Client success stories
The contribution of a veteran, a VBSP loan borrower in inclusive financial activities
(VBSP News) Mr. Luong Dinh Thang, living in Bac Son, a mountainous district of Lang Son province, is a Leader of Savings and Credit Group – who is also a hero of Na Nhi village people that helps them to access VBSP’s inclusive financial services and is a successful example of loan usage.
Mr. Thang (right) regularly visits the economic development models of group borrowers
In 2002, Mr. Thang was assigned to be the Leader of Savings and Credit Group in Na Nhi Village. Mr. Thang said: “In initial stage, the awareness of people about borrowing loan from banks for economic development was very limited. Therefore, the communication was very hard. Besides communicating at the village meetings and mass organization meetings, I had to accompany with mass organization staffs and VBSP officers come to each household to encourage them in borrowing. At the same time, I guided people how to use loan effectively and suitably for each circumstance”.
After the people understood and boldly borrowed, the loan dossiers review was made more strictly. Being a group leader who is closest to the people, he must carefully consider which households are capable of repaying debts, working hard or who need orientation before borrowing. For those members who have difficulty in loans usage and regulations, do not dare to invested, afraid of potential risks and diseases, he encouraged and helped them have confidence, motivation and loan responsibility.
Mr. Thang is also the first person in the village to borrow money from VBSP to raise buffaloes and cows. “In the past, I raised more than a dozen buffaloes and cows. At this age, my children don't want me to work hard, so I sell them for savings, leaving only 4 buffaloes to feed” said Mr. Thang.
Mr. Hoang Dinh Tuyen is a member of the savings and credit group managed by Mr. Thang. “Seeing that Mr. Thang was using loan efficiency, I asked him for help and he was willing to support me. In 2017, I borrowed VND 50 million to raise breeding livestock with a noodle maker. After repaying the loan, at the end of 2018, I continued to borrow VND 50 million to invest in fish farming and chickens. Up to now, my family has a stable annual income of nearly VND 100 million, I can afford for my children to go to school.
Back in 2002, Mr. Thang’s savings and credit group had 24 poor households. Now, his group has only 2 poor households who are gradually escaping from poverty in the next year. Thanks to boldly investing, many households have stable incomes of between VND 50 million and VND 150 million per year.
Mr. Dong Huu Hoang Y Nguyen, Chairman of the Veterans' Union Association said that Mr. Thang is a dynamic, enthusiastic and responsible leader, who is dedicated to support people access loans for economic development. He himself has borrowed VBSP several times which is an example for people to follow and self-grow.
In the past 17 years, Mr. Thang has 7 times received the merit from Chairman of Bac Son District People's Committee; twice received certificate of merit by VBSP and many years have been praised by VBSP for his positive contribution in inclusive financial activities.
- VBSP client success stories
- Having a better life thanks to VBSP inclusive finance
- A successful customer story in De Sua village
- Getting rich from VBSP’s inclusive finance
- An exemplary leader of Savings and Credit Group
- Students access inclusive finance for education
- The journey of escaping from poverty
- Improve livelihood from access to inclusive finance services
- Livelihood improvement from VBSP's credit
- Escaping from poverty thanks to preferential capital
- A typical Group Leader in Dak Nong province
- Having capital to plant Ginseng, Tu Mo Rong people escape from poverty
- Small capital gains great momentum
- NAM DAN: Take advantage of policy credit for new rural development
- Tourism is developed thanks to the Job Creation Program
- Savings help poor households feel secured to get credit
- HCMC wants poor and near-poor to have access to loans from VBSP
- Vietnamese government supports employees, small businesses and firms amid COVID-19
- Poor households in border region assisted through pandemic
- Pandemic-hit employers to access interest-free loans to pay staff
- Farmers create a considerable fortune from preferential loans
- Escape from poverty thanks to preferential loans
- Helping farmers to recover production after epidemics - VBSP Quang Ngai province
- Newsletter Vol 21
- Guideline on lending for employers to pay job severance wage for their wokers
- Online training conference on lending employers to pay salaries for their employees
LENDING INTEREST RATE
DEPOSIT INTEREST RATE