CARD MRI release P115M disaster aid in 2018

The CARD Mutually Reinforcing Institutions (CARD MRI) through its microinsurance arm CARD Mutual Benefit Association (CARD MBA) released a total of P115 million worth of relief assistance and claims to its disaster-affected clients nationwide in 2018.

In support to the Association’s allocated fund for disaster relief assistance program, the four major institutions of CARD MRI namely Center for Agriculture and Rural Development (CARD), Inc., CARD Bank, CARD SME Bank, and CARD MRI Rizal Bank also shelled out 53.8% or P61.9 million of the total aid for the year.

The financial institutions of CARD, aside from being mandated to provide financial services to socioeconomically challenged communities, are also dedicated in supporting its clients in terms of community development programs such as disaster, health, education, and livelihood, among others.

“As a social development-oriented group of companies, CARD MRI is not just merely doing microfinance or microinsurance per se. CARD MRI is in the business of poverty eradication,” said Flordeliza L. Sarmiento, managing director of CARD MRI.

By eradicating poverty means providing financial and non-financial services tailored fit to the changing needs of its growing clients.

Disaster management practice

“Days before every typhoon enter the Philippine Area of Responsibility our operations staff on the field are already gathering and repacking relief goods for our clients. That is why right after the typhoon, immediate response is made,” said Sarmiento.

According to Sarmiento, during the recent typhoon Usman, they were able to disbursed and send relief assistance and claims immediately to more than 108,700 families amounting to P32,854,007.76. “Thanks to our staff and management who managed to go on field during holiday season just to ensure that our relief operations are in place,” added Sarmiento.

To ensure that the distribution of relief goods and validation of claims are steady, the managing director herself visited the areas of Bicol region to see the state and condition of every member and their respective family. “My visit was also to ensure that no one among our clients is neglected with relief and financial assistance,” added Sarmiento.

Several volunteers especially CARD clients within the affected areas are also taking part in the repacking and distribution of relief goods of CARD MRI. “I am truly inspired by how everyone at CARD shows family spirit. Instead of having holiday vacations or the regular weekend breaks, our staff, management, and clients chose to spend their time extending support to typhoon-affected families,” said Dr. Jaime Aristotle B. Alip, founder and chair emeritus of CARD MRI.

All the clients of the four financial institutions of CARD MRI are entitled with microinsurance benefit through CARD Mutual Benefit Association (CARD MBA). Hence, every disaster-affected client is assured with safety nets such as claims and other financial and non-financial assistance.

CARD MRI is a group of 21 development organizations including the four major institutions and CARD MBA, which all aim to provide microfinance and community development services to eradicate poverty in the country.