The People’s Credit Funds of Phuoc Hoa in Phu giao district and Phu Hoa in TDM town are exemplary role-models in the cooperative economy of the province.

*Phuoc Hoa People’s Credit Fund: Flexible, creative

Since late 3rd quarter of 2011, many credit organizations have strengthened their capital mobilization via promotion programs, creating strong creativeness in this field. But, with its own advantage, Phuoc Hoa People’s Credit Fund has still maintained operation.

 Clients making transactions at Phuoc Hoa People’s Credit Fund

Between 2009 and 2011, Phuoc Hoa People’s Credit Fund fulfilled most targets and gained solid development. It last year reached nearly VND292bln in total capital, up over VND119bln; VND275.551bln in mobilized capital, up VND114.4mln; over VND121.5bln in total outstanding loan, up nearly VND35bln and beyond 5% of the plan; over VND5.6bln in pre-tax profit, up nearly VND4blb and beyond 41.57% of the plan.

2011 was seen as a year Phuoc Hoa people’s credit fund made many breakthroughs in business with service quality, IT application…reaching new features. With such efforts, it has become the State Bank of Vietnam’s first unit allowed to implement electronic money transfer service.

Vu Van Dau, director of Phuoc Hoa People’s Credit Fund said that thanks to its clients and members’ trust and frankly suggestions, Phuoc Hoa People’s Credit Fund has continued improve service quality and staff’s qualification at clients’ demand…

Phu Hoa People’s Credit Fund: Plan fulfilled early

In 2011, Phu Hoa People’s Credit Fund got impressive figures with total mobilization capital reaching VND140bln, up 40% compared to 2010. The People’s Credit Fund also provided more than VND105bln in loan, up 38%; increased its chartered capital to VND5.246bln, up 59%; reached VND2.9bln in pre-tax profit, up 70%. Upon effective operation, it has so far lured 5,211 members.

Vu Khac Toan, CEO of Phu Hoa People’s Credit Fund said: “…As of mid-November, we fulfilled 2011’s plan with targets exceeding nearly 30% compared to the corresponding period of last year”.

To achieve the above results, Phu Hoa People’s Credit Fund has taken good care of clients with appropriate programs, including focusing on giving loans with subsidized interest rates for agricultural production, animal husbandry; speeding up loan-giving programs on credit via mass organizations…The People’s Credit Fund has also learnt to better service quality and make flexible plans suitable to clients…, helping it get good growth.

Apartedly, Phu Hoa People’s Credit Fund has sufficiently executed tax obligations and regularly got involved in social charity activities for sake of public welfare.

Reported by Truc Quynh-Translated by K.T