CARD Banking Group, Six Time BSP Outstanding Financial Inclusion Awardee

CARD, Inc., one of the institutions of CARD Mutually Reinforcing Institutions (CARD MRI), received a Gawad MFI award from the Land Bank of the Philippines (LBP) for having an outstanding performance in serving and providing essential programs to socio-economically challenged families.

Land Bank handed the award in a simple celebration on September 2, 2016 at CARD MRI office in M.L. Quezon St, City Subdivision, San Pablo City, Laguna.

Gawad MFI was launched to recognize LBP partners in supporting financial inclusion and economic stability by providing microfinance loans to its members.

CARD, Inc. provides basic financial assistance by offering loans to micro and small businesses and giving its clients the opportunity to save and build up their own capital. Meanwhile, LBP provides retail financing to Microfinance Institutions (MFIs) through a credit line facility (an amount of credit extended to a borrower).

First Vice President Southern Luzon Lending Group Ms. Filipina B. Monje, together with Department Manager Mr. Alex Hinojosa and Account Officer from Land Bank of the Philippines Ms. Raquel Bunzo, presented the award to CARD, Inc. Deputy Executive Director for Finance and Admin Ms. Jocelyn D. Dequito, Deputy Executive Director for Operations Mr. Vicente P. Briones, Senior Operations Director Ms. Juliana B. De Leon, Finance Director Ms. Lousel E. Cortes, and Deputy Director – Treasury Ms. Marie Sharon D. Roxas. LBP San Pablo Branch Department Manager Ms. Marcelina U. Babaan was also present during the event.

Eligible participating MFI are microfinance cooperatives and non-government organizations with performance period covering the past five years of microfinance operation.

In 2014, CARD Bank, another institution of CARD MRI, was also awarded as the most outstanding rural bank in the national category and the Best CFI Availer of Agri-Agra Loans.  This year, CARD, Inc. was awarded the Most Outstanding MFI at the Regional Level.

In an interview, CARD, Inc. President and Executive Director Flordeliza Sarmiento said, “We thank Land Bank for this recognition. Awards like this will inspire us to help more socio- economically challenged families.”

CARD, Inc. is now serving 1,329,209 clients. It is continuously expanding in more remote areas in the country.