Bright spot of people's credit fund
In 2024, Dien Duong People's Credit Fund (Dien Ban) was honored to receive the Emulation Flag from the Executive Committee of the Vietnam Cooperative Alliance. This is an award recognizing the efforts of the Dien Duong People's Credit Fund in developing the collective economy .
Mr. Nguyen Van Manh - Chairman of the Board of Directors of Dien Duong People's Credit Fund said that the unit's main activities are mobilizing capital on the spot for on-site lending, with members acting as both members and customers.
The loan fund helps members have capital to invest in developing production and business, creating jobs for workers, contributing to limiting usury, and implementing the policy of hunger eradication and poverty reduction.
By the end of 2024, the total number of members joining Dien Duong People's Credit Fund will be 3,317 people (an increase of 812 members compared to 2020); total operating capital is 162.7 billion VND.
In 5 years (2020 - 2024), nearly 3,000 members have borrowed capital with a loan turnover of more than 379 billion VND. Total outstanding loans as of December 31, 2024 are more than 79 billion VND (an increase of 25.8 billion VND compared to 2020); no overdue debt. Total profit after tax in 5 years is more than 4.6 billion VND...
The credit fund has promptly met the capital needs of members for loans to invest in production and business, develop cultivation, livestock, purchase fishing gear and provide services in the area. The results achieved in the past time are due to the credit fund's flexible implementation of many solutions. In which, it has built good trust and reputation with members and people.
Build close relationships with party committees at all levels, local authorities, departments, branches and organizations to effectively carry out propaganda and mobilization work for members and people to contribute capital, deposit savings and use credit fund services.
“Throughout its operation from 2020 to present, although its scale is still small and its operating area is limited to 2 wards, Dien Duong People's Credit Fund has promptly resolved the services and capital needs of its members.
Thereby affirming that the people's credit fund is a bridge between members and working people, becoming a financial channel with enough power to promote household economic development, effectively carry out poverty reduction work, and contribute to local socio-economic development" - Mr. Nguyen Van Manh shared.
Promoting cooperative funds
According to the Provincial Cooperative Union, in the field of credit, the province currently has only 3 people's credit funds. Although the number is not large, the credit funds have been active and flexible in mobilizing members, increasing charter capital and increasing locally mobilized capital, meeting the production and business needs of members.
The funds have ensured that members borrow for the right purpose, promote efficiency, repay on time, and the overdue debt ratio is below the prescribed level. As of March 31, 2025, the total operating capital of the 3 funds was more than 525.3 billion VND, attracting 13,428 members to participate and creating stable jobs for 51 people.
With stable operations, credit funds have promoted their role in supporting economic development for members, limiting black credit, contributing to ensuring social security, and have been highly appreciated by local authorities.
Over the past time, all three credit funds have been profitable, exceeding their annual plans. With their contributions, the people's credit funds have become an effective channel for capital mobilization and lending in rural areas.
At the provincial level, after converting to a one-member LLC model according to Decree No. 45 dated March 31, 2021 of the Government , the Provincial Cooperative Fund has continued to perform well its function of supporting preferential loans for cooperatives, cooperatives and members of cooperatives and cooperatives to serve production and business development.
Mr. Le Ngoc Trung - Chairman of the Provincial Cooperative Union said that as of December 31, 2024, the Provincial Cooperative Fund had a charter capital of more than 121 billion VND. During the year, it disbursed to 104 members of cooperative groups, cooperatives and 7 cooperatives with a total amount of 48.6 billion VND (reaching 108% of the plan assigned by the Provincial People's Committee).
From January to April 2025, the Cooperative Fund has disbursed to 18 customers with a total amount of more than 8.2 billion VND. The preferential loans from the Provincial Cooperative Fund have helped cooperative groups, cooperatives and members invest in machinery and equipment, build factories to develop production and business, and create jobs for members and workers. This is considered an effective capital support channel to help the collective economic sector invest and develop.
Quang Nam currently has 667 cooperatives and 2,978 cooperative groups. Of the 667 cooperatives, there are 429 cooperatives in the agricultural sector, 34 in the industrial sector and 151 in the trade and service sector. The leaders of the Vietnam Cooperative Alliance assessed that the Quang Nam Cooperative Fund is among the top provinces and cities nationwide, leading the Central Highlands region.
Source: https://baoquangnam.vn/quy-tin-dung-tap-the-o-quang-nam-phat-huy-nguon-von-hop-tac-3156991.html
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