Extracted from Vietnam Pictorial (Vietnam news agency): TYM- “Bank” for poor people


Tinh Thuong microfinance institution (TYM) of Vietnam Women’s Union is considered as one of the important financial channels for poverty reduction, equitable economic development and social security preservation in rural areas.

Following Ms. Nguyen Thi Linh, head of TYM’s transaction office no 02 in Thanh Son town (Phu Tho), we visited Mrs. Dinh Thi Mai’s family (Tranh hamlet – Son Hung commune- Thanh Son district).Previously, due to the lack of capital, the couple were in other’s employ. The amount of money they gained was not enough for 6 people to live so the family was always in difficult and necessitous circumstances.

In the early of 2011, through the Women’s union of the commune, Mrs. Mai learned about TYM and engaged as a member with the initial borrowing of VND 7 million. The amount of money was used to buy a cow for breeding. When the cow cubed, she decided to sell them and buy a tea processing machine as well as fresh tea then turn them into dried tea for selling to the market. After a year of full payment of both principal and interest, Mrs. Mai was allowed to borrow for the second time with VND 10 million to invest in a tea cutting machine.

Thanks to the assistance of the machines, the productivity of the family has significantly increased. After a year of full payment of both principal and interest, Mrs. Mai was allowed to borrow for the third time with VND 15 million. Then, from a family who have to earn for each meal, Mrs. Mai has paid off the principal and interest of TYM and possessed the assets including two tea processing machines of VND 10 million per one; two rakes of VND 21 million per one; a tea cutting machine of VND 16 million per one and a cow. At present, the income of the couple is enough for the livings of 6 people. Besides, a savings of VND 2 or 3 million has also been created each month.

According to Ms. Linh, the case of Mrs. Dinh Thi Mai is just one among nearly 2000 cases of women who have developed the family’s economy by TYM’s loans at Thanh Son center. The repayment rate of members in this transaction office always reaches 100% without any bad debt cases. That means most of households in Thanh Son have efficiently used the capital contributing to the sustainable development of the family’s economy.


TYM’s officers are disbursing capital for poor women in Y Yen district, Nam Dinh.  Picture: Reference
Many rural women escape from poverty thanks to TYM’s loan programs. Picture: Reference
TYM‘s officers are preparing passbooks for poor women. Picture: Trinh Van Bo

 Ms. Duong Thi Hai Yen, deputy head of TYM’s Research and Communication Department shared that TYM has designed loans with the size from VND 1 million dong to 30 million matching with the characteristic of households in rural areas who do small businesses.

 Along with loans programs, there are the savings ones with the minimum amount of VND 5000. Correspondingly, several rural women can save small amount of money at TYM. The organization also offers monthly savings so that they can have money for consumption such as tuition or wedding of the members’ children… These are savings products attracting poor women in rural areas.

With the continuous revolution of credit products’ characteristics, the maintenance of preeminent features of lending method in which collateral is not required, as of December, 2014, TYM’s capital disbursement reached VND 1.381 billion with portfolio of more than VND 758 billion, the repayment rate of 99.98%. The total number was 106.000 (as of February, 2015). Ms. Yen said that this number is insignificant in comparison with 90 million people in Vietnam. Thus, the development directions of TYM in the following years are expanding the operating areas, approaching to more vulnerable women.

Thanks to TYM’s capital, Mrs. Dinh Thi Mai in Vo Mieu, Thanh Son, Phu Tho invested on breeding for poverty reduction. Picture: Trinh Van Bo
Mrs. Dinh Thi Mai’s family bought tea cutting machine promoting the production of the family by TYM’s capital. Picture: Trinh Van Bo
Mrs. Nghiem Thi Tinh in Vo Mieu, Thanh Son raised a flock of ducks by TYM’s loans. Picture: Trinh Van Bo

Author: Thao Vy – Picture: Trinh Van Bo

& Reference fromVietnam Pictorial – Vietnam news agency



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