7 contents of cooperation between TYM and the Women’s Union of 13 provinces and cities

15/07/2022

The conference to sign the program of cooperation between Tinh Thuong One member Limited liability Microfinance Institution (TYM) and the Vietnam Women’s Union of provinces/cities for the period 2022-2026 took place within the framework of the 2nd Conference of the Executive Committee of the Central Vietnam Women’s Union term 13.

Accordingly, the coordination program between TYM and Vietnam Women’s Union of 13 provinces/cities where TYM operates, focused on 7 contents, specifically: promoting propaganda activities, increasing access to TYM’s microfinance services for poor and near-poor women, low-income women, and special women, contributing to increasing the rate of member growth, supporting economic empowerment for women to build a warm, happy, progressive and civilized Vietnamese family, building a safe environment for women and children, communication enhancing the image of VWU, TYM, consolidating and improving the quality of grassroots VWU staff, evaluation of coordination between VWU at all levels and TYM in the period 2022-2026.

Standing Vice Chairwoman of VWU Do Thi Thu Thao spoke at the signing ceremony.

Speaking at the conference, Standing Vice Chairwoman of VWU Do Thi Thu Thao suggested that the provinces/cities with active operation of TYM should pay attention to the target of 5% of customers of TYM/province/year to make payments by cash. The pilot in Nam Dinh in restricting the use of cash could be an experience for other provinces/cities in implementing this target.

At the same time, Standing Vice Chairwoman Do Thi Thu Thao wished VWU of 13 provinces/cities to pay more attention to building a digital economy, going beyond the digital society in cooperation with TYM. These cooperation activities, both help VWU of the provinces/cities to develop their members, and fulfill the targets of improving the economic power of women, taking out loans for production and improving living standards. Along with that, the content of the signing also needs to set out specific targets in promoting the expansion of branches in the districts and communes of the provinces/cities where TYM is operating.

Ms. Pham Thi Thuy Linh, General Director of TYM, gave a speech.

Ms. Pham Thi Thuy Linh, General Director of TYM, said: In the context of our country’s economic integration with the world, the banking industry has also changed markedly, including promoting financial inclusion and liquidity. Cashless accounting is one of the missions that TYM participates in. The action plan to implement the national financial inclusion strategy implemented by TYM has three main pillars: Improving operational efficiency, technology application in TYM’s operations, adding value to customers and the community.

To realize this plan, TYM focuses on diversifying its activities by changing from weekly to monthly repayment. This form is expected to attract members in many areas where TYM is operating as well as in new areas. With the application of technology, TYM will develop an App (application) for employees and customers, thereby contributing to improving labor productivity and also reducing loan interest rates for members. At the same time, TYM will continue to coordinate with VWU of provinces/cities to carry out social security activities, adding value to customers and the community.

Delegates at the signing ceremony.

Up to now, TYM has a total of 21 branches and 39 transaction offices in 13 provinces/cities, with a total of more than 186,000 members and customers. Total loan balance is 2,310.1 billion VND, savings balance is 1,774.8 billion VND. Credit balance growth is 8.8% compared to the end of 2021.

With community and social activities, TYM gave over 700 gifts to poor and disadvantaged households on the occasion of the Lunar New Year, handed 30 subsidized homes, provided free health check for 2,014 members, distributed 90,000 masks to members, supported epidemic prevention and control for nearly 5,000 center heads and VWU at all levels, awarding 40 scholarships to the children of poor members who overcome difficulties.

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