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Microfinancing

OLYMPUS DIGITAL CAMERA OLYMPUS DIGITAL CAMERA MICROFINANCE HISTORY

—  The microfinance is part of the corporate social responsibility of First Macro Bank.  It not only provides financial services such as non financial services.

—  It provides livelihood trainings , seminars and businesss exposure to strengthen the capability of the clients to manage their own businesses.

Year 2000, FMB initially offered a Microfinance loan.

SIKAP (Sama-samang Itaguyod ang Kaunlarang Pangkabuhayan)

It was patterned after Grameen Banking, empowering and developing women in microenterprise and was piloted at Morong branch.

During its first few months it has only one Technical Officer, and after seeing the potentials of the product by our EVP then- Mr. Ricky Ocampo, another two new Technical Officers were hired.

During its first year it had generated about 60,000 on its Loan Portfolio and then on the following year loan portfolio rose for more than 5,000,000 (five million) with PAR of below 5%.

From the nearby barangays in Morong branch, the bank extended its outreach to neighboring towns of Cardona, Teresa, Antipolo, Binangonan, Baras, Tanay, Pililia, Jalajala, Taytay, Cainta, Pasig, Taguig and Makati.

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2001     FMB Started doing individual lending partnering with MABS to implement their technology/methodology. Account Officers underwent rigorous training under the assistance of MABS people.

UNLAD- Uunlad ang Negosyo sa Lingap At Disiplina

UNLAD was pilot tested at Dasmariñas Branch. It was launched into the market on June 2001. By August 2001 they have their first client.

It was first rolled-out on October 2001 in GMA Branch and after several months to other branches, and in 2004 it was introduced to Morong and Angono Branch.

2002, FMB partnered with People’s Credit and Finance Corporation (PCFC) and gained recognition for helping the marginalized sector in Rizal

2003, FMB Technology takes place Palm Pilot was introduced in SIKAP loan program collection.

2006, FMB partnered with Innovations for Poverty Action, a social development organization with the introduction of the Credit Scoring System in assessing the eligibility of clients in availing a loan and to determine the amount to be availed based on certain scores. .

FMB was also the first to pilot the GCASH mobile phone banking services in Morong, Rizal. FMB continuous to create and adopt innovations in banking technology.

FMB also did an i-rate study to determine the sensitivity of the client’s decision to loan in relation to interest rate using PDA devices.

  Also In 2006,  First Macro Bank participated in the MIX (Microfinance  Exchange)  Survey.  MIX is a Washington based non-profit organization working with RBAP, MABS and Microfinance Council of the Phil.

February 2008,  FMB ranked 93rd all over the world in terms of outreach to voluntary microdepositors and ranked 3rd among the five participating banks of MABS who belong to the top 100 out of 820 MFI’s for 2007 survey conducted by Microfinance Exchange (MIX).

2009, FMB, partnered with MicroEnsure Philippines, a subsidiary of Micro Ensure in providing microinsurance  and technical assistance to beneficiaries.  MicroEnsure Philippines  operates in 38 provinces in the Philippines. Our areas of operation include cities and towns in Metro Manila, Rizal, Laguna and Cavite within 100 km from farthest branches in the north and south

March 2010, FMB partnered and got the services of MicroSEED (Microfinance Integration in Social Empowerment and Enterprise Development ) to cope with the current trend in group lending operations using ASA methodology.

  November 2010, FIRST MACRO BANK bags,

Special Award Winner for Green or Sustainable Enterprise

for Angono Branch Unlad Loan program client: Ismael Adiaton CITI Microentreprenuer of the year award 2010

And  

Special Award Winner Enterprise engaged in Agriculture for Morong UNLAD Loan program client: Macrina Piliin CITI Microentreprenuer of the year award 2010

September 2012, FMB partnered with Pioneer Life Insurance, in Developing Micro insurance product tailored with FMB’s Microfinance clients.

Macro protect covers the whole family. The plan will cover Basic life insurance, Accident Insurance, and the burial assistance which client get within 24 hours upon notification of death.

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