Highlights of the people's credit fund model

QTDND Bac Ly operates in Bac Ly ward and 2 communes Thuan Duc and Loc Ninh. Up to now, the unit has 4,604 members, total operating capital reaching nearly 340 billion VND; of which, total mobilized capital from deposits reaches more than 300 billion VND, accounting for 88.6% of total operating capital, ensuring full initiative in lending capital and payment reserves. The unit's credit activities have contributed positively to poverty reduction, expanding professional services, exporting labor, creating more jobs; especially limiting the situation of usury in rural areas, contributing positively to economic development and new rural construction.

Due to the need for capital to convert ineffective rice fields to a mixed farming model, in 2004, Mr. Duong Trung Thanh's family in Bac Ly ward received a loan of 200 million VND from the Bac Ly People's Credit Fund. From the loan, he dug a pond to raise fish, invested in barns to raise livestock and poultry. After making a profit, he paid off all his debts, but in 2018, due to storms and floods, his farm was completely lost. He continued to receive a loan of 400 million VND from the fund to repair the farm and invest in livestock to start over.

From credit loans, Mr. Dinh Anh Minh, Thuan Duc commune boldly invested in economic development.

Mr. Thanh said: The loan procedures of QTDND are very simple and convenient, we do not have to travel much, the interest rate is also suitable. The fast disbursement time is an advantage that helps farmers like us easily access loans from QTDND. The loan has helped my family overcome the consequences caused by storms and continue to develop the economy. Currently, with ^{6,000m2 of} fish pond, 50 pigs, 500 chickens, nearly 300 geese, etc., the farm earns more than 300 million VND/year.

Similarly, Mr. Dinh Anh Minh, Thuan Duc commune, wanted to open a plaster statue casting workshop but had no capital. He borrowed 300 million VND from the Bac Ly People's Credit Fund to invest in production. Overcoming initial difficulties in the market, capital, and designs, his facility is now operating more and more stably. His plaster statue products are diverse, sophisticated, and attract many customers. Mr. Dinh Anh Minh shared: The capital from the People's Credit Fund helped me start a business, creating stable jobs for myself and my family members. With the capital, I invested in buying machinery and equipment to serve my profession. Currently, on average, the facility produces nearly 10,000 plaster statues per month, earning 250 million VND/year after deducting expenses.

With the achieved results, the Bac Ly People's Credit Fund has been awarded certificates of merit by the Governor of the State Bank, the Ministry of Finance, the General Department of Taxation, and the Prime Minister. In particular, in 2025, the unit was awarded the Third Class Labor Medal by the President for its outstanding achievements in work, contributing to the cause of building socialism and defending the Fatherland.

Director of the People's Credit Fund of Bac Ly, Tran Ngoc Tuyen, said: In order to achieve the credit growth target in line with the ability to mobilize capital and control risks, in the past time, the unit has closely followed the socio-economic development goals of localities to appraise investment loans, promptly resolve issues for people; absolutely no harassment or bribery; strictly comply with the procedures and regulations in lending and loan management, actively collect debts... In 2024, the unit lowered the lending interest rate 4 times to create conditions for members to have the opportunity to continue production and business activities to repay debts. Thanks to borrowing capital from the People's Credit Fund, many households have developed their economy, improved their lives...

In addition to doing a good job professionally, the unit always actively contributes and participates in social security activities, showing gratitude, such as: Giving gifts to families of people with revolutionary contributions; supporting the construction of solidarity houses for poor households, supporting people affected by natural disasters and floods, giving gifts to the poor on the occasion of Lunar New Year, helping poor students go to school...

Bac Ly People's Credit Fund received the Third Class Labor Medal.

According to Mr. Tran Ngoc Tuyen, in order to meet the requirements and tasks, and improve credit quality, in the coming time, the unit will continue to increase credit growth in accordance with the State Bank's orientation, ensuring safety, efficiency, and suitability with the scale, capital structure, and risk management capacity, especially credit in expanded areas. Bac Ly People's Credit Fund prioritizes credit for agricultural and rural development, job creation, labor export, and effective production and business models; creating the most favorable conditions for members to access loan capital... Along with expanding lending, the unit regularly urges debt collection, strengthens bad debt handling, and coordinates with functional agencies to thoroughly handle long-term overdue debts, resolutely not losing capital; ensuring absolute safety in treasury work...

Thanh Hoa

Source: https://baoquangbinh.vn/kinh-te/202504/diem-sang-mo-hinh-quy-tin-dung-nhan-dan-2225777/