Development Services (BDS) and the CARD MRI Insurance Agency (CAMIA). In the nearest future, CARD MRI will also establish its Housing Company for the microfinance clients.

CARD Inc. is known as an innovative leader in the microfinance industry. It has marked a paradigm shift when it became the first NGO to transform into a bank in 1997. It is also the first micofinance institution (MFI) to provide microinsurance services to the clients in 1999 and the first to establish an institute, which provides Masteral Degree in Microfinance for those who aim a higher form of quality education in 2005. After the Business Development Services, the CAMIA is the newest addition in its innovation. To date, CARD Inc. proves its leadership once again as it is very proud to announce that it has already taken the risk and its operation has already reached the region where very few MFIs dares to serve – the ARMM region, in addition to its liaison office in Cambodia.

THE BAROMETER OF ASIAN greatness is supposed to be the Ramon Magsaysay Award, the Manila-based recognition that, its organizers lament, is more famous elsewhere in Asian than in its home. Now 50 years old, the RM Awards are considered by a greater part of the Asian population as the ultimate recognition in the continent. Not so much the equivalent of the Nobel Peace Prize as even greater than the Europe-based prize. RM laureates, all 271 of them, including this years eight awardees, have been addressing a wide range of human development issues often amid very adverse circumstances. This years winners are the Philippines Grace Padaca (government service) and the Center for Agriculture and Rural Development.

January 2010

1. Saving Mobilization in Thailand
Savings mobilization is one of mechanisms that various governments apply to further develop their countries without relying too much on external lending. Financial crisis occurred recently has further stressed the significance of savings as a source of capital for at least 3 sectors: individual, financial institution and national economy.
From the individuals’ side, saving facilities are likely to provide more alternative for savers apart from in-kind savings in the form of gold, land and other assets to address unstable and fluctuating income and expenditure. Low savings may lead to financial risk, inflexibility, and inconvenience in one’s individual life.
From the financial institutions’ side, they are likely to use saving facilities to increase their operating fund while from the national economy side, countries are likely to take advantage of high levels of savings to increase the amount of national resources and decrease the need for foreign lending to cover domestic investment and consumption demands.
Thailand has had a high economic growth rate, resulting from three decades of planned economic development, focusing on stimulating higher investment in the country. While Thailand has been enjoying high growth rates, it has also faced high current account deficits. This problem is caused by a shortage of domestic savings. In other words, Thailand is facing an investment-savings gap problem. The domestic savings do not meet the high demand of money required for investment funds.
In order to cope with the above problem, the Thai government has tried to include savings mobilization into the National Economic and Social Development Plan, as it realizes that it is one of key strategies for country development. For instance, in the 8th National Economic and Social Development Plan which covered the years 1997 – 2001, savings mobilization was implemented within the Ministry of Finance’s policies of reducing imported luxury goods, setting up saving cooperatives and a retirement fund, building up rural development capacity though expanding rural development fund and encouraging the savings capacity at community level, and developing economic capacity by building up households savings opportunity as well as introducing savings measure to force citizen to save and develop long-term financial bond.
Bank for Agriculture and Agricultural Cooperatives (BAAC), tried to deal with the high current account deficits by mobilizing savings from the rural sector, especially among small clients.
This paper may benefit readers who would like to learn about the key successes that enabled the Bank for Agriculture and Agricultural Cooperatives (BAAC) to provide savings mobilization products and services. This includes BAAC clients’ savings behavior as well as strategies that BAAC applies in delivering its products.
2. Characteristics of BAAC
The Bank for Agriculture and Agricultural Cooperatives (BAAC) is a specialized government-owned financial institution. It was established in 1966 to enhance agricultural productions through the provision of financial services to farmers. It has steadily developed as a major agricultural financial institution in the rural areas. As of 31 March 2008, BAAC had an extensive rural network of 75 provincial offices and 962 branches, which provide both savings and credit services to farmers. In addition , there were 956 service units scattered in the rural area across the country.
With its efforts to improve financial stability, mainly through an enthusiastic savings mobilization and innovation of demand-oriented financial products, BAAC has been widely recognized as a successful model of a public rural financial institution. It is often cited as one of the few government -owned specialized financial institutions which has mandated lending objectives in a self-financing manner. BAAC development can be traced during four distinct periods, divided by the bank’s source of investment fund as follows:
2.1 First Period (1966 “ 1974) Foundation of the Organization
The BAAC founding period was considered from 1966 “ 1974, which was before the government imposed on commercial bank to provide credit to the agricultural sector. During this period, the main focus of BAAC was on the development of mechanisms and a branch network to provide low-interest credit services to small farmers directly and indirectly though agricultural cooperatives and farmers’ group at national level.
BAAC and other public rural financial institutions share the same value in concentrating its services on low-interest lending with public financial resource. The qualities of loan portfolio and cost effectiveness of the operation were also important concepts of BAAC from the early stage. In addition, what was recognized as BAAC important function to overcome problems of high delivery cost and low repayment rate is the provision of training to its staff and to joint liability groups (JLGs) as well as monitoring and supervision of lending to its clients.

