For nearly 30 years, through its commitment to providing "friendly and effective" financial and non-financial services, Thanh Hoa Microfinance Organization (MFO) has written inspiring and proud stories, contributing to positive change, providing motivation, confidence, and encouragement to tens of thousands of clients to overcome poverty, affirm their self-worth, and contribute to society.
Microcredit and micro-savings – unleashing willpower, opening the door to the future.
Throughout its journey of establishment and development, from its humble beginnings as a small, little-known microcredit program, Thanh Hoa Microfinance Institution (MFI) is now one of four microfinance institutions licensed by the State Bank of Vietnam . Looking back on its journey, the most important thing and also the greatest source of pride for Thanh Hoa MFI is its unwavering commitment to serving the community, promoting the advancement of women, and contributing to sustainable poverty reduction.
Expanding the market and resolutely bringing capital to more mountainous districts is one of the key tasks of Thanh Hoa Microfinance in 2024. To achieve this goal, the tireless efforts of Thanh Hoa Microfinance staff have left their mark on every road, from bustling cities to remote villages, braving sun and rain, wading through streams and crossing forests, carrying loan capital as a flame of hope, empowering people to develop their economy and rise above difficulties.
Currently, the total number of customers using the services of the Thanh Hoa Microfinance Organization is 56,964, an increase of 4.4% compared to the same period last year, of which 20,845 people are borrowing capital (85% of borrowers are women, 14.3% are ethnic minorities). Outstanding loan balances have grown continuously over the years, reaching VND 563.4 billion in 2024, an increase of 15.6% compared to the same period in 2023. The overdue loan rate decreased by 0.3% compared to the same period... In 2024, the Thanh Hoa Microfinance Organization expanded its operating area to include 2 more districts and towns, with 20 communes and wards, 66 transaction points; 17,483 loans were disbursed. With attractive and reputable savings programs, and a high level of safety and security, TCVM Thanh Hoa has attracted 36,871 customers to participate in voluntary savings deposits with a total balance of up to 405 billion VND. In 2024, the savings balance grew impressively, creating a solid foundation for sustainable development.
The impressive figures clearly demonstrate the efforts of the leadership and staff of TCVM Thanh Hoa. Each disbursed loan and each savings deposit is proof of the dedication and tireless efforts of the staff, a commitment to staying connected with and accompanying the community in building a better future.
Continuing the growth momentum, we confidently step into a new era for the country.
In the powerful flow of the new era, where microfinance is identified as a pillar for promoting financial inclusion, Thanh Hoa Microfinance Organization has a deeper understanding of the value of innovation in both thinking and action. Mr. Nguyen Hai Duong, General Director of Thanh Hoa Microfinance Organization, shared: “We not only provide comprehensive financial solutions for the community but also contribute to promoting sustainable development, especially in remote, coastal areas – where socio-economic conditions and people's lives are still difficult and challenging.” With a spirit of innovation, flexibility in digital transformation, and a commitment “for the development of the community,” Thanh Hoa Microfinance Organization has become a solid support for tens of thousands of households, small traders, and small businesses to thrive, making practical contributions to building a more prosperous nation.
In 2025, expanding the scope and scale of operations remains a top priority for Thanh Hoa Microfinance, aiming to provide greater convenience, a better experience, and improved access to loans for customers, especially in areas far from development centers. Accordingly, Thanh Hoa Microfinance continues to set goals to expand its network to include one more district and ten new communes/wards; open two new transaction offices; serve 60,000 customers, including 21,000 loan recipients; and achieve outstanding loan balances of 600 billion VND... These are not just financial figures, but also a commitment to supporting customers in economic development and improving their quality of life. Each customer is a success story, a positive change, and a driving force for us to continue our journey. Furthermore, greening credit is also one of the top priorities at Thanh Hoa Microfinance Institution in 2025 and beyond, amidst the context of global climate change...
The journey into 2025 is wide open with many opportunities and challenges. TCVM Thanh Hoa strives to flexibly build upon its achievements, resolutely and decisively overcome difficulties, and gradually surmount challenges to join the nation's era of progress, continuing to deliver practical value, promote sustainable development, and write more success stories with the community.
Text and photos: Hoang Linh
Source: https://baothanhhoa.vn/to-chuc-tcvm-thanh-hoa-va-hanh-trinh-truyen-cam-hung-thoat-ngheo-236755.htm
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