Attending the ceremony, there were Ms. Pham Thi Thuy Linh, Member of the Presidium of the Central Vietnam Women’s Union, General Director of Tinh Thuong one-member limited liability Microfinance Institution (TYM); Ms. Pham Thi Thanh Huong, Vice President of Hanoi Women’s Union; Mr. Tran Quoc Hung, Deputy Director of the State Bank of Vietnam, Hanoi Branch; Mr. Bui Hoang Phan, Secretary of Thanh Oai District Party Committee.
In her speech, Ms. Nguyen Hong Thuy, Director of Me Linh Branch shared that TYM has been present in Me Linh district since 1999. Up to now, the branch has been operating in 4 districts (Me Linh, Dong Anh, Phuc Tho, Ha Dong) with 1 branch office and 2 transaction offices. Currently, TYM Me Linh branch was serving 6,291 members and 511 clients; total disbursement was VND 270 billion; loan outstanding and savings balance were VND 93.9 billion and VND 96.6 billion respectively; repayment rate reached 100%.
TYM Me Linh branch has granted 2 subsidized houses for poor women members; free health check-ups for more than 2,000 women; granted 108 motivational gifts for children of members with excellent academic performance at all levels and 147 gifts for poor and near-poor women; provided financial support for the program of development of rural areas, construction of flower paths, act for the environment, and disease prevention etc.
From 2018 until now, TYM Me Linh branch has coordinated with the Micro-Insurance Fund to pay loan insurance for 16 unfortunate members who passed away with a total amount of VND 600 million.
TYM Transaction Office no. 03 would continue to organize meetings to introduce its products and services to localities, establish centers, receive loan applications, conduct appraisal and disbursement of funds for women in need.
Ms. Pham Thi Thuy Linh, member of the Presidium of the central Vietnam Women’s Union, General Director of Tinh Thuong one-member limited liability Microfinance Institution (TYM), said that TYM was one of the very rare cases, the only organization of the Vietnam Women’s Union being formed from an international sustainable development project and had legal status in Vietnam. TYM was established in 1992. In Hanoi there were 2 branches (Soc Son and Me Linh), operating in 9 districts of Hanoi. Current total loan outstanding of TYM was VND 2,600 billion. Especially, TYM has maintained a repayment rate of over 99.9% over the past 31 years.
Ms. Pham Thi Thuy Linh emphasized that the operation of TYM Transaction Office 03 would also continue to contribute to the implementation of the State’s policy to ensure social security and sustainable poverty reduction, and at the same time improve capacity and decision-making ability; thereby, enhancing the status of women in the community and family, actively contributing to gender equality and the development of women. Together with the Women’s Union at all levels, Transaction Office 03 would contribute to the implementation of local political tasks, to take care of women’s members, and engage more members to the local women’s unions.
In his speech, Mr. Bui Hoang Phan, Secretary of Thanh Oai District Party Committee said that the whole district had 141 poor households, 922 near- poor households and it strived that there was no poor households in the district by 2025. In the coming time, TYM would help women access funds, contribute to poverty reduction, and achieve better life. The district Women’s Union would also continue to coordinate with the Transaction Office No. 03 to effectively manage and operate capital sources and create conditions for poor and near-poor women and start-up women to access capital to develop economy of household individually and Thanh Oai district generally.
The operation of Transaction Office No. 03 of TYM Me Linh branch in Thanh Oai district would create favorable conditions for local women members to access a variety of credit and savings products; thereby, contributing to support them to create savings habits, use funds effectively to develop business, improve lives, reduce poverty sustainably, and improve the status of women in the family and community.
On this occasion, TYM Me Linh branch granted a financial support of VND 40 million to build a subsidized house and 21 gifts to women members with extremely difficult circumstances in Thanh Oai district.