Support People's Credit Fund for cashless payment

Mr. Do Kim Lang (middle), Chairman of the Board of Directors of Vinh Kim People's Credit Fund, reviews and approves loan applications.

Vinh Kim People's Credit Fund, Cau Ngang District proposed that Co-opBank continue to prioritize loan capital, promptly meet the needs of members; support People's Credit Fund to implement the project of cashless payment, apply digital technology in transactions to improve competitiveness. Organize professional training and study with People's Credit Funds in other provinces.

Mr. Do Kim Lang, Chairman of the Board of Directors of Vinh Kim People's Credit Fund, said: After 29 years of operation, Vinh Kim People's Credit Fund has achieved many outstanding results. In 2024, the mobilized capital was 145 billion VND, and the profit after tax was over 1.4 billion VND. Up to now, many households borrowing capital from Vinh Kim People's Credit Fund have expanded production and business, bringing practical results, with a total outstanding loan of 125 billion VND for about 1,600 member households. In recent years, in addition to idle capital from the people, Vinh Kim People's Credit Fund has also borrowed capital from Co-opBank to invest in lending to members to change the structure of crops, livestock, production, business, services, etc. With the advantage of being close to members, understanding the needs, business capabilities, and finances of each member, the lending of Vinh Kim People's Credit Fund is timely, fast, and effective.

Recently, QTDND has cooperated with Co-opBank to provide electronic money transfer services to serve and support members conveniently. In 2024, QTDND will have a money transfer turnover of about 30 billion VND, nearly 500 items with a fee of nearly 20 million VND. At the same time, in coordination with Co-opBank, it will open card transaction accounts for QTDND members with nearly 200 payment accounts.

Mr. Luong Quoc Viet, Chairman of the Board of Directors of Long Ho People's Credit Fund, Vinh Long province, proposed that Co-opBank provide more support in terms of procedures and legal issues so that the Credit Fund can more effectively implement cashless payments to the people.

In the past time, Co-opBank Tra Vinh branch has promptly supported Long Ho People's Credit Fund in expanding loans, loans to meet payment capacity, syndicated loans, especially cashless payments, electronic money transfer services. Long Ho People's Credit Fund has implemented money transfer services since 2016. After a period of implementation, Co-opBank has promoted and upgraded the 24/7 CF ebank money transfer service to help transfer money faster. Long Ho People's Credit Fund has implemented salary payments through Co-opBank accounts since November 2024, making them easy to implement, fast and safe salary transfers, and moving towards cashless payments. Long Ho People's Credit Fund staff have installed and used Co-opBank's App, Add, easy to operate, fast money transfers, and convenient for payment. However, there are still difficulties because people do not know about Co-opBank, so Long Ho People's Credit Fund wishes to continue to be supported in cashless payments.

Mr. Nguyen Van Khiem, Director of Duyen Hai People's Credit Fund, said: In order to promote cashless payment activities, Duyen Hai People's Credit Fund has coordinated with Co-opBank to implement electronic money transfer, act as an intermediary to open accounts for customers, perform revenue sharing services, and pay salaries via accounts. At the same time, Duyen Hai People's Credit Fund regularly promotes customers to pay interest and principal by bank transfer; invests in QR code scanning equipment to make it more convenient for customers and avoid confusion in transferring money to pay debts.

In 2024, the Duyen Hai People's Credit Fund mobilized 173 billion VND, an increase of 6 billion compared to the same period in 2023. The total outstanding loan balance reached 155 billion VND. In 2025, the Duyen Hai People's Credit Fund developed 146 more members, increasing to 1,630 members. Outstanding loan balance was 165 billion VND, mobilized capital was 180 billion VND,... To achieve the above results, in the coming time, the Duyen Hai People's Credit Fund proposed that Co-opBank act as the focal point and play the role of capital regulator for the Credit Fund system in urgent situations...

Article and photos: MY NHAN

Source: https://www.baotravinh.vn/kinh-te/ho-tro-quy-tin-dung-nhan-dan-thanh-toan-khong-dung-tien-mat-44544.html