On February 14, 2023, FSCT’s Vice President, Directors, Advisors and staffs visited Thuy Xuan People’s Credit Fund in Vietnam. Thuy Xuan People’s Credit Fund is located in Hue city with more than 5,000 households and more than 20,000 people. In this area, there are all kinds of industries and small businesses. Some households do businesses in restaurants and tourism services. Thuy Xuan People’s Credit Fund was established in November 1995 with an initial capital of VND 15 million, equivalent to more than USD1000, at that time there were more than 100 members contributing their share capital to the Fund.
After 26 years of operation, until now, Thuy Xuan People's Credit Fund has had 1,399 members with a total capital of VND 19,499 million and has provided loans to 331 members. At the end of December 31, 2022, the Fund's total capital reached VND 19,499 million, in which the capital mobilized from savings is VND 16,863 million, accounting for 86.33%.
The Fund composed of 3 Board of Directors and 3 staffs of Management team. During the situation of COVID19 and economic crisis, the Fund still strives to promote development and has achieved certain business results as set out in the direction and tasks. Furthermore, the Fund has overcome all difficulties and strive to contribute to hunger eradication and poverty alleviation in the locality.