After CARD MRI acquired CARD RBI, microfinance methodologies started to be implemented by the rural bank. One of these is the organization of women into centers. Each center meeting is led by a Center Chief. Officers such as the Secretary and Treasurer are also elected by the group. These center meetings are done weekly or monthly, depending on the performance of the members of each center.
Center Meetings are crucial in the growth and development of the members, as these become the venue for them to interact, to learn, and to decide.
Taytay, Rizal, being a first class municipality near Manila, is populated with small and medium businesses. Naturally inclined to entrepreneurship, natives of Taytay prioritize their businesses above anything else, making them mostly unavailable for other activities outside their business premises.
This is how the idea of a Savings Officer was conceptualized by the rural bank. Instead of savers coming to the bank to deposit, the bank goes to them. Each day, the Savings Officer goes from one business to another to collect the saversâ€™ deposit for the day. He then remits the amount collected to the bank.
This practice is still implemented in the Taytay Branch. However, RBI is looking towards implementing the same strategy to its other branches in the near future.
In partnership with CARD-MRI Development Institute, Inc., we enhance the skills and capabilities of our workforce to deliver the most excellent service to our members. We prepare our staff and management to become effective development agents through arming them with the best knowledge and practices in banking.
Members as Stockholders
Sharing the vision of CARD MRI to transfer the ownership of a bank to the economically-challenged women, RBI encourages its members to become stockholders. To acquire shares, members can pay out of their pledge savings. Dividends are given as one of the benefits of being a stockholder.
Being a part of the CARD MRI group, RBI also participates in community development activities as a holistic approach to providing every need of their members. We participate in educational, health, livelihood, disaster management, and environmental efforts of CARD MRI.