Media practitioners undergo study tour on microfinance

Eight media practitioners from Baguio City and Baler, Aurora experienced the actual implementation of microfinance program of CARD Mutually Reinforcing Institutions (CARD MRI) through a study stour conducted on April 4-5, 2019 in Baler, Aurora.

Microfinance, as defined by the Consultative Group to Assist the Poorest (CGAP), is a provision of financial services such as loans and savings to low-income households.

According to Flordeliza L. Sarmiento, CARD MRI managing director, microfinance is one of their group’s key initiatives in eradicating poverty in the country.

CARD MRI, established in 1986 in San Pablo City, Laguna, is one of the pioneer microfinance institutions in the Philippines. “We started with only P20 and an old battered typewriter armed with passion and commitment to serve Filipino families move out from poverty,” recalled Sarmiento.

Sarmiento also said that beyond the traditional definition of microfinance, CARD MRI is reinventing itself. “CARD MRI is not a microfinance institution per se. We are a group of 21 social development-oriented institutions that are in the business of poverty eradication,” she added.

To achieve this, CARD MRI started implementing programs that are social development in approach ranging from health, education, disaster management, livelihood training, and other capacity building programs.

“Microfinance, backed up with various community development programs, makes it more strategic in eradicating poverty,” said Sarmiento.

The study tour

Back then, according to CARD MRI Publishing House Manager Cyrene Grace Lubigan, people tend to equate microfinance as an institution that merely lends money to the poor with high interest rates and demanding loan policies.

“In response to this misleading impression about microfinance, we at CARD MRI decided to organize a study tour on microfinance specifically to media practitioners considering their significant role in shaping the minds of the public through the stories they air or publish,” she added.

The study tour allows participants to attend CARD MRI’s center meeting, visit successful microfinance clients and Kaunlaran Caravan, and interview key management staff of the institution.

Conducting center meeting is one of the unique strategies of CARD MRI especially in realizing its goal of empowering communities. “At the center meeting, we gather our clients weekly and discuss relevant matters through Credit with Education (CwE) to help our clients become knowledgeable especially in handling their finances, among others,” said Lubigan.

Moreover, the centers are organized and managed by its clients. “We train our clients to lead their own center. They are already empowered. Our role is to support them with whatever they need for their family and their community,” she added.

“It’s my first time to attend a study tour, and I am very happy to witness the development efforts of CARD MRI. I saw how CARD is effectively implementing its programs for the poor,” said Elias Garcia, News Photographer at Amianan Balita Ngayon.

After the center meeting, participants went to Baler Municipal Covered Court to observe the implementation of the community development programs of CARD MRI through Kaunlaran Caravan.

The Kaunlaran Caravan is conducted by CARD MRI to showcase its community-based development programs. Among the programs are Community Health Day (CHD) that includes medical, dental, and optical services, orientation on Family Planning, microinsurance and Social Security System (SSS), and financial literacy session for kids.

One of the highlights of the Kaunlaran Caravan was the launching of Ang Magic Alkansya ni Carding, a financial literacy storybook published by CARD MRI Publishing House.

A media briefing was then hosted by CARD MRI where media participants were able to ask questions to CARD MRI management. The managing director of CARD MRI, Flordeliza L. Sarmiento, was present at the briefing.

“The one day tour we spent here is worth it, and we really enjoyed the Lakbay Aral. We learned new things about what CARD MRI offers to its clients,” said Wilfredo Rolluda, Chief Reporter at Eagle Broadcasting Company- Net25.

Aside from learning about microfinance, participants also grabbed the chance to explore Baler. “Of course, CARD MRI allowed us to experience the beauty of the province. Thanks to the tour, we were able to enjoy fresh seafoods that Baler is best known for,” added Rolluda.

To date, CARD MRI has organized 11 Lakbay Aral for media since 2013. CARD MRI is looking forward to invite more media groups in the future study tour.