Vision and Mission

VISION

CARD MBA is a global leader in the microinsurance industry, owned and led by members upholding the core values of competence, family spirit, integrity, simplicity, humility, excellence and stewardship.

MISSION

    1. To promote the welfare of marginalized sectors of the Philippine society and to other sectors as maybe determined by the Board;

    2. To extend financial assistance to its members in the form of death benefits, medical subsidy, pension and loan redemption assistance;

    3. To ensure continued access to benefits/resources by actively involving the members in the direct management of the association that will include implementation of policies and procedures geared towards sustainability and improved services;

    4. To adopt a prudent cash management program to invest profitably all cash in excess of current disbursement through a majority vote of its Board of Trustees.



    CARD MBA as one of the MRI

    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 twenty-two (22) 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 CARD MRI Rizal Bank, Inc. (CMRBI) are automatically enrolled with CARD MBA. They pay a reasonably low premium for the microinsurance, that when in times of sudden and unforeseen events 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, works harmoniously with each other towards nation-building.



    Institutional Background

    CARD Mutual Benefit Association, Inc. started as an informal insurance-like activity called Members’ Mutual Fund (MMF). MMF was established by CARD in April 1994 for the primary purpose of loan redemption in case of the death of member-borrowers. It served as an in-house insurance arm of CARD providing death benefits for the members and their legal dependents aside from the loan redemption for member-borrowers.

    In December 1996, the Pension Plan was implemented providing retirement, medical and disability benefits to members. This product became very popular with its member-clients. Unfortunately, CARD had not adequately assessed the impact of this product on the institution. When an assessment was done, it showed that a member would have to pay premiums for two years just to cover one month of the benefit. Extrapolating from there, management realized that the whole institution was at risk and that fulfilling its obligation to members would completely diminish the CARD’s capital.  Thus, the Pension Plan was stopped only after a couple of years of its implementation. From this incident, CARD’s management learned that an insurance business must be run by insurance professionals. Management also concluded that the insurance business should not be tied to the capital of a microfinance institution (MFI).

    Management extricated CARD from this liability and transferred the assets of the fund to the members who then started a separate company with a separate Board. The management of the MMF was officially turned over to the members on September 9, 1999, during a two-day workshop held in San Pablo City and the fund assumed a new name, the CARD Mutual Benefit Association, Inc. or CARD MBA, a separate legal entity, non-stock, non-profit, owned and managed by the members.

    Since then, products and services provided for the members are continuously increasing and innovating. From the primary purpose of loan redemption, CARD MBA now gives Basic Life Insurance Program, Golden Life Insurance Program, Credit Life Insurance Program, Retirement Fund, Remitter Protek Plan, Family Security Plan, Donated Benefits, Build-Operate-and-Transfer (BOAT) Program, Mass Wedding and Disaster Relief Assistance Program.

    As of May 31, 2020, CARD MBA has a total membership of 5,963,475 households. Translating that figure into individuals, the Association is serving 20,928,475 insured individuals per household. The main office of CARD MBA is in San Pablo City and has seventy-four (74) Provincial Offices.

    _________________________________________________________________________________________________
    Source: Innovations-in-Actions: The CARD MBA Experience by Dr. Alexander M. Dimaculangan



    Funding Source and Investment

    On December 31, 1999 the year when Members Mutual Fund (MMF) shifted to CARD MBA, the total asset of the institution was only Php 6.61 million. These assets have significantly increased to Php 13 billion as of December 31, 2017. The funds are invested in the government securities and into time deposits.

    Further, the funding of CARD MBA is mainly sourced from members’ weekly contributions. Each member contributes Php20.00 weekly (Php15.00 for Life Insurance and Php5.00 for their Retirement Fund) to the Association for as long as she is a member. For Golden Life Insurance Program (optional program), each member contributes Php50.00 (option 1) or Php100.00 (option 2) weekly premium.

    Aside from the weekly contributions, another source of fund of the association is the 1.5% loan redemption fees being deducted from the proceeds of the loan under its Credit Life Insurance Program.



    Organizational Structure

    CARD MBA ORGANIZATIONAL STRUCTURE - 5.06.14 (FINAL) Revised V.2

    org-structure




    Board of Trustees

     

    Ms. Flordeliza C. Cristobal

    President

     

    39, Filipino, is a member of the Board of Trustees since September 9, 2018, and elected as BOT President on September 5, 2019. She is also a member of the Product Development and Innovation Committee, Treasury Committee, Related Party Transaction Committee and Remuneration Committee. She is a Basic Computer graduate and currently resides in Dasmariñas, Cavite. She is into the RTW business. Ms. Cristobal holds no directorship or any position in any listed company.

