In nearly 30 years of accompanying the community, through activities providing "friendly and effective" financial and non-financial services, Thanh Hoa Microfinance Organization (TCVM) has written inspiring stories, proudly contributing to bringing positive changes, adding motivation, confidence, and encouraging the will of tens of thousands of customers to rise out of poverty, affirm their self-worth and contribute to society.
Credit, micro-savings – awakening willpower, opening the door to the future
Throughout the journey of construction and development, from being a small credit program that few people knew about, Thanh Hoa Microfinance is now one of four microfinance organizations licensed to operate by the State Bank of Vietnam. Looking back on the journey, the most important thing and also the greatest pride of Thanh Hoa Microfinance is always being steadfast in its goal of serving the community, for the advancement of women, contributing to sustainable hunger eradication and poverty reduction.
Efforts to expand the market and determination to bring capital to cover more mountainous districts are among the key tasks of Thanh Hoa Microfinance in 2024. To achieve that goal, the tireless footsteps of Thanh Hoa Microfinance staff have left their mark on all roads, from bustling cities to remote villages, overcoming the sun and rain, wading through streams and forests, carrying loan capital like a flame of hope, helping people develop the economy and rise from difficulties.
Currently, the total number of customers using the services of Thanh Hoa Microfinance Institution is 56,964 people, an increase of 4.4% over the same period last year, of which 20,845 people participate in borrowing capital (85% of borrowers are women, 14.3% are ethnic minorities). Outstanding loans have grown continuously over the years, reaching 563.4 billion VND in 2024, an increase of 15.6% over the same period in 2023. The overdue debt ratio decreased by 0.3% over the same period... In 2024, Thanh Hoa Microfinance Institution expanded its area of operation to 2 more districts and towns, with 20 communes and wards, 66 transaction points; 17,483 loans were disbursed. With attractive, reputable savings programs, high safety and security, Thanh Hoa Microfinance has attracted 36,871 customers to voluntarily deposit savings with a balance of up to 405 billion VND. In 2024, the savings balance will grow impressively, creating a solid foundation for sustainable development.
These impressive figures clearly demonstrate the efforts of the management board and staff of Thanh Hoa Microfinance Bank. Each disbursed capital and each savings deposit is a testament to the dedication and tireless efforts of the staff, and a commitment to stick together and accompany the community in the journey to build a better future.
Continuing the growth momentum, firmly entering the new era of the country
In the strong flow of the new era, when microfinance is identified as a pillar to promote comprehensive finance, Thanh Hoa Microfinance has a deeper awareness of the value of innovation in both thinking and action. Mr. Nguyen Hai Duong, General Director of Thanh Hoa Microfinance Organization shared: "Not only providing comprehensive financial solutions to the community but also contributing to promoting sustainable development, especially in remote, isolated and coastal areas - where the socio-economic conditions and people's lives are still difficult and arduous". With the spirit of creativity, flexibility in digital transformation and commitment "for the development of the community", Thanh Hoa Microfinance has become a solid foundation for tens of thousands of households, small traders and small businesses to rise up, making practical contributions to the cause of building an increasingly prosperous country".
In 2025, expanding the area and scale of operations is still one of the top priorities of Thanh Hoa Microfinance Bank to bring convenience and experience, better access to loans for customers, especially in areas far from the development center. Accordingly, Thanh Hoa Microfinance Bank continues to set the goal of expanding its network of operations to 1 new district and 10 new communes and wards; opening 2 new transaction offices; aiming to serve 60,000 customers, of which 21,000 are borrowers; outstanding loans reaching 600 billion VND... These are not just financial figures but also a commitment to accompany customers in economic development and improving the quality of life. Each customer is a success story, a positive change, and a motivation for us to continue our journey. Along with that, greening credit is also one of the top priority goals at Thanh Hoa Microfinance in 2025 and the following years, in the context of climate change taking place globally...
The journey to 2025 is wide open with many opportunities and challenges. TCVM Thanh Hoa strives to flexibly promote the achieved results, is determined to overcome difficulties, and gradually overcome challenges to join the country's rising era, continue to bring practical values, promote sustainable development, and continue to write success stories with the community.
Article and photos: Hoang Linh
Source: https://baothanhhoa.vn/to-chuc-tcvm-thanh-hoa-va-hanh-trinh-truyen-cam-hung-thoat-ngheo-236755.htm
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