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Updated: 2021-05-31 10:30:14

The dedicated leader of Savings and Credit Group

(VBSP News) As a leader of the Savings and Credit group in Cao hamlet, Lam Hoa commune, Tuyen Hoa district (Quang Binh), Pham Thi Lam has always dedicated to her work for 14 years. During that time, Lam has helped poor households and other policy beneficiaries to approach the credit schemes, launched by VBSP to escape from the poor.

Lam propagates the loans policy for local people in Cao hamlet

Although Lam is already 60 years old, she keeps the flame in her work. Besides family tasks, Lam always actively participates in the local activities. She was trusted and elected by the local people to be the head of the village, president of the local Women's union. She always completed the assigned tasks in any position. In 2007, she was trusted to be a leader of the Savings and Credit Group.

There were several difficulties during her first time as a leader because Lam didn't get used to management tasks. In particular, she didn't know how to propagate to make the locals understand and change their minds about policy credit to develop their business. Thanks to the dedicated guidance of VBSP staff, Lam gained knowledge and experiences in her work. Therefore, she can follow the bank’s instructions and the People's Committee, to implement the credit programs for the local people.

Cao hamlet is considered especially difficult in Lam Hoa commune. 100% of the locals are Ma Lieng people. The VBSP branch in Tuyen Hoa district disbursed the first time in 2007 with the interest of 0% and the maximum loans per household is VND 5 million. Before the disbursement day, Lam came to surrounding villages, asking for buffaloes, cows, etc. to ensure that the villagers could buy their animals in time when the loans were sent to their house. Regarding poor households who have a fear of borrowing money, Lam comes to each house to propagate the credit program, support them to apply for the loans. In terms of households that borrow the money, Lam ensures that the process is on time and democratic. Realizing the strength of Cao village is livestock, Lam actively propagates and motivates people to borrow money to raise cattle. Furthermore, she researches and learns about cattle to guide and support local people to take care of and prevent diseases for livestock. People living in Cao village have used the loans for the right objectives. Until now, lots of households have escaped from poverty and stable their life.

Pham Thi Luu is a typical case in Cao village, in which she borrowed VND 45 million in 2 credit programs from VBSP to raise the cows.  Nowadays, her family has 3 cows and 1 buffalo. Additionally, Hoang The Quang borrowed VND 5 million from an ethnic minority program to raise cattle. His farm has 15 cows and buffaloes. Thanks to the cattle, his family has escaped from poverty.

The capital reaches VND 1 billion with 30 customers. Lam collects the interests and gives them to VBSP staff monthly. She often reminds customers to repay loans on time. Therefore, there aren't any cases of customers using the loans for wrong objectives, as well as paying overdue debt and outstanding interests in the Savings and Credit group.

The lives of local people have improved significantly thanks to the Government's policies, including credit programs from VBSP. In the upcoming time, Lam will actively support households that have forest land to borrow money to invest in afforestation to escape from poverty. The Director of the VSPB branch in Tuyen Hoa district - Mr. Thai Xuan Loc - shares that Lam was a dedicated leader. The group managed by her is one of the effective groups in managing capital. Her dedication has supported and helped many ethnic and minority people to access loans for economic development. 




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