30 years of formation and development (1994-2024), Tho Nghiep People's Credit Fund (QTDND), Xuan Truong district, Nam Dinh province has promoted and fulfilled the mission and tasks assigned by the Party and the State, which is a banking credit channel for the people, operating for the benefit of members, contributing to eliminating and preventing the evils of black credit and usury among the local people.
Create deep, strong roots for growth
As one of the first pilot funds of Nam Ha province (now Nam Dinh and Ha Nam provinces), Tho Nghiep People's Credit Fund was established and put into operation in early 1994, with a capital of just over 15 million VND and 18 members. Chairman of the Board of Directors of Tho Nghiep People's Credit Fund, Mr. Ngo Van Thiep, said that the first years of operation were full of difficulties. The staff working at the People's Credit Fund worked 3 shifts a week and their wages were not worth much, but they were always united, committed, dedicated, and determined to build an increasingly stable fund.
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| Capital fulcrum for people to develop economy |
In particular, despite those challenging days of the beginning, the Fund always paid attention to professional training and perfecting the team of managers, controllers, operators and employees of the QTDND. The Fund gathered dedicated, qualified, capable, experienced and prestigious staff working in the Party, government and agricultural cooperatives to focus on studying and training in banking operations at the headquarters of the State Bank of Vietnam, Nam Ha branch (now Nam Dinh province) in order to: Acquire basic initial knowledge and experience in the field of currency trading activities according to the requirements and regulations of the State Bank.
This is the prerequisite for the People's Credit Fund to be qualified to nominate and assign important positions in the management and operation apparatus of the People's Credit Fund. The staff and employees of the People's Credit Fund from its inception to the next generations have been basically stable, have high political awareness and responsibility, have a spirit of solidarity and unity, are dedicated to the Fund, are hard-working, and proactive in learning to advance. 100% of the Fund's staff have been trained and studied in advanced credit courses of the State Bank and the Banking Academy or in credit and monetary operation experience courses of relevant authorities. 100% of the Fund's staff currently have university degrees.
QTDND officers and employees regularly update, organize and thoroughly and promptly grasp the Party's policies, the State's laws, decisions, decrees, circulars... of the Government, relevant ministries and branches, and the timely direction of the State Bank. At the same time, seek the help of the Party Committee, the government, and the people of the two communes. Actively practice and study in all aspects to constantly improve qualifications, capacity, experience, grasp and closely follow the goals and socio-economic development programs of the Party Committee, the local government, and the Resolution of the Congress of members. Timely update information channels, especially the direction, announcement, warning, sudden and regular of the State Bank as well as actively learn and study the experiences, methods, measures, and skills on the effective operation of other funds. Closely follow the developments of the monetary market. Be serious about mistakes and weaknesses, stick to the area, learn and understand customers and members to mobilize deposits and make lending decisions correctly, quickly, promptly and effectively.
Continuously innovate to serve members
After 10 years of establishment, the activities were consolidated, completed and developed stably in 2004. With the consensus of the Party Committee and the government of Xuan Phu commune, the State Bank of Vietnam, Nam Dinh branch, granted a license to Tho Nghiep credit fund to expand its operations to Xuan Phu commune and from here, thanks to the attention and leadership of the Party Committee and the government of Tho Nghiep and Xuan Phu communes, Tho Nghiep credit fund's operations have grown more and more.
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| Bringing digital banking products to the people |
In 2016, with the support and assistance of the Nam Dinh branch of the Cooperative Bank, the Tho Nghiep Credit Fund, after meeting all the conditions regarding human resources, information technology level, facilities and capital, the Nam Dinh branch of the State Bank of Vietnam granted a license to the Tho Nghiep Fund to provide electronic money transfer services to perform collection and payment operations for members through the CF-ebank system of the Cooperative Bank.
From here, the fund's position was clearly raised. Members did not have to go to banks to transfer money or receive money, but went directly to their local credit fund to make transactions. From here, the fund's deposits increased significantly.