2.2 Second Period (1975 “ 1987) Expansion of Lending Operation
The second stage of the development of BAAC took place during 1975 “ 1987. BAAC’ s operation had steadily developed. Meanwhile, its sources of operating fund came from commercial banks and international agencies. As the government policy, the commercial banks were required to provide agricultural credit or to deposit with BAAC any portions of the quota that they did not lend directly. The quota was initially set at 5 percent in 1975 and increased gradually to 20 percent in 1987. With this privilege, BAAC was able to expand favorably its lending for agricultural investment.
The portion of this obligatory deposit from commercial bank has continued to constitute the largest portion of the operating fund of BAAC throughout this period from 46 percent in 1978 to 31 percent in 1986. Moreover, financial support from international agencies was also considered as important sources during this period. The proportion of borrowing to total operating fund increased from 4 percent in 1975 to 20 percent in 1987.
2.3 Third Period (1989 “ 1996) Striving for Viability and Self-Reliance
During the third period, BAAC emphasized on striving for viability and self-reliance by commencing savings business, improving loan portfolio as well as increasing staff productivity.
In 1989 the Bank of Thailand undertook financial reforms, such as lifting the interest rate ceiling and the removal of restrictions on banks to open their new branches. In addition, the commercial banks broadened their scope of agricultural credit quotas to include all type of rural credit thereby encouraging BAAC to increase its own financial sources.
2.4 Fourth Period (1997 “ present) Adjusting to the Environment After the Financial Crisis and Diversification of Services
In 1997, the Thai economy was hit by the financial crisis,and hence, not only the government and private sectors but also BAAC suffered from the crisis. The Thai baht devaluation and losses in currency exchange caused the increasing of non-performing loans which led BAAC to pay a more attention to prudential regulations, for example, capital adequacy and loan loss provision. Moreover, the repayment rate of loans dropped from 87 percent in 1996 to 75 percent in 1998.
In 1999, the BAAC Act was amended to allow BAAC to lend for non-farm activities in order to open more channels for providing fund to small-scale farmers who have a high portion of their income from non-farm activities.
3. BAAC Operating Fund
At the end of Fiscal Year 2008, BAAC’s operating fund was 686,218 million baht which increased 16.67 percent from the previous year. The sources of operating fund were classified by difference sources. Namely: deposits which stood at 585,907 million baht, or 85.38 percent of total operating fund, borrowings from domestic and oversea sources amounting to 12,566 million baht, or 1.83 percent of the total operating fund, other liabilities amounting to 19,723 million baht, or 2.87 percent of the total operating fund and shareholders’ equity totaled 62,822 million baht accounting for 9.16 percent of the total operating fund.

Figure 3: Sources of BAAC operating fund
4. History of BAAC’s Savings Mobilization Schemes
BAAC has increased its credit operation to various target groups in order to continually develop the rural areas, since its main source of its investment fund is no longer from commercial banks. Therefore, BAAC needs to expand its deposit base in order to meet the credit demand , which is a tough task of the concerned division.
In 1986, the Saving Promotion Section was established to respond to mobilizing deposits in order to support credit provision by coordinating with government agencies and convincing them to deposit with BAAC. This source of fund has a relatively low cost. In 1990, BAAC was restructured and the Saving Promotion Division was established to develop strategies and design deposit products that fit the target customers.
Finally, in 2004 BAAC modified its organizational structure again as well as established the Governmental Saving Unit to deal with mobilizing deposits from the government sector. The Saving Promotion Division was renamed Deposit Business Division.
5. BAAC’s Savings Mobilization
BAAC has successfully mobilized financial resources by strong saving mobilization since 1980. Although the direct motive for the savings mobilization appears to be government policy to enhance the savings, utilizing domestic financial resources is more effectively for the investment. BAAC has developed and provided customer-oriented deposit schemes for farmer clients who need not only credit but also savings services to keep their financial assets in a reliable and easily accessible place. The strong branch network, supported by well trained field staff, and trust fostered by the close relationship between BAAC field staff and farmer clients are the foundation of the rapid expansion of savings services.

