SAVINGS
Official Website of ARDCI NGO GROUP INCORPORATED 2011. All rights reserved
Developed and Maintained by ARDCI MIS TEAM
AREAS OF OPERATIONS
ARDCI NGO GROUP operates mainly in the Bicol Region, Philippines, with branches now covering parts of Quezon Province
CATANDUANES
Albay
Camarines Sur
Camarines Norte
Sorsogon
Quezon
PRODUCTS
MICRO-INSURANCE
5 Branches
VisionBank
6 Branches
7 Branches
3 Branches
3 Branches
3 Branches
Life Insurance
Accident Insurance
Hospital Income Benefit
Credit Group Life Insurance (CGLI)
Exit Age One-Time Endowment Fund
Calamity Assistance
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AREAS OF OPERATIONS
PRODUCTS
MICRO-INSURANCE
ARDCI NGO GROUP INC. recognizes the mobilization of savings as a vital component in its development program. People work both to generate cash and provide for subsistence needs. Whenever surplus cash becomes available, part or all of it is set aside as the household's working balances, usually spent on later urgent or emergency needs. People call these cash balances 'impok' or 'tago' in the vernacular, or savings. Those who are thrifty tend to save more because they take particular care not to use these resources unless they really have to.
Savings has been defined in two ways:
(1) as the remainder of income less expenses; or
(2) the difference of total assets and total liabilities (net-worth).
The problem with the first definition, however, is the difficulty to treat savings as a remainder since savings actually precede spending, not the other way around. Definition (2), on the other hand, represents the broadest definition. It considers all assets of the household, minus its liabilities, as savings for the simple reason that such assets could have been acquired only from the household's previous savings.
The following factors influence the family or household to make use of savings facilities:
(1) Security of savings;
(2) Quick Access and Convenience; and
(3) Interest (Returns).
The simplest and most practical definition of savings is to regard it as any amount that is not yet spent, regardless of why it is unspent and the length of time it is held. Under this definition, the money held by the housewife on her way to the market is considered as savings, until it is actually spent.
Studies conducted both locally and abroad show that everyone, including the poor, could save, no matter how small the amount may be, and that those who save regularly reap benefits they thought weren't in their capacity to achieve.
ARDCI NGO GROUP INC. savings products are envisioned to provide long-term sources of capital that are more dependable and less costly than commercial loans.
ARDCI NGO GROUP INC. intends to mobilize savings through proper disposition to acquire more voluntary savings from the members. Staff must be more responsible and be able to handle cash deposits with utmost care, strong ethical and professional working standards while maintaining a warm and personal approach with the members to facilitate trusting relationship, thus, attract more savings deposits.
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Frequently Asked Questions
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