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Village Bank Opening Kicks Off Spectacular Philippines Trip
This year’s TIAW International Trip started with a visit to the beautiful Filipino countryside in Laguna to see Microenterprise in action and to open TIAW’s first village bank in the Philippines. While this was not my first visit to the Philippines, it was my first time at a TIAW Microenterprise bank opening. I had heard from many others what an inspiring experience it was, but nothing could prepare me for the emotional impact of the actual experience.
Eight TIAW delegates, along with our hosts from the Filipino Chinese Business Women’s Association, boarded a bus that took us to the CARD offices (Centre for Agriculture and Rural Development) in Laguna. Dr. Aristotle Alip, leader of the CARD program, introduced us to 27 village bank leaders from throughout the Philippines, each representing 30 to 60 women. The women were in town for a meeting to share best practices in village bank management. This particular meeting was taking place in an outdoor temple – an appropriate setting for such a significant meeting, especially as it served all people of all religions.
We took pictures of one another to have mementos to treasure when we got home, following that, Dr Aris treated us to an overview of CARD. The CARD program was established in 1989 as a challenge to conventional collateralized loans. It is based on the Grameen model pioneered in Bangladesh by Dr. Muhammad Yunus, with whom Dr. Alip took his training. We learned that in the Philippines, there are 5.2 million poor women and that CARD has reached about 600,000 of them through its branches. CARD started with 4 centers and 89 members in 1989 and by 2003 that figure had grown to 140,000 clients. A portfolio of 40,000 loans totaling 1 million pesos from 2 branches in 1989 has grown to loans now totaling about 700 million pesos in 68 branches. Repayment rates exceed 99 percent! In 1997, CARD was able to convert a number of its non-profit branches into formal banking institutions. CARD’s staff totals 700, many of whom are the sons and daughters of original clients.
Next, we had a chance to see the real-life outcomes of the village bank activities when we visited three businesses in the Laguna area owned by women who had benefited from micro loans.
- Ariane, who has been in business for 9 years, was able to buy a sewing machine with her loan. She and her husband make handkerchiefs and jeans. Several purchases by TIAW helped to add to her profits.
- Mary Jean has been in business for 7 years, and she owns a fruit stand! Delicious mangos and Papayas were sold to eager purchasers.
- Gloria, in business for 11 years, has an exotic flower business with imports from all over the world.
This experience was rewarding for all of us but especially so for Peggy Espinda of the Board of Directors Network and Georgia Executive Women’s Network in Atlanta. . A Past President of the Filipino American Chamber of Commerce in Atlanta Georgia, Peggy was instrumental in the fundraising drive for the TIAW Philippine banks.
Next on the itinerary was a visit to the CARD bank in Laguna Bay where we watched “banking in action”. Marilyn, the bank branch manager described the CARD business loans as “weapons of mass construction.”
Our final stop was to open the first of three TIAW village banks in Sta. Cruz and Bocal. One by one we met each of the women who would benefit from our loans.
Many had their children with them and one was even celebrating her 50th birthday! We presented our check for the bank opening and Dr Aris said that 100% of our funds will go to the women. It was an amazing experience and a privilege to see first hand microenterprise at work.
TIAW members have raised funds for 14 Village Banks in eight countries over the last three years. As long as TIAW has been supporting Village Bank Programs in developing countries, we have always been so inspired to learn how our funds are enabling women entrepreneurs to finance their small businesses. These women inspire us with their ability to overcome extreme challenges with a $150 business loan. The Village Bank trips are always a moving, inspiring and unforgettable experience. We hope that you can join us in future trips!
TIAW was very excited to be working with a wonderful partner organization in the Philippines that will manage the Village Bank: the CARD Foundation, an affiliate of Grameen USA.
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