In the Vietnamese economic picture, low-income, disadvantaged households and micro-enterprises play an important role in creating jobs, improving people's lives and promoting local economic growth. However, financial barriers are always a major obstacle for them. In that context, Thanh Hoa Microfinance Institution (TCVM) was born as a breath of fresh air, providing flexible financial solutions, "support" for customers who are poor households, low-income, disadvantaged households, and micro-enterprises, thereby contributing to economic development, aiming for sustainable values.
The journey of perseverance and development
Microfinance first set foot in Thanh Hoa in 1998, starting as a small credit program established by the US Save the Children Organization with a small scale of operation and initial capital. However, it is the flexible and creative organization; credit products and lending methods that are "close and friendly", meeting the needs of customers who are poor households, low-income, and disadvantaged people, along with the responsibility and enthusiasm of officers and employees, that microfinance activities in Thanh Hoa have gradually developed. From the Thanh Hoa Microfinance Program (1998-2008), the Thanh Hoa Poor Women Support Fund (2008-2015), from March 2015 to present, the Thanh Hoa Microfinance Organization was established, being one of the four Microfinance Organizations licensed to operate by the State Bank.
This marks a strong turning point, creating momentum and strength, opening up many opportunities for Thanh Hoa Microfinance to steadily move forward and achieve remarkable results. This is not only a step forward for Thanh Hoa Microfinance but also an important turning point in the field of Microfinance in Vietnam. With the mission of supporting low-income and disadvantaged households and micro-enterprises to develop sustainably, the organization has continuously expanded its scale and diversified its financial products to meet the needs of a variety of customers.
From an organization initially operating in 8 districts, 109 communes and wards, after 10 years of construction and development, Thanh Hoa Microfinance has grown strongly, expanding its scope of operations to 21 districts, 245 communes and wards. The number of customers has continuously increased over the years, from 18,564 customers in 2015 to 57,000 customers in 2024; total outstanding loans have also grown impressively, from 104 billion VND to 563 billion VND.
Microloans – illuminating community economics
Statistics on customers, total outstanding loans... do not simply reflect the growth rate. The greatest honor and pride for the staff of Thanh Hoa Microfinance Organization is that this growth always goes hand in hand with contributions and efforts "for community development".
Since its establishment, Thanh Hoa Microfinance has helped tens of thousands of poor, disadvantaged, low-income households and micro-enterprises access flexible loans, reasonable interest rates, and simple procedures. Microfinance is not simply a loan, but also an economic lever that helps borrowers have the motivation and aspiration to escape poverty and improve their lives. With small but strategic capital, borrowers can invest in agricultural production, develop small business models, thereby increasing income and gradually improving the quality of life.
Not only providing credit products, Thanh Hoa Microfinance also focuses on improving customers' financial management capacity through financial education programs... Thanks to that, business households can use capital more effectively, know how to manage cash flow, optimize profits and build long-term business plans.
The impact of Thanh Hoa Microfinance is not only limited to each household but also spreads and has a strong impact on the local economy. When small businesses develop, they not only improve their own lives but also contribute to promoting the sustainable development of the local economy. Microenterprises gradually grow, create more jobs, contribute to the budget revenue, promote the implementation of the National Target Program on New Rural Construction; develop the economy and society of ethnic minorities and mountainous areas; reduce poverty sustainably...
Not only that, Thanh Hoa Microfinance also has many programs to support low-income households to access green business models, contributing to environmental protection and building a sustainable value system. Loans are prioritized for projects producing clean food, environmentally friendly materials, renewable energy, and sustainable livestock farming... This not only creates momentum for economic development but also helps the locality adapt to the green growth trend of the times.
Thanh Hoa Microfinance Institution always operates with the motto of balancing the interests of the organization and social interests. Therefore, in parallel with financial activities, Thanh Hoa Microfinance Institution also actively implements social security programs such as: Giving savings books to poor children overcoming difficulties in rural and mountainous areas; giving Tet gifts to poor households; helping children of customers in difficult circumstances to achieve their dreams; giving gifts to households in difficult circumstances on the occasion of Tet; giving gifts to poor children overcoming difficulties and policy households;... The gifts given are not only of material value, but above all, they are the hearts of the collective of cadres and employees in Thanh Hoa Microfinance Institution, wishing to spread love and share with many difficult circumstances, policy families, poor children overcoming difficulties to have more encouragement, motivation, joy...
Continue to reach out and spread value
With the achievements gained in the past 10 years, Thanh Hoa Microfinance has constantly innovated and expanded its operating model so that more and more customers can access loans, practical and effective credit products, useful training programs and classes...
In the context of an increasingly volatile economy, the demand for microfinance will increase. Thanh Hoa Microfinance with a clear strategic vision, professional operating system, and dedicated staff, continues to play the role of a reliable companion to tens of thousands of customers in Thanh Hoa province. Mr. Nguyen Hai Duong, General Director of Thanh Hoa Microfinance Organization shared: "The organization's future goal is to continue to become one of the typical microfinance units in Vietnam, creating more flexible and sustainable financial solutions."
The development of Thanh Hoa Microfinance in the past 10 years is not only a story of impressive growth figures, but also a journey to realize the dreams of escaping poverty, rising up to develop the economy, starting a business of tens of thousands of customers. As a financial institution for the community, Thanh Hoa Microfinance continues to affirm its position and mission in building a sustainable economy, where everyone has the opportunity to access finance and rise up to take control of their lives.
The development of TCVM is not only the story of the organization but also a joint effort for a prosperous community, a strong local economy, aiming for sustainable values...
Hoang Linh
Source: https://baothanhhoa.vn/tai-chinh-vi-mo-thanh-hoa-tron-thap-ky-hien-thuc-hoa-tam-nhin-su-menh-240386.htm
Comment (0)