New resources from Co-opBank
Stronger financial resources enable Co-opBank to proactively manage funding and expand services, enhancing its capacity to support 97 People’s Credit Funds in Hai Phong.
Proactively securing lending funds
For nearly 10 years in the furniture manufacturing business, Nguyen Van Thanh in Nguyen Luong Bang Commune has regularly needed capital to purchase materials, maintain production and fulfill orders. When material prices rise, the need for working capital becomes even greater. One of the channels his family turns to is the local People’s Credit Fund.
According to Thanh, the fund’s advantage is its proximity, while its staff understand his family’s production activities, making access to capital convenient. Timely loans help his business proactively purchase materials and minimize impacts on order schedules.
Hai Phong currently has 97 People’s Credit Funds with 160,516 members. By the end of the 2nd quarter of 2026, the funds’ total operating capital reached VND 20.327 trillion, deposits totaled VND 18.337 trillion, and outstanding loans to members stood at VND 14.860 trillion. The funds’ capital is mainly used for production, business activities and people’s living needs.
In July 2026, the Prime Minister issued Decision No. 1279/QD-TTg approving the policy of providing VND 5 trillion from the Central budget to increase Co-opBank’s charter capital. The funding was approved by the National Assembly under Resolution No. 246/2025/QH15 dated November 14, 2025.
Co-opBank serves as the focal institution linking the People’s Credit Fund system, regulating capital, providing liquidity support, and supplying banking products and services to the funds. Therefore, what matters most about the additional capital is its capacity to support People’s Credit Funds in better meeting their members’ needs.
Nguyen Duy Hai, Director of Co-opBank’s Hai Duong Branch, said stronger financial resources would enable Co-opBank to improve its capacity to regulate capital and provide liquidity support. As a result, People’s Credit Funds can be more proactive in securing funds to serve their members, particularly when demand for production and business capital increases.
More convenient services for residents
Tran Thi Huong, who sells agricultural machinery parts in Bac Thanh Mien Commune, regularly transfers payments for goods to business partners. Previously, each transaction could take one to two hours to complete.
Since People’s Credit Funds introduced 24/7 fast interbank transfer services, processing time has been reduced to just around one to two minutes. According to Huong, being able to deposit money, borrow funds and make transfers at a fund near her home makes her business more convenient, especially when payments for goods need to be made quickly.
Such services are being expanded. By the end of April 2026, most People’s Credit Funds in Hai Phong had basically provided transfer services to their members. The funds are therefore no longer simply places to deposit money and borrow funds, but also provide additional payment services.
According to Nguyen Duy Hai, Director of Co-opBank’s Hai Duong Branch, alongside capital regulation, the bank also provides products, services and shared technology infrastructure for the People’s Credit Fund system.
Stronger resources will create additional conditions for investment in technology, helping the funds access new products and services and improve transaction quality for members. Sharing the same platform also helps People’s Credit Funds reduce investment costs and gradually narrow the gap in service convenience with other credit institutions.
With 97 People’s Credit Funds and more than 160,000 members in Hai Phong, the effectiveness of the additional resources provided to Co-opBank will ultimately be reflected in tangible benefits for residents: access to capital when needed, greater convenience in transactions and the safety of deposits at the funds.
HA KIEN