Applying digital technology to bring women closer to microfinance
On the afternoon of November 18, 2022, the delegation of the Central Vietnam Women’s Union led by Vice Chairwoman Tran Lan Phuong paid a working visit at TYM Hung Yen branch.
Here, Vice Chairwoman Tran Lan Phuong visited the model of growing oranges and pomelos of TYM members in Cong Luan village, Dong Thanh commune, Kim Dong district, Hung Yen province. After listening to the members’ reports on the use of TYM’s loans in the model as well as the members’ suggestions and recommendations, Vice Chairwoman Tran Lan Phuong encouraged TYM’s members to use the loan effectively, continue to promote economic development, increasing family income.
Reporting to the delegation on the operation situation from the beginning of 2022 until now, Ms. Nguyen Thi Chung, Director of TYM Hung Yen branch, said: “Currently, the branch is operating in 7 districts: Kim Dong, Khoai Chau, An Thi, Tien Lu, Phu Cu, Yen My and Hung Yen city, accounting for 70% of districts of the province; 55 communes/wards/towns, 34.2% of communes are implementing TYM activities. By October 2022, Hung Nguyen branch has 9,075 members, reaching 101.6% of the plan.
Director of TYM Hung Yen branch Nguyen Thi Chung reported to the delegation on the operation of the branch
Many activities have been implemented by the branch, in which the outstanding activities are supporting women to access financial services, economic development, and start-up. In the first 10 months of 2022, the branch disbursed VND 152.6 billion to 4,055 members (completed 95.2% of the plan). In which 2,500 projects are used for the purpose of cultivation and livestock, accounting for 61.6%; 980 projects used for commercial purposes accounted for 25%, other 575 projects accounted for 13.4%. Loan projects of members are used for the right purposes. Outstanding loan balance reached 99,342 billion dong.
For savings activities, TYM Hung Yen branch always propagates and mobilizes members to deposit savings from at least 5,000 VND/week. Currently, TYM Hung Yen members’ savings amount is: 108 billion VND, there are many members who have savings from 5 to 10 million VND at TYM, this amount is usually withdrawn and used in the purpose of paying school’s fees for children, buying fertilizer for crops when in season…
In addition, the branch has organized many practical and meaningful activities for members such as: Free health check-up, organizing sports festival, giving a subsidized home to a member’s family, giving a gift to a member’s family, donating to new rural projects, awarded scholarships to the children of members who achieved excellent grades…
Vice Chairwoman of Vietnam Women’s Union Tran Lan Phuong, General Director of TYM Pham Thi Thuy Linh (left) and Chairwoman of Hung Yen Provincial Women’s Union Doan Thi Nguyet (right) handed gifts to TYM members.
Noting the achievements of TYM Hung Yen branch, Vice Chairman of the Vietnam Women’s Union Tran Lan Phuong emphasized: Microfinance activities are always highly appreciated by the Party and State. Microfinance deployed in localities has contributed to limiting black credit, and at the same time creating favorable conditions for people to develop their household’s economy, and TYM has also performed well social activities, organized many meaningful activities for members.
Vice Chairwoman Tran Lan Phuong gave some notes to TYM’s staff in the coming time. It is necessary to raise the professionalism of TYM staff even higher. In addition, attention should be paid to strengthening internal inspection and control; checking the use of loans: lending to the right women, for the right purposes. In particular, TYM needs to strengthen the application of information technology through propaganda and support members to use mobile applications, transfer money through accounts … to bring financial credit closer with member women.