(formerly GM Bank)

Mission:

GM Bank envisions a region where economic resources are enjoyed not only by the wealthy few but also by the poor sector of the community.

Background and Main Challenges:

GM Bank, Inc is a consolidation of two of Nueva Ecija's most established rural banks namely, Munoz Rural Bank, Inc. and Community Rural Bank, Inc. The Monetary Board of BSP approved the Consolidation in November 6, 2003 and formally implemented the consolidation in December 2004.

Address:

T. delos Santos St.

Science City of Munoz

Nueva Ecija

3119

Philippines

Phone:

(045) 608-0494

Email:

gmbank_inc [at] yahoo [dot] com

Website:

www.gmbank.com.ph

Main Funding Sources:

Loans

Savings

Shareholder Capital

Products and Services:

Loans

Voluntary Savings

Fund Transfer Services

Products:

Loans, savings, remittances/money transfers

Services Provided:

Full-scale Financial Services

Looking for (Investment Types):

Loans in Local Currency

Donations

Guarantees

Capacity Building Grants

Equity investments

% Operations Comprised by MF:

0 - 10

Date established:

Jan 1 1987

FYE:

31-Dec

Current Legal Status:

Rural Bank

Regulated:

yes

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Women	1
Clients living in rural areas	2
Clients living in urban areas	3
+ Development goals (ranked by importance)
Poverty reduction	1
Growth of existing businesses	2
Increased access to financial services	3
Gender equality and women's empowerment	4
Employment generation	5
+ Poverty targets
Poor clients
Low income clients
+ Governance
Has trained members of its board on social performance management
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit loans for microenterprises
Microcredit for household needs/consumption
SME loans
Loans for agriculture
Housing loans
Commercial Loans, Industrial Loans, Salary Loans, Motor Vehicle Loans.
+ Savings products offered
Checking accounts
Voluntary savings accounts
Compulsory savings accounts (cash collateral)
Fixed term deposits
+ Compulsory insurance products required
Compulsory credit life insurance
Compulsory agricultural insurance
Life Insurance.
+ Voluntary insurance products offered
+ Other financial products and services offered
Mobile banking services
Savings facilitation services
Remittances services
+ Non-financial services offered
+ Enterprise services offered
Enterprise skills development
+ Education services offered
+ Health services offered
+ Women's empowerment services offered
Leadership training for women
+ Products and services targeting the poor
Products and services specifically designed to target the poor:
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Staff is trained to communicate effectively with all customers, ensuring that they understand the product, the terms of the contract, their rights and obligations. Communications techniques address literacy limitations (e.g. reading contracts out loud, materials in local languages).
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+ Cost of services to clients
Flat interest method
+ Social responsibility to staff
+ Human resources
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Outreach to remote/rural communities
Client retention/drop-out rate
Portfolio quality
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts
This institution includes specific clauses in its loan contracts to mitigate specific environmental risks
+ Poverty measurement tools in use