     

     

    Ms. Ligaya P. Ramos

    Vice-President

     

    64, Filipino, is a member of the Board of Trustees since September 9, 2018 and elected as Vice President on September 5, 2019. She is also a member of Product Development and Innovation Committee. She is a BS Commerce Major in Accounting graduate and currently resides in Danao City, Cebu. She is into carinderia business. Ms. Ramos holds no directorship or any position in any listed company.

     

    Ms. Cristita S. Salao

    Secretary

     

    49, Filipino, is a member of the Board of Trustees since September 5, 2019, and elected as the Corporate Secretary on the same day. She is also a member of the Audit Committee She is a Medical Technology graduate and currently resides in Dasmariñas, Cavite. She is into a variety store business. Ms. Salao holds no directorship or any position in any listed company.

     

    Ms. Remedios V. Gabriel

    Treasurer

     

    60, Filipino, is a member of the Board of Trustees since September 5, 2019, and elected as BOT Treasurer on the same day. She is a member of the Treasury Committee and Related Party Transaction Committee. She is a High School Graduate and currently resides in Balete Batangas. She is into a food vending business. Ms. Gabriel holds no directorship or any position in any listed company.

     

    Ms. Marabella D. Celoso

    Trustee / Member

     

    35, Filipino, is a member of the Board of Trustees since September 9, 2018. She is a BS Commerce Major in Banking and Finance graduate and currently resides in Milagros, Masbate. She is into the crab marketing business. Ms. Celoso holds no directorship or any position in any listed company.

     

    Ms. Roselyn V. Bayron

    Trustee / Member

     

    51, Filipino, is a member of the Board of Trustees since September 9, 2018. She is a Food Service Management undergraduate and currently resides in Alabel, Sarangani. She is into tailoring business. Ms. Bayron holds no directorship or any position in any listed company.

     

    Ms. Audrey R. Cabebe

    Trustee / Member

     

    40, Filipino, is a member of the Board of Trustees since September 9, 2018. She is a Beauty Care NCII Graduate and currently resides in Batac, Ilocos Norte. She is into piggery and farming business. Ms. Cabebe holds no directorship or any position in any listed company.

     

    Ms. Perla L. Munar

    Trustee / Member

     

    47, Filipino, is a member of the Board of Trustees since September 5, 2019. She is a member of the Audit Committee. She is a BS Biology Undergraduate and currently resides in Floridablanca, Pampanga. She is into buy and sell business. Ms. Munar holds no directorship or any position in any listed company.

     

    Ms. Teresita G. Villanueva

    Trustee / Member

     

    54, Filipino, is a member of the Board of Trustees since September 5, 2019. She is High School Graduate and currently resides in Baco, Oriental Mindoro. She is into buy and sell business. Ms. Villanueva holds no directorship or any position in any listed company.

     

    Ms. Dorfe A. Pagunsan

    Trustee / Member

     

    61, Filipino, is a member of the Board of Trustees since September 9, 2018. She is a BS Biology graduate and currently resides in Governor Generoso, Davao Oriental. She is into the Agri-farming business. Ms. Pagunsan holds no directorship or any position in any listed company.

     

    Ms. Nora T. Porley

    Trustee / Member

     

    47, Filipino, is a member of the Board of Trustees since September 5, 2019. She is Midwifery Undergraduate and currently resides in Torrijos, Marinduque. She is into buy and sell business. Ms. Porley holds no directorship or any position in any listed company.

     

    Ms. Elizabeth T. Francisco

    Trustee / Member

     

    51, Filipino, is a member of the Board of Trustees since September 5, 2019. She is High School Graduate and currently resides in Villaverde, Nueva Vizcaya. She is into direct selling business. Ms. Francisco holds no directorship or any position in any listed company.

     

    Ms. Vida T. Chiong

    Independent Trustee

     

    67 years old; has been an Independent Trustee of CARD-Mutual Benefit Association, Inc’s Board of Trustees since September 5, 2019. She is the Ex-Deputy Commissioner of the Insurance Commission from 1999 to 2016. Also a faculty member in the Mathematics Department of FEATI University from 1971 to 2000.

     

    Ms. Arlette A. Umali

    Independent Trustee

     

    68, Filipino, has been an Independent Trustee of CARD-Mutual Benefit Association, Inc’s Board of Trustees since November 1, 2010. She has a degree in B. A. in Public Administration (1971), and Master’s degree in Public Administration (1977), Development Banking (1982) and in Business Administration (2002). She currently resides in Marikina City.

     

    Atty. Jomer H. Aquino

    Independent Trustee

     

    47, Filipino, has been an Independent Trustee of CARD-Mutual Benefit Association, Inc.’s Board of Trustees since September 9, 2012. He is a graduate of AB Philosophy (1989) and attained his degree in Laws in 1997. He currently resides in Pasig City and is a Managing Partner of Burkley and Aquino Law Office.