Figure 5: Deposit services between Fiscal Year 2004 “ 2008
Since 2004, BAAC’s savings mobilization campaign has noticeably increased, growing from 2004 to 2008 at baht 231,602 or 65.36 percent. The deposit customers are people in general, government offices, state enterprises, farmers, and others.
People in general deposited the biggest amount at 190,260 million Baht or 37 percent, followed by government offices at 179,894 million Baht or 35 percent, farmers at 85,398 million Baht or 17 percent, state enterprises at 30,176 million Baht or 6 percent as well as others at 29,104 or 5 percent.
BAAC offers products and services similar to commercial banks. These products and services ranged from traditional products and services to innovative ones. The products and services are mainly provided for encouraging savings habit of its clients and general public. These products and services are as follows:
5.1 Basic product and services

1. Saving Deposits

Savings deposits are payable at sight upon request. The deposits are exempted from government income tax. Savings deposits pay interest twice each year in late March and late September. Interest is computed daily based on the amount outstanding. A minimum of 50 Baht* is required to open a saving account, with further deposits for any amount. Depositors can withdraw their deposits without any restriction. There are two types of these accounts, one with a passbook and the other without a passbook.

1. Time Deposits

This type of deposit is for a fixed period of 3, 6, 12, 24, 36, 48 and 60 months. Interest is paid at the end of the maturity period. Opening an account and each following deposit requires a minimum of 1,000 Baht*. Time deposit accounts may be with or without passbooks.

1. Current Account

The current account is payable at sight upon presentation of a withdrawal cheque. This type of account pays no interest. To open this account requires a minimum deposit of 10,000 Baht*, further deposits may be for any amount as required. After withdrawal the outstanding deposit must be at least 200 Baht*.

1. Special Saving Deposits

These deposits are payable at sight upon request. The deposits are exempted from government income tax and yield a high return. Interest is paid twice each year in late March and late September. The first deposit requires a minimum of 10,000 Baht*. Each further deposit and withdrawal must be for at least 1,000 Baht*. Depositors can withdraw their deposit once a month free of charge. For additional withdrawals the depositor will be charged 1 percent of the amount withdrawn but at least 500 Baht*. The outstanding balance must be at least 1,000 Baht*, otherwise the interest paid will be reduced to the normal savings deposit rate.

Figure 4.1: BAAC’s savings mobilization structure
5.2 Innovative product and services
The BAAC authority and function are to provide financial assistance for the agricultural sector, both through credit provision and savings facility in order to build up financial security and lift up the farmers’ quality of life. Therefore, BAAC has designed savings facilities to fulfill its mission in reducing farmers’ financial risk as well as mobilize fund for credit provision purpose.
Recently, there is a high competition in the financial market. Commercial banks are likely to struggle for capturing the market share of deposits as this fund has the lowest cost. For the same reason, BAAC tries hard to defeat the competitors by researching and developing innovative products to attract customers.
BAAC innovative products range from products for specific group to products for general clients. Those products include Thaweesuk Fund, Om Sap Taweechoke Savings Deposits, Om Sap Taweesin Savings Certificate Deposits, Permsub Savings Certificate Deposits, Savings for Retirement, Advance Interest Savings, School Banking
5.2.1 Thaweesuk Fund
Target Group
BAAC farmer clients in rural areas
Background
Although farming is one of the most important careers that feed the world population, in Thailand, farmers are at the lowest step of the economic ladder and suffer from unstable income.
Therefore, the concept of Thaweesuk Fund was to encourage BAAC farmer clients to develop immunity for sustainable life by saving fund for their retirement age as well as to strengthen stability of the economy base by providing financial risk management.

Characteristics
BAAC farmer clients , aged between 20 and 55 years old are encouraged to deposit with BAAC at amount of 1,200 Baht per month or 12,000 Baht for at least one year.
After the clients reach 65 year of age, they will receive the principal with special tax-free interest rate as well as the principal and interest compounded twice a year. For BAAC, credit clients will receive additional money at 0.75 percent.
In addition, clients can also use this deposit as collateral for borrowing from BAAC as well as receiving life insurance and healthcare budget and pension fund incase they are unable to work. Moreover, they will receive a œwelcome new born  money for the first two child delivered.
Key Successes
Security: BAAC is perceived as a secure financial institution as it is a state enterprise, where the Ministry of Finance holds the share up to 99.84 percent
Convenience: BAAC has 75 provincial offices, 962 branches, and 956 service units in every corner of the country.
Yield: Tax-free special interest rate with principal and interest compounded twice a year as well as other benefits.

