People apply for loans at Ngu Loc People's Credit Fund, Van Loc commune.
Early in the morning, at the Ngu Loc People's Credit Fund, Van Loc Commune, there were many customers coming to transact. Many people came to pay interest, repay debts and ask about mobilization interest rates. Ms. Le Thi Ha in Thanh Lap village came to pay interest on a 700 million VND loan from the fund to serve the family's economic development. Ms. Ha excitedly said: "Every time my family needs to borrow money or save money, I always receive enthusiastic guidance from credit staff. The loan procedures are simple, so my family's loan requests are always met promptly within 24 hours. Thanks to the fund always creating favorable conditions for borrowers, over the years, my family and many other members where I live have achieved many good results in production and business. The factor that attracts customers of the Ngu Loc People's Credit Fund is the closeness and friendliness of the staff, and over the years, it has created peace of mind and trust for the people".
QTDND Ngu Loc is licensed to operate in 6 communes of the old Hau Loc district, including: Ngu Loc, Minh Loc, Hung Loc, Hai Loc, Hoa Loc, Phu Loc, now Van Loc and Hoa Loc communes. As of early August 2025, QTDND Ngu Loc has nearly 5,000 members with a total capital of more than 450 billion VND. Thanks to attracting a large amount of idle money from the people, the fund has had capital to boost investment in households engaged in seafood processing and exploitation, production and service establishments, etc. Capital from the fund has solved loans for more than 1,000 members, with outstanding loans reaching nearly 300 billion VND. Members use loans for the right purposes, promote efficiency, pay on time, and the overdue debt ratio is below the prescribed level. At the same time, it promotes the role of developing member economies, limiting the situation of "black credit", contributing to ensuring social security, and is highly appreciated by local authorities.
Not only the Ngu Loc People's Credit Union, many other People's Credit Unions in the province are also making efforts to overcome difficulties and maintain stable operations. According to statistics from the Provincial Cooperative Union, the province currently has 67 People's Credit Unions; of which 64 People's Credit Unions are operating effectively, 3 ineffective People's Credit Unions are under special control. The total operating capital and asset value of the People's Credit Union system reached nearly 9,300 billion VND, of which mobilized capital reached more than 8,500 billion VND; outstanding credit reached nearly 6,400 billion VND. The People's Credit Union system has developed, gradually affirming its role and position in the new cooperative economic model, as a channel to provide capital for members and farming households, thereby contributing to production development, job creation, income and improving the lives of members.
However, in addition to the positive results, the operation of the QTDND system in the area still has many shortcomings and difficulties that need to be overcome, such as there is still a part of the QTDND that has not closely followed the operational goals, has shown signs of pursuing purely business motives, has not strictly followed credit procedures, so there are still potential risks in operations, affecting the safety of the system. These are negative and unhealthy phenomena, breaking the principles and meaning of the QTDND. The development and diversification of banking services (money transfer, card payment...) of most funds is still limited. Along with that, due to the arrangement and change of administrative units, the land records of households must adjust information. This process takes a lot of time, directly affecting the disbursement progress of the fund and the investment needs of the borrowers. In addition, the QTDND system operates mainly in agricultural areas, most members have low borrowing needs, leading to low efficiency in capital exploitation.
In order to promote its role as an effective loan support channel, promote household economic development, especially in rural areas, the State Bank of Region 7 is directing the People's Credit Funds in the area to implement solutions such as: operating in accordance with the goals, principles, and safety to increase competitiveness; investing in machinery, technology, diversifying financial products as well as civilized and modern payment services; increasing access to the fund's capital for members. Thereby, actively contributing to the transformation of economic and labor structures, creating jobs for people, and sustainable poverty reduction...
Article and photos: Duc Thanh
Source: https://baothanhhoa.vn/gop-phan-phat-trien-kinh-te-ho-khu-vuc-nong-thon-257573.htm
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