Saving to rebuild lives

Only about three months after Typhoon Yolanda (Haiyan) devastated the province of Leyte, CARD Bank, Inc. held its first ever savings caravan in Tacloban City. This event is just one of CARD Bank’s several efforts to educate the poor on the importance of saving. But for almost 600 CARD members who trooped to the Leyte National High School Gymnasium, the caravan was a brief respite from their daily struggle in bringing a sense of normalcy to their lives and that of their families.

Ms. Glenda Magpantay, CARD Bank’s AVP for Operations, led the discussion on the importance of saving in rebuilding the lives of the members and ensuring that they will be better prepared for similar catastrophes in the future. The discussion turned in positive feedback from the participants. According to Myla Alcaraz, a three year member of CARD Bank, in Tagalog: “When disaster happens, you can withdraw your savings to rebuild your life”. Another member, Grace also said in Tagalog: “I used my savings as capital for recovery; I started selling charcoal and plan to build my home”.

CARD Bank’s different savings products and its basic features were presented as options that members can choose from based on their savings goal and financial capability. A “Maagap Starter Kit” was also offered for only P20. This came with a coin bank, a savings calendar and a special freebie to entice parents and kids to open a Maagap account in a month’s time or less.

A puppet show with the theme of hope and resilience also boosted the spirits of those who attended the caravan. Doctors also attended the event to offer free check-up of members and their families, while medicine kits were distributed to the caravan participants who came in early.

While some families opted to move out of Leyte, most CARD Bank members reconstructed their homes and found the means to sustain their livelihood through savings. Allotting a few pesos to save may still be difficult for the people of Leyte and other parts of Visayas who are still struggling to make ends meet. But starting a formal saving mechanism, no matter how small, increases the likelihood of a better and more secured future for the Yolanda survivors and their families.