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Updated: 2022-02-14 15:39:56

Communist Party of Vietnam’s 92nd founding anniversary: a dedicated party member

(VBSP News) “Exemplary, dedicated” are words to describe Mr. Nguyen Van Minh - Head of the Veterans' Association, cell secretary and the leader of Savings and Credit Group.

Mr. Nguyen Van Minh is talking with the local people

Minh has played as a concrete bridge between residents and VBSP, who brings the preferential credit to residents to support them escape from poverty, develop the economy for 10 years. As a leader of the Savings and Credit group, Minh has the insights of residents in La Gi to borrow preferential loans. There are 700 households in Ward 8, Phuoc Hoi village, La Gi; 4.000 people, who mostly come from other areas. In order to let all the households have opportunities to approach the preferential loans, Minh always actively researches the policies, follows his members closely. All the meetings of the Savings and Credit group held by Minh are always open, public to the members to support others to use loans, achieving practical results. Due to that, there haven’t been any negative activities or attitudes toward the meetings.

Minh always reminds himself to be an exemplary person with strong responsibilities for people to follow and gain trust from the member. Minh also coordinates well with socio-political organizations to motivate each household. Minh considered that preferential loans play an integral part to reduce poverty, develop economies. The number of poor households reduced significantly, from 30 to 5.

The members are mostly poor, near-poor household or just escape from poverty. They invest in breeding and trading. The loans also create jobs promptly for veterans. For example, Mr. Nguyen The Binh is a veteran seeking a job. Binh approaches the VBSP loans to invest in his business. He borrowed VND 20 million to open a small grocery and raise cows. Thanks to the loans, his family is able to make ends meet.

There are 51 members in the Savings and Credit group, managed by Mr. Minh. The total outstanding loans are VND 1,56 billion. There are 4 groups in Ward 8 with loans of VND 4 billion and 103 members. Minh is not only a dedicated leader, he is also a bright example for others. He has successfully motivated people to contribute to building 6 roads in the area. Minh is always trusted by the local people, hence he has been a cell secretary for 16 years.




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