With its goal to provide financial access to socioeconomically challenged Filipinos, CARD Bank opens its first branch this year in 389 M.L. Quezon St. Brgy. Gregorio Loreto Sr., Baybay City, Leyte on March 20, 2017.
“CARD Bank is pleased to open and provide financial services to Baybay and its adjacent communities. As a Microfinance Oriented Rural Bank, we are here to continuously give access to every family our financial and non-financial services”. Ms. Lorenza dT. Bañez, executive vice president of CARD Bank, said.
Continuous Access to Financially Inclusive Services
“We believe that we are here to serve and eventually eradicate poverty. We want to help the women have an access to financially inclusive services and yet have a better family income”, Bañez said.
CARD Bank is a microfinance-oriented rural bank catering to the needs of more than two million unserved and underserved families in the country. It gives micro loans, savings products and remittance services that would help its clients improve their lives.
We would like our clients to enjoy the best banking services that we could offer. Thus, we also offer transfer of ownership of capital to qualified members whereby member can buy shares of stocks through transfer of their compulsory savings as payment for shares of stocks. In return, stockholders can receive annual dividends. In addition, to emphasize participation by the clients in the policy formulation and governance, clients sit on the Board of Directors of CARD Bank”, Bañez added.
CARD Bank provides financial literacy to its clients. Bañez also shared that they wanted to improve the lives of their clients not only through financial products but also through financial education. The banking institution delivers Credit with Education (CwE) to help its clients make efficient investments in health, education, or in income-generating activities.
“We believe that education plays an important role to raise economic and social development in our clients,” Bañez shared.
CARD Bank and poverty eradication
The Baybay branch has an initial 1,000 transferred clients from CARD, Inc., a microfinance NGO and a member a member institution of CARD Mutually Reinforcing Institutions (CARD MRI). Through the help of other institutions under CARD MRI, where CARD Bank is also a member, it provides microinsurance products, health, education, livelihood, and other capacity-building programs.
“We provide a holistic approach for the social and economic development of our clients. We always dream for a zero poverty country,” Bañez said.
Allyn B. Soller shared her experience with CARD, “CARD provides a lot of benefits to my family. Through CARD, I was able to send my two children to college who are now professionals. My youngest child is also a CARD scholar and I am also a stockholder of CARD
Bank.” She advises her co-members to build the right character, have discipline and sense of responsibility as a member of CARD for them to succeed on their business.
Photo Gallery of CARD Bank Baybay Branch Opening