4.2.1 Om Sap Taweechoke Savings Deposit
Target Group
This product is designed to attract low-income market especially in rural area
Background
In 1995, the BAAC Saving Promotion Division, with technical assistance of GTZ Microfinance Linkage Project, conducted a research on the needs of micro and small savers particularly women in Thailand.
After successful pilot-testing in selected branches, the innovative saving product called œOm Sap Taweechock  or Om Sap Taweechock Savings Deposit was launched nationwide in early 1996.
Characteristic
The minimum opening deposit is easy to afford which is only 50 Baht* and the account holder is entitled to participate in semi-annual drawing parties. The winners are offered goods, for example, motor car, motorbike, gold, refrigerator, television, and radio as prizes based on their lucky draws each year additionally from earning interests.
The prizes are drawn once every six months at the regional level and once a year at national level. To be eligible for each draw, accounts must have a balance of at least 2,000 Baht* over the preceding three month.
Depositors will have an additional prize-drawing card for each additional 2,000 Baht* of their deposits. Besides those prizes, depositors will receive 0.50 percent of interest rate (as of 31 March 2008). Although the interest rate paid on deposit is slightly below the standard rate BAAC pays for savings account, it is found very popular in the rural areas.
By June 2007, Om Sap Thawi Chocke attracted more than 3.6 million depositors with an average deposit of 6,200 Baht per accountholder.
Key Successes
Security: BAAC is a secure financial institution as the Ministry of Finance holds the share up to 99.84 percent
Convenience: BAAC has a branch network located across the country, even in remote areas
Minimum balance: The product requires low minimum balance, with only 50 baht* to open an account.
Liquidity: Depositors can withdraw anytime as long as the minimum balance is maintained
Yield: Apart from 0.50 percent of interest rate, depositors have a chance to participate in the drawing of prizes

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Ironically, it was the devastating Typhoon Rosing in 1997 that compelled Bine to pursue her dream of having her own house and lot. They used to live with her parents, investing her loans in a variety store and a small room for her family. Hindi ko malilimutan yong pangyayari dahil sa bagyong Rosing naapektuhan ang proyekto ko at nasaktan pa ang aking mag-aama. CARD ang tumulong sa amin para makaahon, nakahiram ako ng housing loan at paunti-unting nakahulog ng bahay at lote. Kung kapisan pa kami sa aming mga magulang, hindi sana kami natutong tumayo sa sariling paa. (I will never forget that because of Typhoon Rosing , my project was wiped out and my family was injured. It was CARD which helped us recover: with my housing loan, I was able to put up installments for a house and lot. If we were still staying with my parents, we would never have learned to stand on our own feet.) She bought a jeepney with her CLAP loan, so that her husband could continue to earn from driving. Eventually, they sold the jeepney to fully pay the lot and improve their house.

As an individual borrower, she was able to obtain a loan of P160,000. She used it to put up a rice retailing business. She gets 15 sacks of rice per week at P1,050 per sack and sells them to neighbors and CARD staff on installment with a hefty profit. She is also engaged in hog breeding and fattening, a project she has maintained since she got her first loan. She values the credit disciple that CARD taught her, and appreciates the fact that even without collateral, they are able to access large loan amount: Hindi ako magiging individual borrower kung hindi ako nagbayad ng maayos at kung sinira ang tiwala ng CARD sa akin. Yan ang aking natutunan: disiplina sa sarili sa paggamit ng hiniram at pagbabayad sa tamang oras. Hindi ko rin akalaing makakahiram ako ng malaking pera na walang collateral. Walang taong magtitiwala sa aming mahihirap ng ganitong kalaking pera. (I would not have graduated into an individual borrower had I not paid my loans diligently and if I lost the trust CARD placed on me. That’s what I learned: self-discipline in using the loans and paying back on time. Before CARD came, it never occurred to me that I would be able to borrow large sums without collateral. Nobody would have trusted us poor people with as large amounts as CARD does!

This 40-year old mother is also one of the stockholders of CARD Bank. She readily admits that receiving a dividend on her P16,000 equity brings her pride and joy: Masaya ako kasi dati ang tawag sa amin ay mga mangungutang lamang pero ngayon ay isa na sa may-ari ng bangko. (I am happy because in the past, we were referred to merely as borrowers but now, we are one of the bank owners !).

