ASKI, the organization, was born in October 1986 in the year of the EDSA People Power Revolution when social issues like poverty and unemployment were widely felt. A group of business leaders in Nueva Ecija, out of Christian zeal and compassion, joined hands to think of a positive powerful response to the issues and help deliver the economic turnaround – micro-enterprise development. They chose to start small and right at home – in Cabanatuan City. With a small capital investment of P460,000 provided by the Maranatha Trust of Australia, the group reached out to the small entrepreneurs, to the street pliers, to the movers of the micro economy that had no access to bigger funding institutions. Challenged by their mission and the efforts of other development NGOs, the founders and managers dug deep and wide on their routes of service. Slowly, the organization grew into what it is today, a byword in the eco-social development in Central Luzon and nearby regions – Alalay sa Kaunlaran, a partner in development.

ASKI was officially registered with the Securities and Exchange Commission (SEC) on March 23, 1987 under the name “Alalay sa Kaunlaran sa Gitnang Luzon, Incorporated” as a non-stock, non-profit organization committed to the promotion and development of micro and small-to-medium enterprises and the delivery of social services. It formally launched its operations on July 1, 1987. From its starting fund of Ps460,000 (US$ 21,905), ASKI’s investment has grown to a total portfolio of P283.6M in 2008. From a small playing field in Cabanatuan City, ASKI has branched out into other provinces in Central Luzon and adjacent Regions I and II. It now has 21 branches which also commemorates its 21st year of operation. From a handful of loans services, ASKI’s lines have diversified into capital build-up, other cooperating arrangements and programs that really answer the needs of clients such as health and insurance programs, and money transfers among others. And from a handful of clients in 1987, ASKI now serves about 51,298 clients and institutions.

On September 23, 2004, the Board of Trustees of ASKI adopted a new name, Alalay sa Kaunlaran, Inc., dropping the phrase “Sa Gitnang Luzon” in line with its expansion program, particularly, in Regions 1 and 2. The expansion plan is congruent to ASKI’s desire to broaden and deepen its outreach. This is also ASKI’s contribution to one of the Millennium Development Goals (MDG), which the Philippine Government has committed to achieve by 2015. The MDG aims to halve the proportion of people living in poverty.

In 2005, ASKI established three (3) new branches: San Rafael (Bulacan), Santiago (Isabela) & Tuguegarao (Cagayan Valley). In 2006, it opened branches: Tayug, (Pangasinan), Paniqui (Tarlac), Angeles (Pampanga), Solano (Nueva Vizcaya), Urdaneta (Pangasinan), Cauayan (Isabela) and Roxas (Isabela). A branch located in Plaridel, Bulacan was opened in July 2007 while another branch in Tarlac located in Concepcion was established in May 2008.

ASKI Mutual Benefit Association (MBA), which is considered as ASKI’s first born, was registered with the Securities and Exchange Commission on June 21, 2006 and was licensed to operate by the Insurance Commission on July 1, 2007. ASKI MBA, which started its operation on December 1, 2007, is envisioned to be a highly competitive, reliable, sustainable mutual benefit association. This will be achieved through its mission of providing a comprehensive micro-insurance program for the security of members.

ASKI’s dream to have its own foundation which will take care of its social responsibility came true when the ASKI Foundation, Inc. was finally registered on June 23, 2008. Although ASKI has already been fulfilling its social mission by not only providing credit to the poor but by doing community development works and outreach programs like scholarship, sponsorship of day care centers, feeding program for the children, health program for senior citizens, blood letting, cataract operations, dental missions, relief giving to typhoon victims, donating to charitable organizations and the like, it believes that by establishing its own foundation there will be more focus in the fulfillment of its social mission, i.e., integrated community development and social development while ASKI MFI provides credit and business development services.

Learn More:

• Visit our Website: http://www.aski.com.ph/
• Join our lending team: "Team ASKI-Philippines"

September 11, 2011

As part of an ongoing effort to fully migrate risk ratings to our new and enhanced risk rating system, Kiva has conducted a re-assessment of the level of risk posed by this institution.

During this re-assessment, our analysts were able to gather updated operational and financial information about the institution, as well as speak with key members of the staff. 

Kiva's new risk rating system, which now includes half stars, has enabled us to display ASKI's risk rating with a higher level of granularity. As a result, ASKI's risk rating will now be displayed as 3.5 stars instead of 4 stars. 

We have prepared a blog post with more information on Kiva's new and enhanced risk rating system, along with a chart showing the relative magnitude of the overall changes for Kiva's portfolio.  To view that, please go here: http://www.kiva.org/updates/kiva/2011/09/07/kiva-risk-ratings-now-with-half-stars.html.

ASKI has been informed of the change in the display of their rating on Kiva's website.