History

CARD MRI RIZAL BANK, Inc., A Microfinance-Oriented Rural Bank (Formerly : Rizal Rural Bank (Taytay), Inc.) was founded in May 1996 by Atty Gregorio and Ms. Filomena Suarez, both veterans of the Bangko Sentral ng Pilipinas, to serve the community in Taytay, Rizal where their famiy resides. The bank also provided various financial as well as consultancy services to the people of Taytay.

On August 1, 2012, the Center for Agriculture and Rural Development, Inc. (CARD, Inc.), CARD Bank, Inc, and individual investors submitted its intent to purchase 100% ownership of the bank. Thus, on October 11, 2012 the CARD Mutually Reinforcing Institutions (CARD MRI) group and the Suarez family had a formal signing to signify the official sale of CARD MRI RIZAL BANK, Inc. to the CARD MRI Group.

Implementation of microfinance program was then started by applying the CARD MRI methodology of transitioning evaluated clients from Taytay Units 1 and 2 of CARD, Inc. This is parallel to the objectives of the CARD MRI Group: serving the socially-and-economically challenged families.

Bangko Sentral ng Pilipinas officially approved on January 25, 2013, through Monetary Board Resolution 155, the transfer of 100% ownership of CARD MRI RIZAL BANK, Inc. to the CARD MRI Group including the transfer of RBI’s head office to Sta. Cruz, Laguna and establishment of additional three branches and ten (10) Micro-banking Offices.

Vision and Mission

Vision

CARD MRI RIZAL BANK, Inc. is a world-class leader in microfinance and community-based social development undertakings that improves the quality of life of socially and economically challenged women and families towards nation building.

Mission

CARD MRI RIZAL BANK, Inc. is committed to:

• Empower socially and economically challenged women and families through continuous access to financial, microinsurance, educational, livelihood, health and other capacity-building services that eventually transform them into responsible citizens for their community and the environment;
• Enable the women members to gain control and ownership of financial and social development institutions; and
• Partner with appropriate agencies, private institutions, and people and community organizations to facilitate achievement of mutual goals.