In order to effectively implement the National Strategy for Inclusive Finance to 2025, with a vision to 2030, in recent years, Thanh Hoa Microfinance Institution (TCVM) has focused on investing and researching to develop a variety of basic financial products and services, targeting the target groups of inclusive finance.
Thanh Hoa Microfinance always strives to bring customers "friendly and effective" financial and non-financial products.
Within the permitted scope of operations, Thanh Hoa Microfinance Organization is currently providing friendly and effective financial and non-financial products to poor households, low-income households, and micro-enterprises in the province.
Micro-loan capital serves customers who need to invest in agricultural, forestry, fishery production activities, commercial business... or aims to improve the quality of life for low-income households through consumer credit measures such as: building new, upgrading and renovating sanitation and clean water facilities; building houses; investing in education (buying vehicles, school supplies, paying tuition for children); purchasing electrical and refrigeration equipment, purchasing means of transportation for work... The minimum loan amount is 1 million VND, the maximum is 100 million VND. The form of unsecured loans for groups or individuals, does not require collateral. Flexible loan terms from 6 - 24 months.
Along with providing loans, Thanh Hoa Microfinance Bank's savings products are designed to suit the target customers, including: compulsory savings, voluntary savings, micro-insurance products. Voluntary savings deposits for both microfinance and non-microfinance customers with competitive interest rates on the market. The minimum deposit is 50 thousand VND, the maximum is 1 million VND if deposited at the village cultural house or at the customer's home. Thanh Hoa Microfinance Bank cooperates with PTI Post Insurance Joint Stock Company to provide micro-insurance products including: Loan insurance and comprehensive health care insurance for organization members.
In order to support customers to access and use basic financial products and services conveniently and at reasonable costs, Thanh Hoa Microfinance Institution has many innovations, flexibility and creativity in the approach and organization of distribution channels. In addition to the traditional approach of Microfinance officers directly meeting, promoting and introducing products and services to customers or through the Women's Union and local authorities, Thanh Hoa Microfinance Institution also applies technology (via tablets and smartphones) to register loan customer information through the CCS software subsystem and online savings app to transact with customers who deposit savings right at the village cultural house with the smallest deposit amount, customers can deposit regularly without travel costs, convenient for travel, and secure customer information. This shows the determination of Thanh Hoa Microfinance Institution in innovating the method of operation and service provision, always taking customers as the center of service.
In addition to the advantages and achievements, microfinance activities have to face many difficulties and challenges. In order to promote the development of flexible financial products and services suitable for customers who are poor households, low-income households, micro-enterprises, especially in rural, remote and isolated areas, Thanh Hoa Microfinance has been and is continuing to synchronously deploy solutions. For credit products, Thanh Hoa Microfinance always focuses on carefully studying the needs, living conditions, thoughts and aspirations of customers to build appropriate credit products, close to actual needs. For savings products, Thanh Hoa Microfinance is providing term savings products and term deposits. Accordingly, in addition to regular savings products, Thanh Hoa Microfinance also designs savings products specifically for low-income households/ethnic minorities such as: Accumulated savings, future savings, and super flexible savings. The goal of the product is to encourage, support, and motivate low-income customers to start forming the habit and mindset of saving, saving small amounts of money over a long period of time to "nurture" the future or cope with risks in life. Customers can start saving with a minimum amount of 50 thousand VND, deposit and withdraw right at the village cultural house monthly, long-term deposits are encouraged.
Along with that, TCVM focuses more on expanding its operations to remote areas - places where access to financial services is difficult, the rate of people having transactions in the banking and finance sector is still very low. Therefore, the rate of ethnic minority customers is increasingly increasing in the total number of TCVM Thanh Hoa customers. This is one of the great efforts of TCVM Thanh Hoa to promote financial inclusion in Thanh Hoa province in particular and the whole country in general.
With the dedication, professionalism, and responsibility of the staff; flexibility and creativity in building credit products, taking the customer-centric motto, Thanh Hoa Microfinance Bank has increasingly affirmed its reputation and brand with customers and partners, and has been recognized and highly appreciated by local authorities. In recent times, Thanh Hoa Microfinance Bank has continuously expanded its operating area, increased outstanding loans, and helped more and more customers access "friendly and effective" loan sources. Currently, Thanh Hoa Microfinance Bank operates with 4 branches and 11 transaction offices in 229 communes, 22 districts, towns, and cities, with a total outstanding loan of 468 billion VND, and a total number of borrowers of 19,755 people. Thanh Hoa Microfinance Bank is truly a bright spot in the overall picture of Vietnam Microfinance Bank.
Article and photos: Hoang Linh
Source: https://baothanhhoa.vn/day-manh-phat-trien-san-pham-dich-vu-tai-chinh-vi-mo-219358.htm
Comment (0)