Phu Thu People's Credit Fund (Kinh Mon)

Phu Thu People's Credit Fund has become a fulcrum for many members to develop the economy.

Proactive capital

Established in December 1995 with 11 founding members and an initial capital of 115 million VND, after nearly 30 years of operation, Phu Thu People's Credit Fund has grown strongly. To date, the unit has 2,949 members, total capital reaching over 421 billion VND, maintaining 3 transaction points in Phu Thu, Duy Tan, Hiep Son wards serving thousands of households, small businesses, and rural economic activities in the area. The capital mobilized from members' savings is over 389 billion VND.

The organizational structure is fully consolidated, 100% of staff have university degrees in finance and banking, ensuring effective and regulated operations.

Mr. Nguyen Van Hoai in Zone 2, Phu Thu Ward, specializes in furniture business and has just borrowed more than 1 billion VND to invest in machinery, purchase equipment for processing and producing tables, chairs, etc. Mr. Hoai said that the fund is very flexible, creating conditions for members to borrow capital to develop the economy with preferential interest rates, and also extending the principal repayment period, helping my family have a source of income to do business. The loan procedures are strict but not too complicated. The fund staff are very enthusiastic in guiding and regularly come to check on the family's production situation.

The Fund does not borrow from other credit institutions, 100% of the capital is mobilized from members and local people. The complete autonomy of capital sources affirms the trust of the community and the prestige of the unit. The Fund also exempts and reduces interest rates for many households affected by natural disasters, supports production reconstruction, especially aquaculture models and damaged agricultural farms.

Impressive business results

Officers and employees of Phu Thu People's Credit Fund serve customers attentively.

In the period of 2021 - 2024, the after-tax profit of Phu Thu People's Credit Fund, although adjusted according to the market situation, still remained positive at nearly 2 billion VND in 2024.

Notably, the average income of staff and employees reached 20 million VND/month. This is a high level in the cooperative sector. The Fund also fully implements its obligations for social insurance, health insurance, unemployment insurance and policies for employees.

Not only stopping at credit activities, Phu Thu People's Credit Fund is also an exemplary unit in social and charitable activities. Every year, the fund allocates more than 100 million VND to actively participate in the movements "Tet for the poor", "Repaying gratitude"; supporting the construction of cultural residential areas; sponsoring an orphan in special circumstances with a budget of 30 million VND in 5 years.

With a self-assessment score of 87/100 and criteria achieving absolute scores in management, business efficiency and community responsibility, Phu Thu People's Credit Fund was honored with the "Cooperative Star" Award in 2025 presented by the Vietnam Cooperative Alliance.

Previously, the fund received a certificate of merit from the Governor of the State Bank, Chairman of the People's Committee of Hai Duong province, and for many consecutive years achieved the title of "Excellent Labor Collective" and was a typical national people's credit fund in 2010. This is also a typical unit of the province in lending activities, capital mobilization, and membership expansion.

The fund operates in accordance with the law and regulations, focuses on financial security, and is always ready to share difficulties with members.

Mr. Nguyen Huu Cuong, Chairman of the Board of Directors of Phu Thu People's Credit Fund, shared: "We clearly identify that reputation is a vital factor. Especially in the context of increasingly fierce competition between credit institutions, the trust of local people is the greatest achievement."

Ms. Nguyen Thi Thu Huong, Chairwoman of Hai Duong Cooperative Union, said that with two consecutive awards of the “Cooperative Star” Award in 2024 and 2025, for Phu Thu People’s Credit Fund, the title is not a destination, but a milestone marking a journey of sustainable development. The Provincial Cooperative Union believes that with the achievements it has made, the fund will continue to innovate, be transparent, and connect with the community to not only be a fulcrum but also a driving force for local economic development.

MINH NGUYEN

Source: https://baohaiduong.vn/quy-tin-dung-nhan-dan-phu-thu-kinh-mon-ngoi-sao-hop-tac-xa-414049.html