CARD Mutually Benefit Association (CARD MBA), the microinsurance provider of the four financial institutions of CARD Mutually Reinforcing Institutions (CARD MRI), opened its 63rd provincial office in Roque St., Centro West, Santiago City, Isabela on June 25, 2019.
The provincial office in Isabela is expected to serve more than 75,000 microfinance clients of CARD Inc. and CARD MRI Rizal Bank, Inc.
“What we provide at CARD MBA is a microinsurance that is inclusive. Through this continuous expansion, we hope that we will be able to reach those who are in the far-flung areas and provide them the most affordable, accessible, and fastest microinsurance product,” said May S. Dawat, CARD MBA Chief Executive Officer.
CARD MBA is an association fully owned and managed by its members who are mostly Nanays (mothers) and microfinance clients of CARD MRI financial institutions. It offers basic life insurance, retirement fund, load redemption fund, and golden life insurance program among its members.
The Association also provides non-financial services or community development support to its members such as CARD MRI Disaster Relief Assistance Program (CDRAP), mass wedding, Build-Operate-and-Transfer (BOAT) Program, and scholarship grants to the children of its MBA Coordinators and BOAT Program beneficiaries.
The BOAT Program helps interested organized groups (OGs) that do not have the financial and technical capacity to institutionalize a microinsurance scheme in their organization to have a community-based microinsurance technology. This is in the hopes of providing microinsurance protection among the members they serve.
Dawat also emphasized that the opening of new provincial offices is part of the five-year strategic plan of the Association to insure forty million Filipinos in the country. “This achievement of CARD MBA signifies the strong commitment of everyone in the Association. My heartfelt gratitude to the members of our Board of Trustees, the management and staff, and our members nationwide for their unwavering support to CARD MBA,” shared Dawat.
The opening of the PO was led by CARD MBA Acting Deputy Director for Operations Mr. Erwin Venancio, CARD, Inc. Regional Director Ms. Estrella de Villa, and Former Board of Trustee Ms. Rosemarie Cortez.
To date, CARD MBA insures more than 18.8 million individuals nationwide.