A fulcrum to help people access preferential capital sources

Implementing Directive No. 40-CT/TW, dated November 22, 2014 of the Secretariat on strengthening the Party's leadership over social policy credit, the Women's Union of Vinh Hung commune, Tay Ninh province has closely coordinated with the Transaction Office of the Social Policy Bank (SPB) of Vinh Hung to effectively manage and implement policy credit activities in the area through 19 Savings and Loan Groups (SGBs) directly managed by the Union.

Policy credit spreads to every household

The Savings and Credit Group was established to gather poor and near-poor households and other policy beneficiaries who need to borrow capital from the Vietnam Bank for Social Policies to develop production, create jobs and improve their lives. This is also where members support and supervise each other in using loans and repaying debts on time.

Clearly identifying the important role in transferring policy credit capital in a timely and appropriate manner, contributing to sustainable poverty reduction and ensuring social security, the Savings and Credit Group of Chien Thang Hamlet was established in 2015 and has so far attracted 53 members.

Thanks to the close direction of the Women's Union of Vinh Hung commune and the dedicated guidance of the staff of the Social Policy Bank, the group always maintains the principles of democracy, publicity, regular activities, encourages members to practice savings, ensures 100% interest collection, and does not incur overdue debt.

Ms. Binh (right) visits the snakehead fish farming model of Ms. Nguyen Thi Diem's ​​family.

The group management board is proactive in the work of considering and recruiting group members, approving loans, and checking the purpose of capital use. Monthly meetings have become regular and practical activities, contributing to raising the sense of responsibility of the members.

Up to now, the total outstanding debt of the Group has reached more than 3 billion VND with 5 loan programs: Poor households, near-poor households, students in difficult circumstances, job creation and clean water - rural environmental sanitation. Total savings of group members reached 327 million VND, the savings participation rate reached 100%. Notably, after more than 10 years of operation, the Group has maintained the achievement of no overdue debt, no outstanding interest.

Preferential capital has helped many households stabilize their lives. For example, Ms. Nguyen Thi Diem's ​​household borrowed 100 million VND from the job creation program to raise snakehead fish, earning more than 45 million VND in profit each year.

Or like Ms. Nguyen Thi Thanh Mai's family borrowed money for her two children to go to university; up to now, her eldest son has become an auto engineer, her youngest son continues to go to university. Ms. Mai's family situation was very difficult, with unstable income, but she and her husband always maintained their desire to send their children to a proper education. When accessing preferential loans from the Social Policy Bank, the family was able to cover all the education costs for their two children. The efforts of the members and the effectiveness of the policy capital have brought "sweet fruit" to her family.

This is one of the stories vividly demonstrating the effectiveness of the State's preferential credit policy - a source of motivation for families to escape poverty, stabilize their lives and create a better future.

Promoting the role of team leader, expanding the effectiveness of policy credit

Credit activities entrusted to the Social Policy Bank are identified as the core task of the Women's Union of Vinh Hung commune. Not only supporting members in economic development, this work also contributes to improving the quality of life of the Union, attracting members and promoting gender equality. This is also an important channel to achieve the goal of sustainable poverty reduction in the locality.

In particular, the role of the Savings and Credit Group Leaders is considered key in maintaining operational efficiency. A typical example is Ms. Nguyen Thi Binh - Head of the Savings and Credit Group in Chien Thang Hamlet. From the initial confusion, she has continuously learned and absorbed knowledge from training courses and support from the Social Policy Bank. With a sense of responsibility and dedication, she has effectively managed the entrusted capital, helping many group members access capital for the right purpose, develop the economy and escape poverty.

Ms. Nguyen Thi Binh (right) discusses the effectiveness of using student loans at Ms. Nguyen Thi Thanh Mai's house.

Deputy Director of the Vinh Hung Social Policy Bank Transaction Office Nguyen Ngoc Sinh commented: “With a high sense of responsibility, Ms. Binh always closely grasps the circumstances and loan needs of each group member. She proactively researches policy credit programs and guides group members effectively. Over the past 10 years, the group she is in charge of has always been ranked well, maintaining a rate of overdue debt and outstanding interest at 0%”.

Every month, Ms. Binh also participates in meetings at transaction points to promptly grasp new policies, disseminate them to team members and reflect difficulties and problems for coordinated solutions.

In the coming time, the Commune Women's Union will continue to promote and popularize credit policies, support people to access preferential capital sources; at the same time, propose the Vietnam Bank for Social Policies to add more capital sources for the job creation support program, help people expand production, stabilize their lives, and contribute to local socio-economic development./.

Ngoc Hue

Source: https://baolongan.vn/diem-tua-giup-nguoi-dan-tiep-can-nguon-von-uu-dai-a206853.html