Bank for the poor - Lang Son Newspaper and Radio and Television

The head of the savings and loan group conducts transactions at the transaction point in Dong Quan commune, Loc Binh district.

It has become a tradition that on the 21st of every month, savings and loan groups (S&L), poor households and policy beneficiaries in Khang Chien commune, Trang Dinh district come to the Commune People's Committee to pay interest, principal, and deposit savings... to the Vietnam Bank for Social Policies.

Mr. Nguyen Trung Hieu, Chairman of Khang Chien Commune People's Committee, said: Preferential loans are disbursed through commune transaction points with simple and convenient loan procedures, helping people save a lot of time and costs. Accordingly, the Commune People's Committee has arranged a convenient location for the District Social Policy Bank Transaction Office to organize transaction points. At the commune transaction points, people can also grasp information about loan amounts, loan interest rates, loan procedures, and new policies of the State. Up to now, the commune has 12 savings and credit groups, nearly 200 households borrowing capital with outstanding loans of over 23 billion VND.

Currently, the provincial branch of the Vietnam Bank for Social Policies is implementing 19 preferential credit programs, with a total outstanding loan balance of over VND 5,300 billion, for over 90,300 borrowers. Up to now, the disbursement rate at the commune transaction point has reached over 99%; principal collection has reached 97.8%; interest collection has reached 99%.

Not only in Khang Chien commune, currently, the Provincial Social Policy Bank Branch has conducted transactions in 194/194 communes, wards and towns in the whole province. Every month, on a fixed day, the mobile transaction team will be fully equipped with tools and equipment to conduct transactions with customers like a "miniature" bank to lend, collect debts, collect interest, receive savings deposits, receive loan applications, handle debts, etc.

At the commune-level transaction sessions, bank staff directly disburse, collect debts, collect interest, and answer people's questions related to the borrowing process and loan use. In addition, preferential credit policies and lists of customers borrowing capital as well as information on conditions, processes, and procedures for borrowing capital from each lending program of the Social Policy Bank are publicly posted on the policy credit information board at the commune People's Committee.

Ms. Ly Thi Nga, Ban Ha village, Bac Lang commune, Dinh Lap district said: In 2024, my family borrowed 100 million VND from the Social Policy Bank to plant and take care of forests. Borrowing, repaying debt, and paying interest every month are all done right at the commune transaction point, so it is very convenient, saving a lot of costs and travel time during the borrowing process. In addition, any questions about interest rates, loan terms, debt extension periods, etc., I was clearly explained by credit officers and savings group officers right during the transaction session, without having to go to the bank.

Activities at commune transaction points not only facilitate households to borrow capital but also help capital management work more closely and effectively. After each transaction, bank staff meet with the Poverty Reduction Committee, entrusted socio-political organizations, and heads of local savings and credit groups to promptly resolve difficulties and problems arising at the grassroots level; along with that, actively propagate and disseminate new policies and contents that need to be coordinated and implemented in the following month.

Mr. Tran Sy Dao, Deputy Director of the Bac Son District Social Policy Bank Transaction Office, said: In recent years, the District Social Policy Bank Transaction Office has always proactively organized and maintained a fixed transaction schedule at 18 commune and town transaction points. The transaction points conduct transactions on a fixed day of the month. Accordingly, on the basis of creating favorable conditions for people to participate in transactions, the unit builds a suitable transaction schedule from the 5th to the 14th of each month, with the main transaction hours being after 8:00 a.m. Along with performing the tasks of disbursement, debt collection, interest collection, and savings collection, bank staff also actively propagate and disseminate new policies and contents that need to be implemented in the following month to improve credit quality in the area. Thanks to that, up to now, the overdue debt rate in the area only accounts for 0.3% of the total outstanding debt.

In order to contribute to improving the quality of operations at commune transaction points, recently, the Provincial Branch of the Vietnam Bank for Social Policies has installed a surveillance camera system at transaction points to help the bank control the compliance with regulations of bank staff, heads of savings and credit groups, and people when transacting at the commune. Along with that, the People's Committees of communes, wards, and towns arrange locations for commune transaction activities to take place smoothly. Currently, the Provincial Branch of the Vietnam Bank for Social Policies is implementing 19 preferential credit programs, with a total outstanding loan balance of more than VND 5,300 billion, for over 90,300 borrowers. To date, the disbursement rate at commune transaction points has reached over 99%; principal collection has reached 97.8%; interest collection has reached 99%.

Mr. Phan Anh Thang, Deputy Director of the Provincial Branch of the Vietnam Bank for Social Policies, said: The commune transaction points of the Provincial Branch of the Vietnam Bank for Social Policies have been operating very effectively in the past time, the organization of transactions always complies with regulations. Thereby helping poor households and policy beneficiaries grasp information on preferential loan policies without having to wait for the transaction date. In addition, the commune transaction points are also equipped with suggestion boxes and hotlines for households, organizations, and unions to monitor the implementation of credit policies. Thereby, limiting loss, embezzlement, and misuse of capital, creating people's trust in the policy credit activities of the Vietnam Bank for Social Policies. For many years, the results of assessing the quality of policy credit activities at the commune level have been classified as good; credit quality is guaranteed, the overdue debt ratio accounts for only 0.06% of total outstanding debt.

Commune transaction points not only create favorable conditions for households to borrow capital but also help capital management to be more strict and effective. In the coming time, the Provincial Branch of the Vietnam Bank for Social Policies will continue to effectively implement solutions to improve the quality of operations of transaction points in communes to ensure safety, efficiency and compliance with procedures and regulations, thereby helping poor households and other policy beneficiaries access preferential loans quickly and conveniently, creating motivation to escape poverty sustainably.

Source: https://baolangson.vn/diem-giao-dich-xa-ngan-hang-luu-dong-cua-nguoi-ngheo-5047267.html