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CARD Bank Matapat Savings Pilot Launch

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Published on Dec 30, 2010

The Microsavings Initiative, a three-year project that is part of Grameen Foundation's Solutions for the Poorest program, celebrated a first-year milestone with the November launch of a pilot program at the Philippines' Center for Agricultural and Rural Development (CARD) Bank. Known as MATAPAT -- which means "honest" in Tagalog, the local language -- the program is a new savings service that makes it easy and affordable for clients to deposit and withdraw funds through ATM machines or by requesting (through text message) at-home pickup of savings deposits. "This is a dream come true for CARD Bank, especially the members who have wanted to see an ATM machine here," says CARD Bank CEO Dorie Torres.

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