    BOT Members
    For White Background

    Standing (from left to right):
    Audrey Cabebe, Marabella Celoso, Flordeliza Cristobal, Fidela Gabatin, Dorfe Pagunsan, Ligaya Ramos, Girlie Lopez, Roselyn Bayron

    Sitting (from left to right):
    Rosalie Barandino, Minerva Arcullo, Arlette Umali, Violeta Aquino, Hean Rosales, Analie Marasigan, Atty. Jomer Aquino



    Advisory Committee


    Ms. Deverna Briones

    (Chairperson) Vice President for Administration

    and Academic Affairs


    Mr. Edzel A. Ramos

    Vice President for Learning and Development


    Ms. Cynthia B. Baldeo

    CARD SME, Executive Vice-President


    Ms. Cherry A. Boncajes

    CARD SME, Asst. Vice President for Operations


    Ms. Glenda C. Magpantay

    CARD Bank, Asst. Vice-President


    Ms. Marlyn M. Marudo

    Rizal Rural Bank Inc., Asst. Vice-President


    Ms. Glenda H. Atabay

    CARD Inc., Operations Director


    Ms. Juliana B. De Leon

    CARD Inc., Operations Director



    Management Team

    MANAGEMENT COMMITTEE (ManCom)

    May S. Dawat

    Chief Executive Officer

    Janet D. Caneo

    Deputy Director for Admin and Finance

    Arlene R. Umandap

    Deputy Director for Claims & Technical Support

    Roselito A. Magpantay

    Operations Director

    Gina C. Abata

    Deputy Director for Operation (Luzon 1)

    Ma. Joyce M. Alimagno

    Deputy Director for Operation (Luzon 2)

    Mauricio B. Maur

    Deputy Director for Operation (Visayas)

    Michael Kelvin N. Junos

    In-house Actuary

    Rona R. Nava

    Deputy Director for Operations (Mindanao)

    Jennifer O. Redublo

    Compliance Officer

    Aileen C. Barrera

    Claims Manager

    Kathryn Joyce B. Manimtim

    Finance Manager

    Lorenz Nicole R. Casas

    Compiler

    Edison P. Tuico

    DCC & Underwriting Manager

    Solomon A. Aramil

    Senior Admin Manager

    Mary Anne M. Amatus

    Business Analyst

    Rose B. Martecion

    Cluster Manager (Luzon 1)

    Erwin G. Venancio

    Cluster Manager  (Luzon 2)

    Maribel M. Almanza

    Cluster Manager (Luzon 3)

    John Paulin P. Icaro

    Cluster Manager (Luzon 4)

    Edison R. Reyes

    Cluster Manager (Luzon 5)

    Eduardo D. Rapsing Jr.

    Cluster Manager (Visayas 1)

    Catherine M. Patay

    Cluster Manager (Visayas 2)

    Francis R. Montilla

    Cluster Manager (Visayas 3)

    Janicekith N. Navera

    Cluster Manager (Mindanao 1)

    Catherine E. Pondevida

    Cluster Manager (Mindanao 2)

    Oliver M. Reyes

    (DDO/ International Group – Cambodia)

    Nice C. Macalalad

    (CM/International Group – Vietnam)

    Management Team
    For White Background

    Standing (from left to right):
    … Gina C. Abata, Ma. Joyce M. Alimagno, Aileen C. Barrera, Mauricio B. Maur, Catherine M. Patay, Michael Kelvin N. Junos, Edison P. Tuico, Erwin G. Venancio, Solomon A. Aramil, Edison R. Reyes, Mary Anne M. Amatus, Francis R. Montilla, Janicekith P. Navera, Kathryn Joyce B. Manimtim, Jennifer O. Redublo

    Sitting (from left to right):
    Catherine E. Pondevida, Aristopher F. Punzalan, Rona R. Nava, May S. Dawat, Janet D. Caneo, Arlene R. Umandap, Oliver M. Reyes, Nice C. Macalalad



    Awards & Recognition

    Top Performing Insurance Company (ACGS) 2018

    CARD MBA was recently awarded as one of the “TOP PERFORMING Insurance Company in the Philippines 2018” under the Asean Corporate Governance Scorecard (ACGS) last June 11 in Pasay City.

    Microinsurance Plaque of Recognition

    CARD MBA was recognized by the Insurance Commission for actively supporting Microinsurance initiatives in the Philippines during the celebration of the National Microinsurance Month last January 31, 2012, at the PICC CCP Complex, Roxas Blvd., Pasay City.