Depositing money through savings and loan groups helps many families save money.

The savings rate has gradually increased.

As usual, on the 20th of every month, Ms. Nguyen Thi Kim Phung - Head of the savings and loan group in Residential Group 4, Ninh Hiep Ward, Ninh Hoa Town, goes to the borrower's house to collect savings and interest. At the house of Ho Thi Hoa (borrowed 50 million VND from the job creation program to open a pork stall), when hearing about the difficult business situation, Ms. Phung shared with Ms. Hoa's family; at the same time, she encouraged the borrower to save according to their income. "My family borrowed capital since 2022, and now still owes 20 million VND. Although business is sometimes favorable, sometimes difficult, I always try to save small amounts to participate in full savings every month, considering this a form of family accumulation," Ms. Hoa shared. Currently, the savings and loan group in Residential Group 4 has 60 borrowers with an outstanding debt of more than 2.4 billion VND. Recently, 100% of borrowers have participated in monthly savings with a deposit amount of nearly 230 million VND.

Transaction activities of the Social Policy Bank in Vinh Phuoc ward, Nha Trang city.

In charge of the area with borrowers mainly doing small business and trading around Nha Trang University, Ms. Do Lai Trung Thu - Head of the Hon Chong 2 Savings and Loan Group (Vinh Phuoc Ward, Nha Trang City) proactively follows the business situation of the group members to encourage people to actively participate in saving. Ms. Thu always propagates so that borrowers understand the purpose of saving to ensure the ability to repay debts on time and build a habit of saving for the family economy . Currently, the group has 24 borrowers with outstanding loans of 790 million VND, the amount of savings through the group reaches 70 million VND. Every month, 100% of borrowers save, an average of 500 thousand VND to 1 million VND/household.

According to the report of the provincial branch of the Vietnam Bank for Social Policies, Nha Trang and Ninh Hoa are the two localities with a high rate of monthly savings deposits by members according to the operating convention of savings and loan groups; while the two districts of Khanh Son and Khanh Vinh have lower rates than the average rate of the whole province. Specifically, as of May 22, the savings balance of members through savings and loan groups in the whole province reached 269.4 billion VND, an increase of 19.2 billion VND compared to the beginning of the year. By locality, Nha Trang has 50.8 billion VND in savings deposits through groups, the rate of participating members reaching 89.6%; Ninh Hoa 56.9 billion VND, the rate of members reaching 88.5%; Cam Ranh City 41.3 billion VND, the rate of members reaching 85.5%; Cam Lam district 36.8 billion VND, the rate of members reaching 85%; Dien Khanh district 26.9 billion VND, the rate of group members depositing reached 82.2%; Van Ninh district 41.1 billion VND, the rate of group members depositing reached 81.1%; Khanh Son 6.3 billion VND, the rate of group members depositing reached 76%; Khanh Vinh 8.8 billion VND, the rate of group members depositing reached 59%. According to statistics by associations and organizations receiving entrustment, the rate of households depositing savings through groups of the Provincial Women's Union reached 85.2%; the Provincial Veterans Association 84.3%; the Youth Union 83.6%; the Provincial Farmers' Association 82.2%.

Strive to achieve the targets assigned by the Central Government

Although the rate of participation in savings deposits of group members through savings and loan groups in the whole province has increased compared to the beginning of the year, it is still low compared to the target assigned by the Central Government (target assigned at 90%). Therefore, the provincial Social Policy Bank and the entrusted associations and organizations are implementing many solutions to increase this rate. Mr. Le Van Thanh - Director of the provincial Social Policy Bank said that in addition to performing the task of lending capital to poor households and other policy beneficiaries, the provincial Social Policy Bank will actively coordinate with the entrusted socio -political organizations to propagate to borrowers to participate in saving deposits through savings and loan groups; strive to have the rate of savings deposits through groups in the province reach 91% by June 30. In particular, the propaganda work focuses on the purpose of saving deposits to help the poor and other policy beneficiaries raise their awareness of saving, have conditions to repay debts and interest, reduce the burden when the deadline comes and at the same time create a habit of saving for the poor. The head of the savings and loan group is the person who directly mobilizes, monitors, and collects monthly savings from members. Therefore, the provincial People's Credit Fund also strengthens training and fosters communication and propaganda skills; and skills in using the Policy Credit Management application for group leaders.

Ms. Ho Thi Hoa (left), Ninh Hiep ward, Ninh Hoa town, deposits savings to the team leader.

The policy of mobilizing savings deposits through savings and loan groups is implemented on a voluntary basis. The groups themselves set regulations on deposit time, minimum savings deposit amount for each group and maximum 2 million VND/person/month. To increase the rate of savings deposits through groups, provincial associations and unions also direct grassroots levels to review and grasp the difficulties, needs and concerns of borrowers in the process of making savings deposits. Thereby, promptly providing appropriate support solutions, accompanying borrowers.

MAI HOANG

Source: https://baokhanhhoa.vn/kinh-te/202505/gui-tien-qua-to-tiet-kiem-va-vay-von-giup-nhieu-gia-dinh-co-tich-luy-1d31668/