Farmers’ Accessibility to Financial Services in the Municipality of Atok.

Abstract

This research was done with the primary objective of assessing the awareness and accessibility of farmers to financial services. This research attempts to explore and understand the perceptions of farmers toward financial services, and their accessibility to financial services. Two types of respondents were interviewed for the research; farmers and financial services providers in Atok, Benguet. The research focused on farmer’s accessibility to financial services, their preferences, and their problems in accessing financial services. Quantitative data analysis was done for the information gathered. Financial service like credit is sufficient in the area provided by informal sources, microfinance institutions, and a bank. Savings and insurance services are provided to those who availed in microfinance institutions like Card Bank, ECLOF and ASA Phils. Farmers have strong awareness of financial services in their area. Still farmers were served by informal sources because of fast processing, no requirements needed just good relationship, no collateral required and accessibility is good.