Aside from her entrepreneurial savvy, Bine is known for her culinary talent. It was honed at the CARD Training Center, when she started as part-time chef when there were in-house training for the staff. She applies her business sense to her job, saying If I turn out inexpensive but nutritious and delicious meals, trainees will reflect that in their evaluation, or visitors will complement me; in turn, CARD will always seek my services.. She got her desired customer loyalty even as with CARD Training Center’s growing clientele, her services is in constant demand. For a 12-hour working day, she earns about P570. Not only does her wage helps in her repayment, it also enables her to fill up her home with the appliances that she so desires. Bine mused that her situation in life would have been different without CARD, Siguro plain house wife ako at nasa bahay lang, hindi makakaisip maghanapbuhay. Hindi ako makakapagpaaral ng mga anak. Hindi rin kami magkakaroon ng sariling lupa at bahay at hindi matututong magsavings. (Perhaps, I would have remained a plain housewife, staying at home, and not thinking how to earn a living. I would not have been able to educate my children. Too, we would not have our own house and lot nor learned how to save.)

Bine’s future is full of plans and dreams. She would again borrow P160,000 from CARD to buy a brand-new passenger jeepney for her husband, build a welding shop for her son and continue her business in rice retailing. She would send her daughter to college because her two sons would rather work than study. Lastly, she dreams of becoming a regular staff of CARD as its chef.

CARD likes the idea of its clients growing with it. So who knows?

- date published: July 2003

Aniceta R. Alip, Lourdes A. Medina and Lester De Leon

Na Doring, at 57, sees retirement as far way off. Not now when she has all the chances to grow her many businesses in a big way as one of CARD Bank’s individual borrowers. Having been a pioneer of CARD’s solidarity group lending when her center was still part of the CARD NGO, she considers being able to give her children a decent education as the greatest benefit of her CARD membership. Four of her 8 children are pursuing college degrees. Her youngest does not have the aptitude to go to school, but he still benefits from her loans: she bought him a horse that he uses in transporting coconut and other agricultural produce from the farm to the lowland as his source of income. He also plans to take driving lessons so he can drive one of their jeepneys in the future, also partly paid by her mother’s loans.

Na Doring is an excellent seamstress. Thus it was natural that her first loan was used to buy sewing supplies and materials such as threads, needles, and a few pieces of fabric. She would save up her customers’ payments and on Fridays go to the Triumph warehouse to buy scraps which she sew into brassieres. Nothing would be wasted even as she would put together the smallest leftover fabrics to make pillow cases. As her surplus grew, she turned out ready-to-wear clothes and sold these on installment in her community. Na Doring claims that she knew nothing about doing business before she got married. Faced with the growing needs of a large family, she looked for ways to capitalize her skills in making clothes. Roaming the village with her RTWs people would ask her if she would care to sell them other items.That got her started on buying and selling of appliances, Tupperware products, and even fresh and processed meats. As she developed her entrepreneurial savvy, she kept an eye for business opportunities. FFor instance, she noted how cheap it was to buy mangoes right in her townmates’ farms during summers. In a good morning, she could easily sell 3 kaing of mangoes. Bought at P250 and sold for P500-P600 in the town or in nearby Lucena market, trading in mangoes became a regular income earner for her.

The Holy Week also offers Na Doring extra income, even as pilgrims flock to the mystical Kinabuhayan mountain, at the foot of which is her hometown of Dolores. She would buy dried fish in bulk in Manila and sold them at a hefty profit. “ I would always calculate in my mind how much I would make if I engage in a venture. With 10 children to clothe, feed and educate, I had to be always businesslike,” explained Na Doring.

If there was one thing Na Doring is so passionate about, it was the value of education. “Poor people like us have nothing to pass on to our children that would secure a better future for them. The only legacy we can give them is education.” Her children imbibed this value, and went to great lengths to help their mother send them to school. Na Doring related how her children would deliver the brassieres to customers before going to school, and the customers would pay right away because they knew her children needed the money for school.

Even putting enough food on the table was a struggle then. “My children learned to be creative, resorting to culinary tactics. A can of sardines would feed 12 of us, even as they learned to plant and scour the garden for extenders, like camote tops. My eldest daughter had only eggs and rice in her lunch box almost everyday while she was finishing her college degree, and I would advise her not to befriend rich people because we were poor,” Na Doring tearfully recalled. The next moment, her face lit with pride, as she told us how this daughter is now earning big money abroad, having graduated from a topnotch private school in San Pablo. “ People now gives me a nod or a smile. I guess they think we are now well off because I can send four children to college all at the same time.”

