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This is a special activity, unique to the People's Credit Fund. At least once a month, the People's Credit Fund of Cu Mgar district, Dak Lak province, organizes fixed transactions at the commune People's Committee headquarters, equivalent to 12 times a year. Depending on the capital source and the people's borrowing needs, the People's Credit Fund can organize additional transaction sessions.
At transaction points in the commune, the Bank is fully equipped with machinery, equipment, human resources as well as professional activities to serve people through transaction teams. Also here, the Social Policy Bank of CuMgar district publicizes preferential credit policies for poor and near-poor households and other policy subjects; receives loan applications, disburses, collects debts, collects interest, collects savings, implements debt settlement procedures... In addition to performing professional transactions, with the motto that each bank officer is a propagandist, propagandizes the Government's preferential credit policies and guidelines, products and services of the Social Policy Bank, and answers people's difficulties and problems related to social policy credit activities.
Thereby, many poor and near-poor households, policy families, and ethnic minorities in need of loans have access to capital sources, products, and services of the Vietnam Bank for Social Policies; are guided on how to borrow and how to use capital for the right purpose, effectively, and strive to have a prosperous life.
Many households have changed their way of thinking and doing, overcome difficulties, and strived to escape poverty sustainably and stabilize their lives. Ms. Nguyen Thi Dao, Head of the Savings and Loan Group in Hring Hamlet, Ea Hđing Commune, Cu M'gar District, Dak Lak, happily said: "The majority of Hring Hamlet's residents are ethnic minorities, their economic life and means of transportation face many difficulties, so the fact that the VBSP organizes monthly transactions in the commune has created many favorable conditions for the people, they do not have to spend much time traveling and also save costs.
Not only that, people are also consulted, guided, and have access to many preferential loan sources, so they are very happy. My group has 60 households borrowing capital with more than 2.5 billion outstanding loans, and all group members use it for the right purpose, paying interest and principal on time. In addition, group members also participate in monthly savings to accumulate debt repayment resources to reduce the pressure of debt repayment when due."
CuMgar District Social Policy Bank organizes transactions in communes to carry out credit work.
To help poor households, near-poor households and other policy beneficiaries access preferential capital sources in the fastest and most complete way, meet capital needs, create jobs, increase income, develop the economy, and stabilize their lives. The district's Social Policy Bank always receives close attention and direction from Party Committees and local authorities to create favorable conditions for the transaction hall, arrange security forces, etc., along with the coordination of entrusted socio-political organizations, the management team of savings and loan groups, and the village executive board to regularly follow the grassroots, propagate and mobilize group members to comply with regulations on borrowing capital and use loans for the right purposes.
As of October 30, 2023, the total outstanding loan programs of the Social Policy Bank of Cu M'gar district reached 471,188 million VND, with 11,792 households still having outstanding loans, an increase of 55,260 million VND compared to the end of 2022, a growth rate of 13.30%.
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