Our Story

In the early period of Vietnam’s renovation process, many non-governmental organizations integrated credit–savings activities into development projects and regarded them as an important component to ensure the sustainability of poverty alleviation programs. With the dedicated support of an advisory expert from the Food and Agriculture Organization of the United Nations (FAO), the Vietnam Women’s Union established the credit project “Affectionate Fund” to provide capital support for poor women, following the Grameen Bank approach from Bangladesh.

The more than 33-year journey of TYM’s establishment and development is a proud one: from a small credit project, TYM has proven its effectiveness and sustainability and has become one of the leading microfinance institutions in Vietnam today.

Learn more about each stage of TYM’s formation and development here:

1992-1997: Building a Firm Foundation

1989: The Executive Board of the Central Vietnam Women’s Union (VWU) launched the movement “Women Supporting Each Other in Developing Household Economies,” encouraging women to collaborate in production and small business development. This initiative laid the groundwork for the credit programs of the Vietnam Women’s Union today.

1992: The Affectionate Fund (TYM) was established under the VWU’s Department of Family and Living Affairs Department, pursuant to the Official Letter No. 563 issued by the Government on February 20, 1992. Ms. Do Thi Tan was appointed as the Project Director. The Affectionate Fund Project was introduced internationally under the name “Tau Yeu May,” commonly known as TYM. In its early days, TYM operated in Soc Son District, Hanoi.

The project was launched with an initial budget of USD 18,000, funded by the Asian Community Trust (ACT). From the outset, TYM’s leaders and experts personally went to Soc Son District to conduct poverty mapping and identify communes with the highest poverty rates for program implementation.

The poorest women were then carefully selected to participate. They underwent two weeks of training covering TYM’s policies and products, as well as the roles and responsibilities of each member within their groups and centers. Before accessing loans, participants were required to pass a quality assessment.

For women who were once familiar only with farming and traditional ways of life, regularly attending TYM’s training sessions demanded remarkable determination. Through their perseverance, members gained a clear understanding of their rights and responsibilities within the program and actively complied with TYM’s regulations and activities.

1995: Following the successful pilot phase, the Vietnam Women’s Union decided to scale up the model to new locations. At this time, Oxfam America began providing TYM with substantial financial and technical support, enabling the program to expand its outreach.

1997: TYM had reached nearly 7,000 of the poorest clients across five districts in five provinces: Soc Son (Hanoi), Me Linh (Vinh Phuc), Kim Dong (Hung Yen), Y Yen (Nam Dinh), and Hung Nguyen (Nghe An).

1998-2005: Affirming the TYM Model

1998: TYM became an independent unit under the Presidium of the Central Vietnam Women’s Union, following its separation from the Department of Family and Living Affairs. This transition marked a significant milestone, affirming both the sustainability of the program and the resilience of TYM’s members and staff. From that point onward, the Affectionate Fund operated with its own organizational structure, official seal, bank accounts, and dedicated staff at the Head Office.

In recognition of its meaningful contributions during this period, TYM was honored with a Certificate of Merit from the Prime Minister in 1999 for its “Outstanding Achievements in Hunger Eradication and Poverty Alleviation” followed by the Third-Class Labor Medal in 2002.

2006-2009: Achieving Financial Stability

2005: TYM and the Vietnam Women’s Union entered into a strategic partnership agreement with the German Savings Bank Foundation for International Cooperation and the Center for Agriculture and Rural Development (CARD) of the Philippines.

2006: TYM was officially recognized as a revenue-generating public service unit operating for social, non-profit purposes. This year also marked a major milestone: TYM became the first microfinance institution in Vietnam to access international loans to finance its lending operations.

2007: TYM was awarded the Second-Class Labor Medal by the Government and received the Vietnam Women’s Award from the Presidium of the Central Vietnam Women’s Union. In addition, at the inaugural Citi Micro-Entrepreneurship Awards held in Vietnam, TYM was honored as one of the country’s most outstanding microfinance institutions.

2010-present: Integrating, developing, and gaining formal recognition

2010: TYM became the first organization in Vietnam to be officially licensed by the State Bank of Vietnam to operate as a microfinance institution, under the legal name Tinh Thuong One-Member Limited Liability Small-scale Finance Institution (TYM).

2013: In accordance with the Law on Credit Institutions, TYM formally changed its name to Tinh Thuong One-member Limited Liability Microfinance Institution (TYM).