With her third loan (P8,000), she bought her husband a horse to transport agricultural produce from the farm to the lowland. She added two electric sewing machines from her earnings and hired two women to work on them. Since both were just learning to sew, she tried her best to teach them almost all she knew including the techniques that attract most of her customers. Unfortunately, when the two had learned a lot, they left Na Doring and sought employment in a garments factory. “My children advised me not to take other people into the business again. Kami-kami na lang daw ang magtulungan”. Two of her sons learned to sew. “I was content if we earned P200 in a day.”

Her fourth loan bought her a cow which she fattened and sold to buy another. Today, there are three cows tethered in their barn. Her good repayment record enabled her to obtain a fifth loan of P50,000, with which she purchased a second hand jeepney. The vehicle is driven by one of her married son, plying the Dolores, Tiaong and San Pablo routes. Her weekly amortization then was P1,200, which was easily covered by the jeepney’s earnings, with some to spare for her son’s family.

She was on her 6th loan when her businesses thrived. With her own savings, she expanded her sewing business by making curtains and seat covers . She also started her appliance and plastic ware business. When CARD introduced its CLAP product, Na Doring was the very first CLAP loanee in her branch. With her P110,000, she acquired another second hand jeepney for public transport in Lucena City. It was also at this time that her husband, who was assisting a surveyor in Lucena, was able to reserve three parcels of lot (90 sq. m. each) on his name. Na Doring took advantage of the opportunity and started paying the lot with her earnings from her businesses.

When CARD started piloting the Individual Loan scheme in October 2000, Na Doring qualified. She was unfazed to apply for the maximum loan ceiling, knowing that she had acquired credit discipline (she has never called on her center to help her repay her loan, and never dipped into her capital to buy inconsequential things). With her net loan value of P100,000, she put up a bakery in Lucena. However, the bakery lasted for only a year. She said it was a good business but not as profitable as she expected. She learned that one should know everything about the production aspect, otherwise it would be difficult to monitor the hired workers. “A tray of bread would be inadvertently burned, and it would take me three days to recoup the loss. You never know if you are being short-changed or not.” Not one to allow her investment to go down the drain, Na Doring thought of ways to make money out of the failed bakery business: she now rents out the bakery equipment and the space is now being renovated into residential space for rent.

Her current loan of P160,000 saw Na Doring into a joint venture with her son-in-law. They contract mango plantation owners to have their trees sprayed with flowering hormones. Judging from her track record, this promises to be another money maker for the indefatigable Na Doring. From her gross earning of P50,000, she has no problem meeting the P16,400 monthly amortization.

Did “graduating” into individual borrower made any difference in her business? Na Doring’s reply was prompt, “It is now so easy for me to get a loan. If I filed my proposal today and the signatories to the check are all available, I will go out of the Bank with the money. I feel good that I am treated that way. I am not afraid to borrow because I know that I hold the key to its continued availment: using my loans wisely and not turning away from the responsibility of paying them back. “ She also paid tribute to the support that her family is constantly extending to her. “Before I take out a loan, our family holds a meeting. I am aware that not all ventures will turn out well; there are factors that are beyond my control. If it happens, I want their assurance that they will be there to help me out. Afterall, it is the whole family that enjoys the benefits of CARD’s assistance. It is only right that the whole family also face up to the attendant obligations.”

Postscript: We visited Na Doring a year later in March 2003. While she is qualified for a bigger loan, she only accessed P80,000 this time “because I still have enough revolving fund and lots of stocks (she places the value of her Tupperware items at P300,000). She is now concentrating on her appliance business: people would place order for TV set, washing machine, refrigerator, or VCD player and arrange to pay it on installment. Ever the entrepreneur, Aling Doring responds to her customers’ preferences, offering flexible terms that fit their cash flow (“people prefers 3-4 months, saying 6 months is too long.”) When not delivering her products, Na Doring would visit her bakery-turned-apartment in Lucena, where she has a room. These are not idle times for Na Doring – she would bring cloths for sewing, and when my neighbors hear the whir of my machine, one by one they would bring their clothes for repair, curtains for sewing, Two of her offsprings are now working, one as a cashier, another as a teacher. She is now on her 13th loan but still sews when she goes to their house in Lucena. •

- date published: July 2003