CARD Bank eyes opening three more Mindanao branches in 2017

CARD Bank, Inc. is set to open three more branches in Malita, Davao del Sur, Midsayap, North Cotabato, and Nabunturan, Compostella Valley on the first and second quarter this year.

CARD Bank opened its first Mindanao branch in Davao City at Magallanes Street in 2007. As of December 2016, the bank has eight branches covering the areas of Davao City, Davao del Sur, Cotabato, Davao del Norte, Davao Oriental.

“The expansion of CARD Bank in Mindanao is part of enriching and empowering the marginalized sectors of society,” President and CEO Marivic Austria said.

Microfinance and developmental services

Austria added that the bank will provide its clients wide range of financial services such as loans for business, agriculture, housing, solar, education, and health.

Savings account for members and their kids are also available. The bank also offers domestic and international remittances.

The bank also links its client to various developmental services such as access to microinsurance, business development services and marketing support, education support, and health protection services. This is through the assistance of the microinsurance and business development arms of CARD Mutually Reinforcing Institutions (CARD MRI) where CARD Bank is a member institution.

Vehicle for asset ownership

Since 1986, CARD MRI, where CARD Bank is a member institution, has been strong and committed in empowering the lives of the socioeconomically challenged women and their families by establishing a bank owned by the members.

“Impossible as it may seem but because of the strong dedication of my colleagues and the constant support of our stakeholders, we were able to realize our dream,” Dr. Jaime Aristotle B. Alip, founder and managing director of CARD MRI, said.

In 2000, CARD Bank opened its doors to its clients who wanted to be part-owner of the bank. These members can buy shares of stocks of CARD Bank, Inc. through their savings.

“As stockholders, they are receiving annual dividends. To emphasize participation by the members in the policy formulation and governance, selected members sit as Board of Directors of the bank,” Austria said.

Pascuala Geñoso, CARD member for more than eleven years now and one of the Board of Directors of CARD Bank, thanked the institution for giving her the opportunity to become part of the respected bank.

“Never in my wildest dream did I think of becoming part of the board. It is overwhelming and I feel that it is a big responsibility for me because I will be representing my co-members,” Geñoso said.