By: Bea Arnela
Agricultural and Rural Development for Catanduanes, Inc. (ARDCI) recently celebrated its 17th founding anniversary last September 11, 2015. The festive day started with a Thanksgiving Mass and was followed by a colorful parade around the town of Virac. Hundreds of ARDCI members gathered in the Virac Sports Complex to join the fun-filled celebration. Senator Francis “Chiz” Escudero graced the event and gave an inspirational talk. The members enjoyed various games and raffle draws. Toward the evening, the ARDCI staff, management, and valued guests continued the celebration in the Virac Town Plaza. During the area presentations, the members showcased their talents through impressive production numbers. The event aptly ended with vibrant fireworks display.
ARDCI acknowledged distinguished partners with the ARDCI Uswag Award and SEDPI was a proud recipient of the recognition.
ARDCI has plenty of reasons to be grateful and to celebrate. Since the organization’s establishment in 1998, it has stayed true to its commitment to empower its members, primarily poor households, by providing financial services such as microcredit and micro-insurance. With its members growing close to 100,000 households, the organization now operates in 47 branches in ten provinces. In 2014, ARDCI began its operations in Mindoro and Marinduque with five and two new branches respectively. The organization recorded a remarkable 35.95% growth in number of active clients and 33.18% growth in loan portfolio on the same year.
Bicol region’s largest MFI has continuously strived for growth and progress. It has not always been an easy journey for ARDCI. Before the organization forged a partnership with SEDPI in 2007, ARDCI was struggling with its poor financial performance and net loss for four consecutive years prior. SEDPI helped ARDCI to improve its performance through providing Technical and Mentoring Assistance. The management’s tireless efforts and dedication in the partnership goals paid off. It was not long before ARDCI started posting positive income again and regained the support of donors and funders for its financial needs.
Until this day, ARDCI persistently works on its financial performance as shown in the table below.
| Financial Performance | 2012 | 2013 | 2014 | Standard |
| Portfolio-at-Risk | 4.78% | 1.96% | 3.05% | <5% |
| Adequacy of Loan Loss Prov. | 100% | 100% | 100% | 100% |
| Operational Self Sufficiency | 176% | 133.52% | 145.51% | >120% |
| Loan Officer Productivity | 295 | 303 | 354 | >300 |
| Financial Self Sufficiency | 176% | 130.41% | 141.76% | >100% |
| Loan Portfolio Profitability | 10.64% | 13.04% | 18.05% | > Inflation* |
In terms of Portfolio Quality, ARDCI was able to maintain its PAR Ratio within the industry standard and is fully provided in terms of loan loss provision since 2013. Sustainability measures were also generally outstandingly high. Overall, these indicators accompanied by notable increase in outreach, suggest that the organization is financially sound and healthy.
ARDCI takes pride in sustaining and flourishing its grassroots-led development initiatives not only in microfinance operations but also in its social services programs. Throughout the years, ARDCI provides unwavering committed service and looks forward to more wonderful years with its member and partners.