SENIOR EXECUTIVES FROM ASIA PACIFIC (APAC) FINANCIAL INSTITUTIONS DISCOVERED TYM’S MODEL

As a part of the Asia Pacific Finance Summit, on March 23^rd, a delegation made up of , leaders, CEOs and senior executives from AP Financial Institutions, paid a visit to TYM (Tinh Thuong One-member Limited Liability Microfinance Organization founded by the Vietnam Women’s Union) in Phuc Yen, Vinh Phuc and Me Linh distric, Ha Noi.

During the fieldtrip, the visitors participated in an informative session about TYM in which many questions were asked about credit methods and loan interest rates for such the target groups as poor, near-poor, disadvantaged women, and micro-enterprises.

The group also showed interest and satisfaction concerning savings products that TYM offers to assist members form saving habits.

Besides, the delegation highly appreciated the value of TYM capacity building programs. As for the TYM Team, beyond financial assistance (Give a woman “a fish”), it is important to provide them necessary knowledge and skills to start-up and manage business effectively (teach a woman to fish).

The group was excited to join in the 20^th anniversary meeting of group 40 in Yen Diem hamlet, Cao Minh village, Phuc Yen. The festive atmosphere and cultural performances not only helped delegators understand the general contents of a group meeting but also kept them engaged.

During the fieldtrip, the participants were able to visit several TYM members’ families,

The first visit was to meeting Ms. Nguyen Thi Hoa, born in 1975, TYM member at group 45 in Duc Cung hamlet, Cao Minh village, Phuc Yen. The guests expressed their deepest sympathy for her difficult situation. Ms. Hoa who was a single mother of two children responsible for taking care of her aged mother alone when she developed a hopeless disease. As a TYM member, she was cared for by the organization and was able to borrow two kinds of loans: VND 15 million of funding preferential for poor households which she used to invest in growing rice and vegetable; and VND 15 million of consumption funding which she used to pay for her child’s study, family expenses and for her treatment.

Answering one of the questions from the delegators – What have you gained by joining TYM? Ms. Hoa confided: “I have received a great deal, not only the capital to help me out of difficulties and improve our household finances , but also the opportunity to exchange experiences and get support from  other group members. I have also been given a chance to join training classes about using funds for the right purpose and how to apply science and technology into husbandry and manufacturing.

Speaking on behalf of the delegation Mr. Bob Summer – CEO of MicroCapital, USA congratulate the 20th birthday of  group 40, Phuc Yen branchSpeaking on behalf of the delegation Mr. Bob Summer- CEO of MicroCapital, USA – expressed his feelings about the fieldtrip and saying that  his observations left him with a deeper understanding about how women went through hardships; he was also impressed by TYM’s activities and spoke of apply the lessons learnt when he returned home.

Source: http://hoilhpn.org.vn