From September 3 to September 8, 2024, 12 outstanding TYM customers/ center leaders of TYM, honored to represent provinces with TYM activities, participated in learning about practical experiences in microfinance at the Center for Agriculture and Rural Development Mutually Reinforcing Institutions (CARD MRI) in the Philippines.
During the visit and study in the Philippines, the delegation learned about CARD MRI, visited CARD MRI offices and research centers, attended center meetings, and visited the business model of CARD MRI customers.
In addition, the delegation also participated in many other meaningful activities such as planting trees to protect the environment at the farm of a CARD MRI customer; working with CARD MRI staff to pack relief goods for customers of CARD MRI affected by the storm; learning about the culture, history, and cuisine of the indigenous people of the Philippines; along with many other interesting cultural exchange and experience activities.
At the end of the study tour in the Philippines, all members of the delegation were very impressed with the development of CARD MRI, the highly humane multi-industry, the development of diverse products that bring many benefits to customers and especially the practical activities to support customers. With CARD MRI, customer benefits are always put first when researching and developing products and services, so this organization can easily attract customers to participate, not only that, they also stick with it for a long time and use many products and services of CARD MRI. Thanks to that, CARD MRI is growing stronger and stronger, many of their customers have better lives.
The study tour is the basis for the center leaders/officials of the Vietnam Women’s Union, who have influence on female members to better understand the importance of microfinance activities of TYM and also of the Vietnam Women’s Union in the effort to reduce poverty and empower women. The women also learned many good experiences to do better in their work as a center leader, continue to contribute to the Vietnam Women’s Union and TYM, thereby increasing the number of disadvantaged women accessing TYM’s services, which is a lever to help them escape poverty sustainably, contributing to improving the position of women in society.
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In the past time, TYM has worked with CARD MRI to organize many activities to help customers and staff of the two organizations in Vietnam and the Philippines visit and learn from each other. These useful trips are also opportunities for women to exchange and share about culture as well as knowledge and life skills, contributing to helping women integrate internationally. CARD was established in 1986, with the first member organization being the Center for Agriculture and Rural Development. After nearly 38 years of operation and development, CARD has always carried out its social mission of providing access to diverse microfinance services for women, striving to diversify products to serve more people in need. At the same time, CARD always aims to build a sustainable organization led and owned by poor women and their families. To date, CARD MRI has grown strongly with 25 companies and is expected to have 29 companies officially licensed to operate by the end of 2024. Currently, the number of customers/accounts CARD is serving: 9,442,197, outstanding loans: 45,895,097,088 pesos, savings balance: 36,153,044,263 pesos, repayment rate of 99.25%.
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