Whole province has 1,640 saving and loan groups

The province is now home to 1,640 saving and loan groups operating in all quarters and hamlets, with an average of 47 members per group, VND 50 million per member and more than VND2.36 billion per group.

Every month, these saving and loan groups organize their assessment of operational quality to consolidate opportunely for better efficiency. Therefore, at present, the number of saving and loan groups with good rankings accounts for over 98% of total. The activities of the saving and loan groups have actively contributed to effectively implementing the local social policies credit, acting as a bridge between banks and borrowers, contributing to the timely transmission of preferential credit sources to beneficiaries, ensuring publicity and democracy, creating socio-economic efficiency.

It is known that these saving and loan groups are established by socio-political organizations or heads of the quarters or hamlets and approved by the commune-level People's Committee with the tasks of implementing their operational conventions; propagandizing, guiding members about the State's guidelines and policies on policy credit and procedures for borrowing capital; propagandizing and mobilizing members to practice thrift, raise awareness in borrowing and repaying loans; urging members to use loans with right purposes, pay loans and interest on time...

Reported by T.V-Translated by Kim Tin

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