During the past 15 years, Phuoc Hoa People’s Credit Fund in Phu Giao district has always gone along with the local development.

Vu Van Dau, director of Phuoc Hoa People’s Credit Fund said that when being set up, the People’s Credit Fund only lured 17 members with total charter capital of VND50mln and VND8mln in profit for the first year. After 15 years of operation, the People’s Credit Fund has constantly developed, contributing to well realizing the local targets on socio-economic development.

So far, Phuoc Hoa People’s Credit Fund has had more than 5,100 members with total capital of more than VND304bln and annual pre-tax profit reaching more than VND4.6bln.

The People’s Credit Fund has also actively got involved in social charity activities, including presenting awards worth VND134mln to 1,200 turns of poor-but-excellent pupils; upgrading 1 gratitude house and donating 1 charity house; visiting and presenting gifts to 300 turns of members and poor people.

In the coming time, Phuoc Hoa People’s Credit Fund will continue luring additional 2,000 or 3,000 members; strive to reach a growth by 20% in terms of the total outstanding loan, capital mobilization and other targets. The People’s Credit Fund will also continue well realizing policies for members as well as social welfare policies…

With achievements done over the past years, Phuoc Hoa People’s Credit Fund has been appreciated as an effective business model in Phu Giao district, contributing to effectively realizing the local targets on socio-economic development in the next years.

Reported by Hoai Phuong-Translated by K.T