In 2024, Tho Nghiep People's Credit Fund is one of 9 funds selected to pilot as an account opening agent for the Cooperative Bank and the State Bank of Vietnam, Nam Dinh Province Branch, issued Decision No. 627/NADD-TTGS dated May 24, 2024. This demonstrates the development of the QTD system in general and Tho Nghiep People's Credit Fund in particular in developing digital banking and cashless payments. Tho Nghiep People's Credit Fund has also successfully implemented the 4.0 market plan dated June 7, 2024 of Xuan Truong District People's Committee on cashless payments.
Coming to Tho Nghiep People's Credit Fund, members and people all feel the intimacy and closeness, not only because the fund staff are close to the people, but also from the board of directors, the board of supervisors and the executive board to each fund staff who are disciplined, cultured, sincere and thoughtful; Always respect and listen to the opinions and contributions of customers and members. When an incident arises, there is a plan to handle it correctly, harmoniously, reasonably and emotionally. Unite, respect, love and help customers and members, creating friendliness, democracy and high consensus in the process of operation. The Fund considers the above actions to be the most important factor, the morality and the basis for completing the goals and plans set forth by the congresses of members of each term and the annual congress of delegates every year.
As of October 31, 2024, the number of members of Tho Nghiep People's Credit Fund has reached 1,941 members. The total capital of the fund is 243,923 million VND, Charter capital: 5,279 million VND, Funds are: 8,662 million VND. Deposits at Nam Dinh Cooperative Bank are: 77,658 million. Outstanding loans reached 162,472 million VND, an increase compared to 2020 of: 26,518 million VND. The loans of Tho Nghiep People's Credit Fund have contributed to enhancing the potential and strengths of member customers, having a direct impact, increasing, changing the capacity, position, and appearance of families, farms, workshops or businesses, creating jobs and income for member families. In particular, it has rapidly increased the volume of social products, contributed to hunger eradication and poverty reduction, built a new life, and a new rural face with hundreds and thousands of roads, houses, means of transport, and expensive household consumption. These results have actively contributed to the Party Committee and people of Tho Nghiep and Xuan Phu communes to successfully complete the socio-economic development goals of the locality.
Tho Nghiep Commune Party Committee Secretary, Mr. Tran Cong Trung, recognized that Tho Nghiep People's Credit Fund is an organization that contributes to making the implementation of the Commune Party Committee's Resolution more successful through supporting capital sources and banking services for people to develop the economy. "The commune cares about and trusts the fund's staff. Although it is a small force, the People's Credit Fund is also a bright spot of Tho Nghiep Commune. In particular, since Tho Nghiep People's Credit Fund was established in 2010, through the direction and operation of the Party Committee, the Fund's operations have been more effective when integrating the commune's economic development strategies and plans into the credit development direction," said Mr. Trung. Up to now, Tho Nghiep Commune is aiming to achieve advanced new rural standards. Currently, the average income per capita of the commune has reached over 80 million VND, with the poverty rate of only 0.12%.
In addition, Tho Nghiep People's Army has done quite well in social security work such as visiting heroic Vietnamese mothers during the holidays, encouraging young people to go on duty to protect the Fatherland, supporting the charity fund of local sectors and organizations in the area of operation, giving gifts to children in the area who are good at studying on holidays, Tet, historical events and local movements.
On April 16, 2024, it was a great honor that Tho Nghiep People's Credit Fund was selected as one of 12 credit funds nationwide along with 88 cooperatives to receive the 2024 Cooperative Star Award. Along with promoting the achievements of 30 years of construction and growth and the breakthrough efforts of each staff in the coming time, Tho Nghiep People's Credit Fund will continue to be worthy of being the leading flag in the People's Credit Fund system in Nam Dinh province./.
Source: https://thoibaonganhang.vn/qtdnd-tho-nghiep-diem-tua-giam-ngheo-phat-trien-nong-thon-moi-157819.html
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