On the occasion of International Credit Union Day® (ICU Day – October 15), the Co-operative Bank of Vietnam (Co-opBank), together with nearly 1,200 People’s Credit Funds (PCFs) across the country, joins the global cooperative finance movement in celebrating its shared values, reflecting on the strength of the cooperative model, and reaffirming its commitment to taking practical actions for members and communities.
This year’s International Credit Union Day theme carries particular significance at a time when the economy, technology, and society are undergoing rapid change. Mr. Paul Treinen, President and CEO of the World Council of Credit Unions (WOCCU), offered a timely perspective as people navigate the accelerating pace of digital transformation, economic uncertainty, and an ever-growing volume of information, cooperative financial institutions can serve as a “steady signal,” providing members with greater clarity and confidence in making financial decisions.
The strength of this “signal” lies not only in financial products and services, but also in the long-term relationships, trust, and commitment to putting members’ interests first. These values continue to shape the identity and sustain the vitality of the cooperative finance movement around the world.
In Vietnam, these values are being put into practice by Co-opBank and the People’s Credit Funds (PCFs) network through their efforts to serve members and support local communities. As an important source of capital, particularly in rural areas, PCFs help bring financial services closer to local people and meet their financing needs for production, business activities, and everyday life. At the same time, Co-opBank, as the bank of PCFs network, continues to play a key role in fund balancing and liquidity support, while providing financial products and services and promoting digital transformation. Through these efforts, Co-opBank contributes to strengthening the safety and resilience of the system, improving service quality, and expanding members’ access to financial services.
Every loan provided at the right time, every financial service delivered safely, and every effort to stand by members in times of difficulty helps turn the “clear signal” into values that people can see and feel in their everyday lives. These are not values that are remembered only on an anniversary; they are built through concrete and sustained actions every day.
Looking back on the journey of cooperative finance is also a reminder of the strength built on trust, connection, and a shared commitment to supporting communities. Every member, every PCF, every officer, and every partner contributes to this journey through their dedication, responsibility, and concrete actions for the community. This is also the foundation for Co-opBank and the PCF system to continue moving forward with confidence, bringing the values of cooperation closer to people’s lives and better responding to their needs in a constantly changing world.
Reporter
