Expanding the area, improving the efficiency of capital mobilization for the poor and low-income people

Closely following the organization's orientation and operational plan; based on the practical situation, Thanh Hoa Microfinance Organization (TCVM) - Thieu Hoa branch (hereinafter referred to as the Branch) has deployed the work, successfully expanding the area of operation in Yen Dinh and Vinh Loc districts. Since then, more and more poor and low-income people have had access to loans to escape poverty, stabilize their lives, and make practical contributions to the local development.

Expanding the area, improving the efficiency of capital mobilization for the poor and low-income people Thanh Hoa Microfinance Organization - Thieu Hoa Branch always strives to bring loans to a large number of poor and low-income customers.

Thieu Hoa Branch was established in 2015 with 2 affiliated units: the Branch Office in Thieu Hoa district and Dong Son transaction office. Up to now, the Branch's operating area has been constantly expanded, diversified in geographical locations from the plains to the lowland districts of the province including: Thieu Hoa, Dong Son, Ngoc Lac, Trieu Son, part of Yen Dinh and Vinh Loc districts. Outstanding loans to date have reached over 110 billion VND, with more than 13,000 participating members, of which more than 5,000 members have outstanding loan balances. In 2023, the Branch will approach and disburse to over 4,000 customers with a capital disbursement amount of over 153 billion VND.

In order to further spread the goal of "for community development", contributing to pushing back black credit, Thieu Hoa Branch has closely followed the organization's orientation and plan, constantly striving to expand its area of operation. Recently, the staff of the Branch has actively expanded its area of operation in Vinh Loc and Yen Dinh districts. Director of Thieu Hoa Branch Hoang Van Bien said: "The expansion of the area of operation has been evaluated and carefully studied by the leaders of the Microfinance Organization in terms of the socio-economic situation as well as the needs of the people. This is the most practical and effective way to bring "green credit" capital to every alley and every house for customers who are poor and low-income households to access faster and closer to the financial and non-financial services of Thanh Hoa Microfinance, contributing to sustainable poverty reduction, gradually pushing back black credit, creating momentum to promote the movement of building new rural areas, advanced and exemplary new rural areas in these localities".

During the expansion of the area, the Branch received much attention and support from local authorities and women's associations at all levels, creating the premise for Thanh Hoa Microfinance to reach its target customers more quickly. Along with that, the dynamic, proactive and creative staff create certain advantages for Thanh Hoa Microfinance. However, the competition between credit institutions, the complicated developments of black credit activities or communication work to villages and hamlets... are difficulties and challenges in the process of performing tasks.

Promoting advantages, gradually removing difficulties, in addition to maximizing the attention and creating conditions for all levels and sectors, the Branch has adjusted internal personnel work. The propaganda is divided into clusters and customer groups with 5-10 people/session to convey the content of Thanh Hoa TCVM activities more fully and clearly. Creating close connections with local authorities and village women, thereby building an effective team of collaborators.

In response to efforts to improve the efficiency of capital mobilization so that more and more poor and low-income customers can access friendly and effective loan sources, it is expected that in the near future, Thanh Hoa Microfinance Organization will expand its operations to 15 communes and towns with over 50 villages and hamlets; aiming to establish 1 transaction office for 2 districts Yen Dinh and Vinh Loc. Along with that, many non-financial programs of the organization will be deployed and implemented such as: Female Entrepreneur Program; My Business Growth Program; Personal financial management training courses for customers with 1-1 method..., connecting with localities to implement social security programs, thereby enhancing the reputation, image and position of Thanh Hoa Microfinance Organization...

Article and photos: Hoang Linh

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