First women’s bank mulled

CEBU, Philippines - The Mandaue Chamber of Commerce and Industry’s “Women in Need Now Entrepreneurs and Role Models” or WINNERs program, is planning to work with the Cebu Chamber of Commerce and Industry to realize the plan of establishing the first “Women’s Bank” in Cebu.

WINNER’s program chairperson Carmel Salvador said that while the CCCI is now led by a woman-banker—Ma. Teresa B. Chan, realization of this “dream” bank to cater the needs of women is not farfetched.

“I also served as the trustee of CCCI, and even continue to be an active member now. Our focus is on uplifting the lives of women, who are struggling financially, but have great potential to succeed in their various endeavors to support the family. Although, this plan is started by MCCI, we need help from other big business organizations like the Cebu Chamber,” Salvador told The Freeman  yesterday.

In a separate interview with Chan, she said she is willing to collaborate with MCCI in building a “Women’s Bank,” after-all she served as a bank executive for more than a decade.

Aside from working with the CCCI, Salvador also mentioned in seeking help from other successful women like Teresita Sy of the Metrobank Group, and other powerful women who have passion to help uplift the lives of other women initially in Cebu.

“Only women can also understand other women. We know our needs, what makes us happy, fulfilled, successful as a woman,” said Salvador.

She said establishing a Bank for Women” or :Wbank”, is very important to raise the bar in providing financial assistance to micro-entrepreneurs in order not to be victimized by the “loan sharks” or locally known as 5/6 creditors, who are the only resort of small and “un-recognized” women  vendors.

“They are part of the eco-system in the business community; they should be given a place in the development. MCCI is recognize this need,” Salvador said expressing hope that this movement may drum up more support from local and international organizations, whose primary advocacy are on helping the micro women  entrepreneurs.

Salvador said together with the CCCI, the two powerful business organizations may submit proposals on this particular project to international organizations, which are dedicating their support for women empowerment.

Salvador said that while WINNERs program has gained support from other organizations like the  Asian Carriers Conference (ACC), and the plan of the Cebu provincial government to make the program a province-wide activity, a training center and a Women’s Bank  is not a difficult plan to realize.

“In the last three years, we’ve seen the struggles of the ordinary women working hard and become role models in their communities, promoting and encouraging entrepreneurship  and yet they are not recognized, or even given opportunities to grow” said Salvador.

She said there are a lot of organizations locally and internationally which could support this plan, the committee shall tap different groups, and non-Government Organizations (NGOs) to pursue this plan.

Technical training is very important in order to women, to be encouraged in growing their small businesses, and increase their ‘self-worth”, said Salvador.

Today, there are several credit card companies that even introduced a dedicated credit card for women “why not a bank?” she said.

“I am calling from other women, banker-women, and those that have resources to help us in realizing this plan,” Salvador concluded. (FREEMAN)