Constantly innovating, improving the quality of services, operating in accordance with the goals, principles, safety and efficiency, the People's Credit Fund (QTDND) of Cao Xa commune, Lam Thao district has contributed to connecting the community, meeting the capital needs for investment loans to develop production and business of members, promoting local socio -economic development. QTDND of Cao Xa commune was established in 1996. At the beginning of its establishment, the material facilities were still lacking, the new staff was not familiar with the monetary field, the number of members was only 126 people, so operations had difficulties.
From the loan capital of the People's Credit Fund of Cao Xa commune, Mr. Cao Tien Cong's household, zone 1, Cao Xa commune invested in barns and raised egg-laying chickens, bringing high economic efficiency.
With the motto of "giving full trust, keeping reputation", during the establishment process up to now, the Board of Directors of Cao Xa Commune People's Credit Fund has always focused on building a management apparatus and a team of enthusiastic, dedicated, united, and dedicated staff serving customers, competing with the spirit and attitude of service, along with consulting customers on effective use of capital. To attract members, the Fund creates conditions for members to enjoy on-site financial services with the most suitable conditions, while coordinating with local authorities, associations, unions and through forms of propaganda and mobilization so that local people understand and clearly see the role and significance of People's Credit Fund in improving life and developing the community, thereby being willing to participate as members of People's Credit Fund. The Fund also pays special attention to building strict internal regulations, strictly implementing legal regulations, and seeking the help and support of local authorities to ensure stable and safe development for the Fund.
The Fund's operating area is adjacent to Viet Tri city, with many commercial banks, so the competition is quite large. However, taking advantage of being close to the people, understanding the needs of the Fund's customers who borrow capital, mostly to serve the development of small-scale production and business models, and understanding the needs, financial situation, and payment ability of customers, the form and procedures for lending are simple, suitable, and reasonable interest rates have attracted people. At the same time, the Cao Xa Commune People's Credit Fund closely follows the direction of the banking sector, the orientation of local socio-economic development, and learns about the needs of households to borrow capital and deposit money to develop appropriate plans and regulations. Thereby, implementing credit solutions well, contributing to joining hands with the locality to implement the poverty reduction program, improving the lives of people in the area.
From the results, in June 2019, the Fund expanded its operations to Vinh Lai commune, a commune adjacent to Cao Xa, with a fairly developed economy and potential for good exploitation of credit activities. To create favorable conditions and meet the needs of the people and members, in 2021, the Commune People's Credit Fund had an additional Transaction Office located in Vinh Lai commune. To date, the Fund has more than 1,900 participating members, with a total operating capital of over 327 billion VND, and the Fund's total outstanding loans of about 275 billion VND with over 640 loans. Cao Xa Commune People's Credit Fund is currently one of the two Funds with the largest operating capital in the entire People's Credit Fund system in the province.
Mr. Nguyen Gia Hoang - Director of the People's Credit Fund of Cao Xa Commune affirmed: “One of the leading solutions that the Board of Directors and the Board of Directors of the People's Credit Fund of Cao Xa Commune especially focus on is to expand credit activities, lend to the right subjects; proactively apply a flexible interest rate mechanism, regularly send staff to inspect and review loans to ensure that members use the capital for the right purposes. The settlement of loans is convenient, strict in terms of legal procedures but does not cause trouble for members and customers, creating and increasing trust in the community and is a reliable address for people when they need to borrow capital and deposit money. The Fund also promptly updates information of borrowers on the CIC credit information lookup system to ensure loan quality”.
With a professional service attitude and style, quick and friendly procedures when transacting, and at the same time preparing enough cash to fully pay the principal and interest when customers have a need, the Fund has established its reputation with the people. Along with that, the Fund takes members as the center of its activities, with many preferential policies for its members. The Fund encourages customers to deposit money to join the membership, retaining members by continuing to offer preferential interest rates for members higher than for regular depositors.
Faced with the increasing demand for credit and lending activities, Cao Xa People's Credit Fund always focuses on improving the professional qualifications of the Fund's staff. Currently, the Fund has 15 staff, of which 13 have university degrees, 15/15 have completed professional training courses according to the regulations of the State Bank.
In the coming time, the Fund will continue to strictly implement the regulations of the State Bank of Vietnam on the mechanism for adjusting interest rates for deposits and loans in Vietnamese Dong, and directive documents related to the activities of the People's Credit Fund. Proactively grasp the situation, socio-economic developments and the market to adjust business plans and targets accordingly, ensuring safety and efficiency. Continue to train and improve management and operational capacity to quickly access mechanisms, policies, apply information technology and have solutions for sustainable development of the Fund.
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