CARD Bank, Inc.’s origin can be traced from the Center for Agriculture and Rural Development, Inc. (CARD, Inc.), which was organized on December 10, 1986 by a group of 15 rural development practitioners as a social development foundation through responsible financial services.

CARD spent considerable time in refining its operation using modified Grameen Bank methodology in 1989, with the end view of achieving the twin goals of outreach and sustainability. Within a decade, CARD has successfully formalized its micro lending operations by transforming itself into a formal financial institution.

In 1997, CARD Inc. obtained its license from Bangko Sentral ng Pilipinas as a microfinance-oriented rural bank. Then on September 1, 1997, the CARD Bank, Inc. opened its door to the public in San Pablo City subsuming four CARD Inc. branches.

In addition, CARD Bank, Inc. became a member of the group known as the CARD Mutually Reinforcing Institutions (CARD MRI) that aims to provide the poor with diverse financial and non-financial services.

Inspired by its vision, CARD Bank, Inc.’s ownership was shared among clients on February 14, 2000. From then on, members can buy shares of stocks through transfer of their compulsory savings as payment for shares of stocks.

Dr. Jaime Aristotle B. Alip, CARD MRI Founder and Managing Director, fully supported clients’ ownership of CARD Bank, Inc. by saying, “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.”

CARD Bank, Inc. continues to improve the quality of products and services to better serve its ever-growing number of clients. Currently, it has 55 branches across the country serving more than 900,000 clients. In years to come, CARD Bank, Inc. plans to expand and to open more branches in all regions of the Philippines reaching out to millions of clients.