The tireless efforts of the United People's Credit Fund

Customers are transacting at the Union Credit Fund

The journey of nearly 3 decades of construction and development of the Lien Hiep People's Credit Fund is a story full of efforts and will to rise. Established in November 1995 with only 30 members, the Fund has now become one of the leading strong, safe and effective units in the system of People's Credit Funds in the province. With a spacious headquarters in Lien Hiep commune and two transaction offices in Hiep An and Hiep Thanh, the Fund has been and is a reliable financial support for more than 3,000 members and communities in Lien Nghia town and 4 neighboring communes.

The growth in the period from 2019 to present has clearly demonstrated its worthiness of the Third Class Labor Medal. In the context of economic challenges due to the impact of the COVID-19 pandemic, unstable agricultural prices and fierce competition from other credit institutions, the Fund remains steadfast in its goal of safe and effective growth.

The "telling" numbers have shown the remarkable development of the Fund. Total capital has continuously grown at an average rate of nearly 14%/year, reaching 672 billion VND by September 2024. Capital mobilized from savings deposits from residents has also grown impressively, reaching 617 billion VND. In particular, outstanding loans have always remained high, reaching 549 billion VND, as of September 2024; at the same time, ensuring credit quality with a bad debt ratio of 0 throughout this period. This shows that the Fund not only expands its scale of operations but also focuses on risk management and protecting members' capital.

Not only focusing on business activities, the Union People's Credit Fund also demonstrates a high sense of responsibility to the community. In the period of 2019 - 2024, the Fund has provided credit capital of up to VND 4,312 billion to more than 11,492 loan members, making an important contribution to the implementation of new rural construction programs, high-tech agricultural development, coffee replanting and improving social security for local people. These activities have contributed to repelling "black credit", bringing stability and socio-economic development to the area. At the same time, every year, the Fund actively participates in local social and charitable activities. The total funding for these activities in the period from 2019 to present is VND 3.3 billion.

In addition, the Fund always focuses on improving management capacity, applying science , technology and innovation. The effective implementation of information technology software, applying innovative experiences in accounting document management, increasing capital mobilization and developing safe credit have contributed to improving the Fund's operational efficiency and reputation. In particular, initiatives aimed at supporting members and providing capital for the poor and ethnic minorities have clearly demonstrated the Fund's humanitarian spirit and social responsibility.

The work of building a strong unit is also of special concern to the Union of Credit Funds. The unit always ensures the safety of the agency, safe operations, fire prevention and fighting. During the COVID-19 pandemic, the Fund has implemented effective epidemic prevention and control measures, protecting the health of officers, employees and customers. Organizing regular, public, democratic and law-abiding member congresses has strengthened the trust and commitment of members to the Fund.

Caring for the lives of staff is also an important factor creating the internal strength of the Union of Credit Funds. The unit always creates conditions for staff to improve their professional qualifications, fully implement policies and regimes, care about their material and spiritual lives, create a working environment of solidarity, attachment and high responsibility.

“The honor of being awarded the Third Class Labor Medal this time is a result of the work and dedication of the staff of the Union People's Credit Fund over many periods and over a very long period of time. This is a great honor for the staff and workers of the Fund, and also a heavy responsibility, especially for the next generation like us today. In the coming time, to promote the achievements of many previous generations, the staff of the Union People's Credit Fund will continue to strive even harder, to achieve more important results. In the immediate future, the orientation of the Board of Directors of the Union People's Credit Fund is to promote the role of governance and management of the leadership team; enhance the spirit of solidarity and determination within the organization; continue to maintain a stable and safe growth rate, strive to complete the targets and tasks set by the term congress, as well as the annual congresses of the Union People's Credit Fund in each term. "Out," Mr. Nguyen Hong Quan - Chairman of the Board of Directors of the United People's Credit Fund, shared.

Source: https://baolamdong.vn/kinh-te/202504/no-luc-khong-ngung-nghi-cua-quy-tdnd-lien-hiep-aaf00b8/