On 21 August 2026, in Hanoi, Kim Chung People’s Credit Fund (PCF) held a ceremony to celebrate its 30 years of establishment, marking a three-decade journey of building, developing, supporting its members and making positive contributions to the local socio-economic development.
Attending the ceremony and extending congratulations to Kim Chung PCF, the delegation from the Co-operative Bank of Vietnam (Co-opBank) was led by Mr. Nguyen Quoc Cuong – Secretary of the Party Committee and Chairman of Board of Directors (BOD).
Delivering his remarks, Mr. Nguyen Quoc Cuong congratulated the contingent of officers, employees, and members of Kim Chung PCF on its 30th anniversary, while recognizing the Fund’s notable achievements throughout its establishment and development.
Over its 30 years of operation, Kim Chung PCF has steadily grown while upholding the principles of the cooperative credit model, placing members at the center, promoting mutual support, and aligning the PCF’s operations with the needs of its members and the development of the local community.
To date, Kim Chung PCF has total funding of VND 517 billion, serving nearly 3,000 members, with its non-performing loan ratio maintained at 0%. These results reflect the efforts of the PCF’s leadership, officers, and employees over the years, while also demonstrating its governance, operation, and risk management capacity, affirming Kim Chung PCF as one of the PCFs with a strong operational scale and outstanding performance in Hanoi.
On this occasion, Mr. Nguyen Quoc Cuong also highly acknowledged and appreciated the contributions of Mr. Phan Duc Tuan – Chairman of the BOD of Kim Chung PCF, who previously served as a Member of Co-opBank’s BOD for its third term (2021–2026) and currently serves as a Member of Co-opBank’s Supervisory Board for its fourth term (2026–2031), as well as a Member of the Management Committee of the Safety Fund for the PCF network.
As a bridge connecting members across the cooperative credit system, Mr. Phan Duc Tuan has actively participated in the system-wide activities, contributing to supporting PCFs and promoting safe and effective operations.
Entering a New Development Cycle
Regarding the development orientation for the coming period, Mr. Nguyen Quoc Cuong emphasized that the cooperative credit system is entering a new development cycle. On 11 June 2026, the Governor of the State Bank of Vietnam (SBV) issued Decision No. 1266/QD-NHNN approving the “Scheme on Comprehensive Restructuring for the PCF Network and Co-opBank for 2026–2030, with a vision to 2045.”
The Scheme sets out new requirements for the network in terms of governance capacity, operational quality, system safety, financial capacity, technology, digital transformation, and adaptability to changes in the business environment. This provides an important foundation for the PCF network and Co-opBank to enter a stronger, more modern, safer, and more sustainable phase of development.
For Kim Chung PCF, in addition to continuing to operate in accordance with the purposes and principles of a cooperative credit institution, strengthening ties and mutual support among members and the local community, the PCF should proactively strengthen its financial capacity, increase charter capital, reinforce governance capacity, enhance risk management, and promote the application of technology and digital transformation. This will enable Kim Chung PCF to further improve the quality of its operations and better meet development requirements in the new phase.
Supporting PCFs in Safe and Sustainable Development
Emphasizing the close relationship between Co-opBank and the PCF network, the leader of Co-opBank affirmed: “A strong Co-opBank must go hand in hand with a strong PCF network; a strong PCF network must be built on strong individual PCFs; and every strong PCF must begin with the strength, solidarity, and trust of its members. That is the strength of the cooperative finance model.”
As the “Bank of All PCF,” Co-opBank identifies supporting PCFs as one of its key responsibilities, fulfilling its role as the network’s focal-point bank and “central institution”, while assisting PCFs in the restructuring process, strengthening their operational capacity, and promoting safe and effective development.
As it enters a new journey, Co-opBank’s leadership believes that Kim Chung PCF will continue to build on its 30-year foundation. The PCF is also expected to leverage the support of local authorities, SBV Region 1, and Co-opBank, alongside the trust of its members and partners, to enhance operational quality and grow in a safe, professional, and effective manner – ultimately becoming a trusted financial anchor for its members and the community.
In doing so, Kim Chung PCF will continue to make a positive contribution to local socio-economic development, while contributing to the overall development of the PCF network and the cooperative finance model.
The 30th anniversary ceremony marks an important milestone in Kim Chung PCF’s journey of establishment and development, while opening a new chapter of development with higher requirements for capacity, quality, and sustainability, and further affirming the PCF’s role within the cooperative finance model.
Reporter
