Commune transaction points, a bridge between the Social Policy Bank and the poor and policy beneficiaries

To best serve the poor and other policy beneficiaries, the Vietnam Bank for Social Policies (VBSP) branch in Quang Tri province has opened 125 transaction points at the headquarters of 125 commune, ward and town People's Committees. This "mobile banking" model is increasingly appreciated by local Party committees and authorities and supported by the people.

Transactions between policy bank staff and people at Cam Nghia Commune Transaction Point - Photo: ML

Every 7th day of the month, the commune transaction team is staff from the Vinh Linh District Social Policy Bank Transaction Office, present at the Vinh O Commune People's Committee. This is a fixed transaction schedule, including weekends, "on time" the bank staff is present on time to disburse, collect debts, collect interest, collect savings... for the villagers. Vinh O is the commune farthest from the center of Vinh Linh district, traveling is quite difficult due to the mountainous terrain, therefore, the Social Policy Bank Transaction Point in the commune is very meaningful to the people here.

According to Mr. Tran Van Tang, Chairman of Vinh O Commune People's Committee, the operation of the commune transaction point not only creates favorable conditions for poor and near-poor households and other policy beneficiaries to access capital in a timely manner, but also reduces costs, creating a monthly habit of coming to transactions to borrow capital, repay debts, and conveniently deposit savings (including Saturdays and Sundays).

“Before organizing the transaction session, the bank and the locality coordinate to organize a meeting to assess the situation of the savings and loan groups in the month, some tasks that have not been performed, grasp the situation of debt collection, interest, savings of customers of the savings and loan groups... The locality also directs the political and social organizations that are entrusted to propagate that borrowers pay interest to the group leader before the transaction date. The group leaders proactively grasp the loan demand, guide the loan procedures for households at home in accordance with the bank's motto "Transaction at home, disbursement at the commune", Mr. Tang said.

In the first 5 months of 2024, the Cam Lo District Social Policy Bank Transaction Office conducted 40 transaction sessions in communes and towns in the area.

To ensure high-quality trading activities, before each fixed monthly trading session, credit officers hold meetings to disseminate to the heads of savings and lending groups new policies and upcoming operational plans for more effective operations.

The team leaders also regularly and promptly update new policies and disseminate them to households that need loans or have borrowed. In addition, each bank officer and employee stays close to the area and the people; closely coordinates with political and social organizations to disburse social credit capital in a timely, effective and appropriate manner.

Cam Nghia is one of the prominent transaction points of the Cam Lo District Social Policy Bank Transaction Office. Here, signs and information boards about policy credit programs, interest rates, outstanding debts, hotline addresses, and work settlement procedures are posted publicly, fully, promptly, and in accordance with regulations so that people can grasp and access information clearly.

According to Mr. Le Huu Phuong, Chairman of Cam Nghia Commune People's Committee, the transaction schedule is fixed on the 7th of every month. To ensure the transaction takes place effectively, the commune always arranges a hall, tables and chairs and ensures security and order, preventing any unsafety for banks and customers.

During the trading sessions, the entrusted socio-political organizations also arranged for leaders to attend and supervise the entire process of the trading session; urged the heads of the savings and loan groups to arrive on time, attend the full meeting, and take full notes when attending the meeting, contributing to improving the quality of preferential credit capital sources.

Mr. Mai Vinh Trinh, Chairman of the Farmers' Association of Cam Nghia Commune, shared: “Since the Social Policy Bank started transactions in the commune, it has saved a lot of costs and travel time for people. The results are made public right at the transaction session, through which people will know which households are eligible for new loans, under which program; which households have paid off their debts; the amount of interest each household must pay next month... Without the loan capital from the Social Policy Bank with simple and convenient procedures, many households do not know when they will escape poverty.”

It can be seen that the implementation of commune transaction points is considered a practical solution in reforming administrative procedures, optimizing transaction time, demonstrating the sense of responsibility of bank staff towards the poor and other policy subjects, especially people living in remote, isolated and rural areas.

Mai Lam

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