The TYM Fund has the Mission to
Improve the quality of life and status of poor and low income women and their families by providing credit, savings and insurance services, thus creating favourable opportunities for them to participate in social-economic activities and to enhance their role ... Read more
The TYM Fund has the Mission to
Improve the quality of life and status of poor and low income women and their families by providing credit, savings and insurance services, thus creating favourable opportunities for them to participate in social-economic activities and to enhance their role in society.
It is the Vision of the TYM Fund to be
A leading provider of financial services to low income women and their families. Rooted in the Vietnam Women’s Union and combining social responsibility with professional staff excellence, TYM wants to be a model of best practice for microfinance institutions in Vietnam. Hide
Background and Main Challenges:
Mission :
Improve the quality of life and status of poor and low income women and their families by providing credit, savings and insurance services, thus creating favourable opportunities for them to participate in social-economic activities and to enhance their role in society. ... Read more
Mission :
Improve the quality of life and status of poor and low income women and their families by providing credit, savings and insurance services, thus creating favourable opportunities for them to participate in social-economic activities and to enhance their role in society.
It is the Vision of the TYM Fund to be
A leading provider of financial services to low income women and their families. Rooted in the Vietnam Women’s Union and combining social responsibility with professional staff excellence, TYM wants to be a model of best practice for microfinance institutions in Vietnam.
Background:
The TYM Fund was founded in 1992 by the Vietnam Women's Union in order to help implement the poverty alleviation programme of the Government. It was originally a replication of the Grameen banking model adapted to the specific context of Vietnam. Along the process of development, TYM has received financial and technical support from a number of international organisations such as ACT (Japan), CARD, OXFAM America, SBFIC (Germany), CORDAID (Netherlands), and others. Today TYM is a leading and one of the few sustainable microfinance institutions of Vietnam. TYM provides savings and loans to more than 45,000 women members and insures, via its Mutual Assistance Fund (MAF) more than 130,000 people. TYM operates 44 outlets in 10 northern and central Vietnamese provinces from Phu Tho to Nghe An. In addition to financial service, TYM provides its clients education, advice and social activities, assisting women not only to overcome poverty, but also to play an active role in their communities.
Challenges:
TYM Fund has applied to register with the State Bank Of Vietnam as a licensed microfinance institution under Decree 28/165. In a difficult environment, TYM has the goal to further professionalise its operations and expand its outreach to many more poor women, thus creating a model for microfinance in Vietnam. This will require training of staff, organisational improvements, upgrading its MIS and tapping additional funding resources. Hide
Address:
20 Thuy Khue St, Room 304/305
Hanoi
Vietnam
Phone:
(844) 37281003
Fax:
(844) 37281070
Email:
tymfund [at] vnn [dot] vn
Main Funding Sources:
Grants
Loans
Savings
Shareholder Capital
Products and Services:
Loans
Voluntary Savings
Insurance
Training and Consulting
Products:
1) Loans from VND 1,000,000 to 25,000,000 (USD 52 to 1,300) at 1% p.m. flat for up to 30 weeks (emergency loan), 50 weeks (general loan) and 100 weeks (medium term loan)
2) Compulsory savings of VND 3,000 (USD 0.16) per week, interest 0.3% p.m., can be withdrawn after the balance has reached VND ... Read more
1) Loans from VND 1,000,000 to 25,000,000 (USD 52 to 1,300) at 1% p.m. flat for up to 30 weeks (emergency loan), 50 weeks (general loan) and 100 weeks (medium term loan)
2) Compulsory savings of VND 3,000 (USD 0.16) per week, interest 0.3% p.m., can be withdrawn after the balance has reached VND 1.5 million. Voluntary savings from VND 1,000 (USD 0.05)., interest 0.3% per month
3) Insurance against death, loan redemption insurance and contribution to hospitalization cost for clients and family members. Premium of VND 1,000 (USD 0.05) per week Hide
The interest rate of all the loans is 1.2%/ month in old areas, but 1%/ month in mountainous and remote areas. Ethnic minorities here are also provided with hygiene / health education.
MFI Report
