People's Credit Fund System focuses on stable and sustainable development

With support from loans from Phuong Dinh People's Credit Fund (Truc Ninh), the local silk weaving craft village has developed sustainably.

There are currently 42 People's Credit Funds in the province with a total of 44,229 members, each People's Credit Fund has an average of more than 1,000 members. As of April 29, 2025, the total operating capital of the People's Credit Fund system in the province reached more than VND 5,647 billion, an increase of VND 133 billion (2.41%) compared to 2024, with an average of VND 134.4 billion per People's Credit Fund. The capital mobilized from deposits of members, residents, and economic organizations accounts for a high proportion of the total capital with VND 5,059 billion (accounting for 89.5% of the total capital), an increase of VND 202.6 billion (4.17%) compared to 2024. Outstanding loans to members of People's Credit Funds reached more than VND 4,416 billion. In addition, for regulated deposits, Co-opBank Nam Dinh Branch always promptly adjusts and applies reasonable and appropriate mobilization interest rates, encouraging Funds with excess capital to deposit at the Cooperative Bank to have more resources to regulate for Funds with large capital needs.

In line with the digital transformation trend of the banking industry, contributing to the Government's goal of promoting cashless payments; connecting rural - urban areas, bringing banking and financial services at reasonable costs to localities; and at the same time creating a foundation for developing retail products on digital channels, the People's Credit Funds in the province marked their transformation with a series of digital banking products such as: Co-opbank Mobile Banking, Co-opbank Napas Card, GenZ Card for students, 24/7 fast transfer at the counter, Top up and pay bills at the counter, develop payment by scanning QR codes at production and business households; open pension payment accounts for the Fund's customers... Through modern digital banking products, the People's Credit Funds have enhanced their reputation, strengthened their position, diversified their products and brought many benefits to their members.

To improve the quality of digital banking services, Co-opBank Nam Dinh Branch regularly registers for specialized training courses and new training for QTDND officers and employees. 40/42 QTDND have participated in the CF-Ebank electronic money transfer system and NAPAS 24/7 money transfer. Many QTDND have installed POS card receiving devices and equipped with QR Codes to facilitate people and customers to transfer money and make payments through the banking system. By the end of April 2025, the turnover of outgoing money transfers through the CF-Ebank electronic money transfer system and NAPAS 24/7 money transfer was VND 4,985 billion with 20,351 items. The turnover of incoming money transfers reached VND 3,492 billion with 85,082 items. The QTDNDs have also coordinated with Co-opBank to open 3,269 payment accounts for member customers and develop more than 2,000 payment accounts using QR codes for production, business households and small traders in localities. In general, the QTDNDs system in the province has been operating safely and effectively in recent times, making an increasingly important contribution to timely capital support for members to develop the economy, improve their lives, create jobs, and is an important capital mobilization channel that actively contributes to the process of developing the agricultural and rural economy and building new rural areas in localities; at the same time, limiting usury in rural areas.

Established in 1995, with the efforts of the Board of Directors and members, Dai An People's Credit Fund (Vu Ban) operates safely and sustainably, contributing to poverty reduction and performing well the work of supporting members, helping people gradually improve their lives. By the end of 2024, the total operating capital of the Fund will reach 144.5 billion VND. The total mobilized savings capital will reach 132.9 billion VND, of which capital mobilized from members will reach 80.55 billion VND, accounting for 60.6%. The total outstanding loans at Dai An People's Credit Fund will reach 88.6 billion VND with 535 members borrowing capital. Of which, outstanding loans in Dai An commune will reach more than 65.5 billion VND with 384 customers, and loans in Quang Trung commune will reach more than 23 billion VND with 151 customers. Operating effectively for many years, Dai An People's Credit Fund is one of the credit funds with good and sustainable growth rates in the province, creating trust with customers. Thanks to loans from the People's Credit Fund, many members who are farming households have had the conditions to develop production, increase income, stabilize their lives, and actively contribute to building their homeland according to the new rural criteria. Members who borrow capital from the fund all use the loan capital effectively and for the right purpose. All loan needs are assigned to responsible staff by the fund to review and appraise quickly and accurately, with time calculated in hours. The fund regularly focuses on improving the qualifications, capacity and ethics of the fund's staff; focuses on building a professional working style for staff, linking benefits with the effectiveness of assigned work; at the same time, pays attention to investing in construction and purchasing equipment to serve business activities. The fund always ensures safety in currency transportation, improves labor efficiency, services are performed quickly and saves maximum costs.

With the goal of gradually improving the quality of operations, ensuring that the QTDND system in the area operates in accordance with legal regulations, safely, effectively and sustainably, in the coming time, the State Bank of Vietnam Region 7 will continue to direct and closely monitor the implementation of the restructuring plan associated with bad debt settlement of QTDNDs in the area. Improve the quality of inspection and supervision of the QTDND system to rectify, promptly warn, prevent risks and violations, strictly handle according to regulations for QTDNDs with violations, especially violations that have been warned, repeated violations or slow to correct; proactively transfer files to the police agency of cases with signs of violations; ensure that QTDNDs operate in accordance with their principles, purposes and in accordance with legal regulations. The People's Credit Funds proactively adjust their strategies and business plans in accordance with market developments and socio-economic development conditions in the area of ​​operation; focus on improving financial capacity, management and control; credit quality, risk prevention; strictly comply with regulations on safety in operations, regulations on debt classification, provisioning and use of reserves to handle risks in banking operations. Diversify products and services, maximize advantages in the operations of the People's Credit Funds to improve access to capital and financial services for members, contribute to economic development, ensure social security, and implement sustainable poverty reduction in the area of ​​operation.

Article and photos: Duc Toan

Source: https://baonamdinh.vn/kinh-te/202505/he-thong-quy-tin-dung-nhan-dan-tap-trung-phat-trien-on-dinh-ben-vung-50d5c0d/