CARD MRI group reaches 6.2 million clients, insures 23.6 million Filipinos nationwide

The 21 development-oriented institutions under CARD Mutually Reinforcing Institutions (CARD MRI) marked the year 2018 with more than 6.2 million clients reached nationwide, insuring more than 23.6 million individuals through its microfinance, microinsurance, and community development programs.

“These numbers are part of our commitment to eradicate poverty in the Philippines. It is also inspiring to note that the insured individuals of CARD MRI cover at least 23% of the total population of our country,” said Flordeliza L. Sarmiento, managing director of CARD MRI.

According to Sarmiento, 2018 was challenging to everyone at CARD MRI, especially for the financial institutions and microinsurance group due to the several typhoons and disasters were faced by the Philippines. “The safety and security of our clients are our top priorities. So, we organized strategic interventions and partnered with organizations that we can work with in making sure that everyone is not left behind,” she added.

When Boracay was also under rehabilitation, the CARD MRI group adjusted its sails to be able to provide development support that are relevant to its growing clients in the island.

“With all of these challenges, we are glad to have made it through because of the continuous support of our clients, staff, and partners. We were also able to realize a lot of lessons especially in responding quickly to things that are uncertain,” emphasized Sarmiento.

CARD MRI in 2019

CARD MRI is close to achieving its 5-8-40 strategic direction where in five years starting 2016, eight million clients will be reached and 40 million individuals will be insured by CARD MRI group. “We have reached more than what we hoped for in 2018. This year, we want to aspire more,” shared Sarmiento.

In terms of expansion and outreach, the three banking institutions of CARD MRI were approved by the Bangko Sentral ng Pilipinas (BSP) to open 36 branch-lite units (BLUs) nationwide under CARD Bank, 17 BLUs under CARD SME Bank Inc., and 16 BLUs under CARD MRI Rizal Bank. The BLUs are apart from the branches the banks will also open this year. The BLU promotes greater access to efficient and competitive banking services among potential clients in the rural and urban areas.

The microfinance NGO of CARD MRI, the CARD, Inc., is also set to open more unit offices focusing the areas where access to financial services is limited or expensive. Moreover, CARD, Inc. was approved by the Bangko Sentral ng Pilipinas (BSP) to become a remittance agent.

“This is another milestone in CARD, Inc.’s operation. We are happy because we can now provide remittance services to all Filipinos given our extensive operations nationwide,” said Jocelyn Dequito, executive director of CARD, Inc.

CARD, Inc. can now provide remittance services in partnership with licensed remittance agents like CARD Bank, which provides CARD Sulit Padala. The CARD Sulit Padala is an in-house domestic remittance service of CARD where its clients can enjoy sending or receiving money from any CARD, Inc., CARD Bank, CARD SME Bank, and CARD MRI Rizal Bank branches nationwide.

“CARD continues to focus its expansion this year to unbanked rural areas and island towns to ensure that those hard to reach communities are given the access to financial and community development services,” said Sarmiento.

The use of advanced technologies and digital banking platforms are also prioritized by CARD this year so as to serve its clients best “The efficiency and effectiveness of our services are the result of us being open and embracing the new challenges that the modern world brings,” she added.

CARD MRI is an institution that welcomes innovation. Two of its major milestones on its digitalization journey are the creation of konek2CARD mobile application and Digital Cash Machine (DCM). These services allowed CARD clients to do banking transaction without going to actual banks and withdrawing cash from DCM with just a tap from client’s smart phone.

“As one family, our only hope is to give a bright future for our members. We are thankful because for 32 years now, the family we established continues to grow and reap inspiring success. My challenge to everyone is to love our country by supporting and celebrating local creations made by our microentrepreneurs,” concluded Dr. Jaime Aristotle B. Alip, founder and chair emeritus of CARD MRI.