CARD Bank opens 71st branch in Boracay

CARD Bank, Inc., a member institution of social development organization, CARD Mutually Reinforcing Institutions (CARD MRI), is now ready to provide more banking services in Boracay by opening its 71^st bank branch here on Monday, May 23, 2016.<.>

“This is not actually the first time that CARD Bank’s presence will be felt in Boracay, it has already a micro banking office since 2007 that caters to the microfinancing needs of the residents here,” said Ms. Marivic Austria, CARD Bank President and CEO adding that the bank will provide more accessible banking services. She also promised that aside from financial services, a comprehensive community service together with the other institutions of CARD MRI will be provided for all members in Boracay and nearby towns.

Bringing the banking services of CARD Bank closer to the micro-entrepreneurs and residents of Boracay is in line with its mission of making Filipino families to be co-owners of the bank.

Dr. Dolores Torres, Senior Adviser and Vice Chairperson of CARD Bank said, “The residents here are given more opportunities to be stockholders of CARD Bank because it is now closer.” She added that the children of CARD Bank members will be the next in line as stockholders.  At a young age, they are given financial literacy through its CARDEEskwela conducted in selected areas nationwide to prepare its savers, particularly children six to 12 years old, for their future.

Lany Pladin, CARD Bank member for eight years and currently a stockholder said she feels proud now that CARD Bank opened a branch in Boracay. As a stockholder, she is an owner of the bank and receives additional benefits like dividends and freebies given yearly by CARD Bank. She also encouraged most of her family members to join CARD Bank to receive the same benefits she is receiving.

Before the bank branch in Boracay was opened, its members have to travel two to three hours to the nearest CARD Bank Branch in Culasi to do transactions such as large savings withdrawal.

The grand opening of the bank was well attended by the executive and management committee of CARD Bank and other institutions of CARD MRI as well as members in Boracay. Its branch staff were introduced during the event and bank transactions immediately started after the program to serve the numerous clients lining up to open new accounts.

About 10,500 members from CARD Bank Culasi branch who are residents of Malay, Nabas, Ibajay, Caticlan, Boracay and San Jose Romblon can now transact in its Boracay Branch making transactions faster and giving more time for member microentreprenuers to attend to their businesses.

All eight CARD Bank branches in the Panay Island located in Iloilo, Roxas, Miag-ao, Passi, Estancia, San Jose Antique, Culasi, and Boracay are now serving more than 180,000 clients. CARD Bank operates nationwide and has a total of about 1.8 million clients who are savers and borrowers.

Dr. Jaime Aristiotle B. Alip, founder and managing director of CARD MRI envisions a poverty-free country through financial inclusive programs and services implemented with sustainable community development programs. CARD MRI, with about 3.5 million members nationwide plans to reach eight million clients in the next five years insuring 40 million individuals through its insurance companies.