Disbursing more than 1 billion VND in loans
Recently, the Nam Phuoc Commune Trade Union coordinated with the Da Nang City Capital Support Fund to organize the disbursement of more than 1 billion VND in preferential loans to 34 union members and workers (DV, NLD) under the Duy Xuyen Regional Medical Center Trade Union and the My Son World Cultural Relic Management Board Trade Union. Each union member is allowed to borrow an average of 30 million VND, with a preferential interest rate of 0.55%/month, flexible terms and suitable for income conditions, to help borrowers improve their housing, improve living conditions and stabilize their lives.
This is the first disbursement period after the Da Nang City Labor Federation merged with the Quang Nam Provincial Labor Federation, marking the specific and practical attention of the Trade Union organization in accompanying union members, especially workers in the non-state sector. According to Director of the Capital Support Fund Vo Bao Huong, the Capital Support Fund is not only a source of financial support but also a spiritual support, helping union members and employees overcome difficulties, stabilize their lives, and feel secure in sticking with the Trade Union organization for a long time.
Established in 2016, the Support Fund has become one of the typical care programs of the Da Nang Labor Federation. With a quick disbursement mechanism, flexible installments and low interest rates, the fund has helped thousands of employees overcome difficulties and improve their lives. Up to now, the fund has supported 2,195 members and employees at 464 grassroots unions with a total revolving capital of VND64.055 billion.
In the past, the Support Fund has been a "lifeline" for many poor workers in Da Nang city. "Workers often borrow money outside at very high interest rates when they encounter difficulties. So although the loan from the Support Fund was not too large, it helped my family a lot in real difficult times" - Mr. Le Van Dung - one of the workers who borrowed capital from the Support Fund, currently living in Lien Chieu ward, Da Nang city - shared.
Spreading social security
Not only stopping at the Fund for Poor Workers, Da Nang trade unions at all levels have also expanded many other welfare policies to support workers. In particular, the "Union Shelter" program is considered a symbol of the spirit of sharing, helping hundreds of union members have solid homes.
At the same time, the City Labor Federation also coordinated with financial institutions such as HD Saison and FE Credit to open more safe consumer loan channels, reducing interest rates by 50-70% compared to normal, supporting union members to purchase means of transportation and household equipment with simple and flexible procedures. These preferential consumer loan programs help workers avoid resorting to hot loans and black credit, while increasing access to official capital sources, ensuring personal financial safety.
According to a survey by the Da Nang City Labor Federation, up to 64.3% of Da Nang workers currently have an income of only 4 - 6 million VND/month, this level only meets 65-75% of the minimum living needs. Therefore, the demand for loans for essential living needs such as repairing houses, buying means of transportation, studying or medical treatment is very high. Union loan programs have contributed significantly to helping employees relieve financial pressure and maintain a stable life.
From specific models such as the Capital Support Fund, Trade Union Shelters or preferential consumer loan programs, the Da Nang City Trade Union has been gradually building a solid social security network, spreading the spirit of sharing in the working community. These policies not only help thousands of union members overcome immediate difficulties, but also affirm the role of the Trade Union organization as a reliable support in accompanying employees - so that "no one is left behind" on the journey of livelihood and development.
