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Updated: 2021-10-27 10:15:54

An exemplary leader in implementing the preferential credit

(VBSP News) Farmers' Association in Phuoc Dong commune, Go Dau town (Tay Ninh) is managing 13 savings and credit groups, with 497 active borrowers, with total outstanding loans of VND 11,086 billion. The groups strictly followed the credit process of VBSP, in which, the most notable was the Savings and Credit group in Cay Trac Hamlet, led by Duong Van Rum (born in 1964).

Duong Van Rum discussed with the Chairman of Phuoc Dong Commune Farmers' Association

As a leader, over the years, Rum has always performed his duties well, paying attention to propagandizing members about the Party's guidelines and policies, including preferential credit loans for poor households and other policy beneficiaries.

He also regularly mobilizes, inspects and reminds his members to use loans for the right purposes. Moreover, he has deployed the conventions in accordance with the group's regulations and operations, strictly complying with the credit process of VBSP. Since then, the quality of the group's operation has become increasingly stable and effective. Also, contributing positively to the results of VBSP's operation in Phuoc Dong commune.

In the past 5 years, Rum has always performed well under the authorization contract signed with VBSP branch in Go Dau district on collecting interest and savings deposits from members. Until now, he has fully participated in VBSP transactions in the commune. By the end of 2020, the Savings and Credit group in Cay Trac hamlet has 47 members, with a total outstanding loan of VND 1,067 billion. The savings balance reached more than VND 264 million.

In particular, the whole group has no overdue debt and no debt is embezzled or appropriated. His group has completed 100% of the assigned credit plan targets. In addition, his group has always successfully completed the targets of the Farmer's Union.

Chairman of Farmers' Association in Phuoc Dong Commune shared that the Savings and Credit group in Cay Trac Hamlet has performed very well in collecting interest and savings, with no overdue debts, and has been classified as an excellent group. Duong Van Rum was recently awarded a Certificate of Merit by the Chief Representative of the Board of Directors of VBSP branch in Tay Ninh province for his achievements over 5 years of implementation policy credit in the period 2016 - 2020.




Poor Households

Lending to poor households 6,6%/year
Lending to poor households in 64 poor districts as stipulated by the Government Resolution No.30a in 2008 3,3%/year

Near Poor Households

Lending to near poor households 7,92%/year


Lending to disadvantaged students 6,6%/year

People in need of loans for job creation

Lending to business establishments owned by war invalids and handicapped persons 3,3%/year


Term Deposit Rate
Overnight 3,04%/year
1 week 3,23%/year
2 week 3,5%/year