The CARD Mutual Benefit Association, started in April 1994 as CARD-Members’ Mutual Fund (MMF) which aims to provide benefit to members in case of death. Encouraged by the warm response and highly positive feedbacks from members, CARD MMF continuously improved its benefits packages to members to include their legal spouses and dependent children. The management of the MBA was turned over to the members on September 9, 1999 and is now governed by its own Board elected from their ranks.
CARD MBA is a non-stock, non-profit mutual benefit association formed to promote the welfare of marginalized women; to extend financial assistance to its members in the form of death benefits, medical subsidy, pension and all loans redemption package; and to actively involve the members in the direct management of the association that will include formulation and implementation of policies and procedures geared towards sustainability and improved services.
CARD MBA will eventually be registered as a full-blown insurance company as soon as capitalization requirement is met. In preparation, CARD MBA is now aggressively training its staff as well as its Board of Trustees and Insurance Agents.