Promoting the effectiveness of savings and loan groups in Dien Bien Dong

Poultry farming model of veteran Lo Van Cuong, Nam Ngam village, Pu Nhi commune from loan capital from the Social Policy Bank.

Currently, the Transaction Office of the Social Policy Bank of Dien Bien Dong district has 253 Savings and Credit Groups with 10,827 customers, with a total outstanding debt of 435.6 billion VND. In recent times, Savings and Credit Groups have carried out propaganda, helping people use loans effectively; urging debt collection and collecting loan interest on time. In addition to managing loan sources well, many Savings and Credit Groups in the area have also done a good job of propagating credit policies so that group members can clearly understand and proactively participate; and be aware of paying interest on time and on schedule.

To improve the quality of the Savings and Credit Groups' activities, the Transaction Office of the Bank for Social Policies in Dien Bien Dong district has assigned credit officers to attend the Savings and Credit Groups' meetings to promptly convey the Party and State's new policies and guidelines on implementing policies for the poor and other policy beneficiaries. At the same time, directly answer questions from members and group members. Periodically, monthly inspections are conducted directly at the groups, and some production and livestock models of group members are visited to evaluate the effectiveness of loan capital use. In addition, the groups also periodically hold meetings once a month to review households in need of loans and to review and announce loan programs that have been implemented; information on the capital use situation of members... According to the assessment of the Transaction Office of the Bank for Social Policies in Dien Bien Dong district, up to now, over 96% of Savings and Credit Groups have been operating quite well. Thanks to that, the average interest rate of the unit is maintained at 99% or more; overdue debt accounts for only 0.15% of total outstanding debt, contributing to ensuring the quality of policy credit capital sources in the locality.

The Women's Union of Dien Bien Dong town is managing 4 Savings and Credit Groups, 173 customers with a total outstanding debt of over 12 billion VND. Over the years, the Women's Union of the town has always been a bridge to help women in the area access policy credit capital to develop household economy . From the loan capital, many members have invested in developing economic models in many fields such as: raising large livestock, growing crops, production and business... Thereby creating stable jobs, increasing income for many members.

Borrowing 100 million VND from the Savings and Credit Group of the Women's Union of Group 3, Dien Bien Dong Town, Ms. Lo Thi Hoan's family invested in building barns, planting elephant grass and buying buffalo breeds to develop a breeding model. Up to now, Ms. Hoan's family's breeding model has developed stably, creating jobs for family members, with an average income of 50 - 60 million VND/year.

Ms. Lo Thi Hoan, Group 3, Dien Bien Dong town said: Through the Savings and Credit Group, my family has access to policy capital to invest in developing large livestock farming in the direction of family farms. In the coming time, I plan to continue to access other policy credit programs to expand the scale of production.

Ms. Luong Thi Dinh, Head of the Savings and Credit Group of Group 3, Dien Bien Dong town, said: In order for members to grasp the preferential credit policies of the Government , the group regularly propagates and informs members through association activities and residential group meetings. Guides members to borrow to invest in developing appropriate and effective production and business models. Along with that, the group regularly checks, urges, and reminds borrowers to use the loan capital for the right purpose. In addition, the group does a good job of propaganda so that borrowers participate in saving money to create a source of capital for loans in the area. Thanks to the effective operation of the Savings and Credit Group, many members have increased their income and improved their lives, contributing to the effective implementation of poverty reduction and black credit reduction.

Similarly, the Pu Nhi Commune Veterans Association is managing 4 Savings and Credit Groups, with 190 members. Total outstanding debt is 8.5 billion VND, with no overdue debt. Recently, the loan groups have regularly paid attention to receiving and managing entrusted capital, focusing on improving the credit quality and operational quality of the Savings and Credit Groups.

Veteran Lo Van Cuong, Nam Ngam village, Pu Nhi commune said: Introduced and connected by the Commune Veterans Association, I was able to borrow policy capital from the Transaction Office of the Social Policy Bank of Dien Bien Dong district to invest in building cages and raising poultry. Up to now, the economic model has been effective, creating jobs, bringing the family an average income of 80 - 100 million VND/year.

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