The Center for Agriculture and Rural Development, Inc. (CARD Inc.) was established in 1986 as a non-profit, non-political foundation. It started its operations with training and livelihood assistance project for landless coconut workers. In January 1989, CARD Inc. pilot tested a modified Grameen Bank scheme in four villages of San Pablo City, Laguna and the results were encouraging that it became a full-scale project in 1990.

On April 1994, CARD Inc. established Members’ Mutual Fund (MMF) whose primary purpose is loan redemption in case of death of member-borrowers. Since then, it has served as in-house microinsurance service provider of CARD Inc. for loan redemption in case of death of member-borrowers and burial benefits for members and their legal dependents. In December 1996, the Pension Plan was implemented providing retirement, medical and disability benefits to members. But due to the absence of an actuarial study, it was stopped after more than two (2) years of implementation when the management realized that the Pension Plan was eroding the fund.

In view of the above situation and in support to the goal of members’ empowerment, the management of the MMF was officially turned over to the members on September 9, 1999 and has assumed a new name, the CARD Mutual Benefit Association, Inc. (CARD MBA).

CARD MBA is a separate legal entity owned and managed by the members and it is the formal microinsurance provider of CARD Inc., CARD Bank, CARD BDS and other institutional affiliates. The main office of CARD MBA is in San Pablo City and has thirteen (13) Provincial Offices located in the provinces of Quezon, Camarines Sur, Masbate, Occidental Mindoro, Oriental Mindoro, Leyte, Cebu, Davao, Misamis Oriental, Ilocos Norte, Pangasinan, Batangas and Bulacan. Its Board of Trustees is composed of active members of the Association elected by the general membership.

Members of CARD NGO, CARD Rural Bank, Rural Bank of Sto. Tomas (RBST) (savers not included) and borrowers being assisted by CARD BDS are automatically enrolled with CARD MBA. As of  September 30, 2008, CARD MBA has a total membership of 605,876 households, 45,312 of them are non-CARD members. Translating that figure into individuals, the Association is serving 3,255,940 insured individuals assuming an average of five (5) members per household. The total asset of the Association has increased from Php 6.61 million in 1999 to  Php 1.04 billion in September 30, 2008.

MISSION

CARD-MBA is a 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 loan redemption package; and

To actively involve the members in the direct management of the association including formulation and implementation of policies and procedures geared towards sustainability and improved services.