The CARD Mutually Reinforcing Institutions (CARD MRI) is a group of institutions with a common goal of becoming a world-class leader in microfinance and community-based social development undertakings that improve the quality of life of socially-and-economically challenged women and families towards nation building. Through its fourteen institutions, it provides the financial and non-financial needs of poor women and their families.
The Center for Agriculture and Rural Development Mutual Benefit Association Inc. (CARD MBA) is the insurance arm of the CARD Mutually Reinforcing Institutions (CARD MRIs). It is a separate legal entity owned and managed by the CARD MRI borrowers, who, by the definition of a mutual benefit, are called “members of the association”. Members of CARD MRI’s financial institutions CARD Inc., CARD Bank Inc., CARD SME Bank Inc., and Rizal Bank, Inc. (RBI) are automatically enrolled with CARD MBA. They pay a reasonably low premium for the microinsurance, that when in times of sudden and unforeseen event such as accident, death, or disability the members can claim financial assistance from the association. There is also a retirement fund for the members and non-financial services such as mass weddings, relief assistance called the CARD MRI Disaster Relief Assistance Program (CDRAP), and Build-Operate-And-Transfer (BOAT) Program for Organized Groups (OGs) and Cooperatives.
CARD MBA, Inc., together with the different institutions of CARD MRI, work harmoniously with each other to towards nation-building.