Co-opBank, formerly known as the Central People’s Credit Fund (CCF), (1995–2025), has marked a 30-year journey of continuous development and dedication. Throughout this journey, the Bank has remained committed to fulfilling its role and mission entrusted by the Party and the State, supporting the People’s Credit Fund (PCF) system, and upholding the values of sustainable cooperation.
Comrade Nguyen Thi Hong – Member of the Central Committee of the Communist Party and Governor of the State Bank of Vietnam – presented Certificates of Merit to Comrade Nguyen Quoc Cuong – Chairman of the Board of Directors of Co-opBank and Comrade Pham Thi Hong Minh – General Director of Co-opBank..
30-year journey – A solid foundation for the future
Looking back on its 30-year journey, Co-opBank has always placed PCFs at the center of all its development strategies. Through capital reallocation—considered the “circulatory system” of the entire system—Co-opBank has built a flexible and efficient mechanism to connect capital flows among PCFs, promptly meeting seasonal and regional demands and contributing to improved capital utilization across the system.
Co-opBank has consistently implemented a clear and stable preferential interest rate policy: deposit rates from PCFs are always higher than those offered to individuals and enterprises for the same terms, while lending rates to PCFs are lower than those applied to other individuals and enterprises. This approach aligns with the State Bank of Vietnam’s directive to prioritize agricultural and rural development.
In the field of digital transformation, Co-opBank has affirmed its role as a key pillar of the system. The Bank has made strong investments in digital infrastructure, connecting the interbank payment system to over 900 PCFs, enabling members and customers to send/receive funds to commercial banks across Vietnam. Key services include 24/7 money transfers, the Co-opBank Mobile Banking app, and the Co-opBank Napas chip card. In addition, Co-opBank has provided training and support for the rollout of banking products, especially the first trio of digital platforms specifically designed for PCFs, helping these PCFs quickly adapt to modernization trends. A notable achievement came in 2023, when Co-opBank was honored by the World Council of Credit Unions (WOCCU) with the “Digital Transformation Institution of the Year” award, recognizing its efforts to advance financial inclusion through technology.
In an effort to build a more reputable, professional, and unified PCF system, and based on proposals from the PCFs and the Vietnam Association of People’s Credit Funds (VAPCF), Co-opBank and the Safety Fund have collaborated with the VAPCF to develop a new brand identity for PCFs. This new identity reflects a modern direction and aligns with the practical realities of their operations.
With such comprehensive support, the PCF system has made remarkable progress. Total charter capital reached VND 7,856 billion, total assets exceeded VND 192,000 billion, loan outstanding increased by 132.65%, and mobilized capital rose by 164.18% compared to 2015. Notably, the non-performing loan (NPL) ratio was well controlled at just 0.84%, reflecting growing stability and increasingly effective risk management.
To date, Co-opBank, with its Head Office, 32 branches, and 66 transaction offices, has been supporting nearly 1,200 PCFs operating across 57 out of 63 provinces and cities, serving over 1.9 million members, including individuals and households in agricultural and rural areas, as well as remote and underserved regions with limited access to financial services. With continuously growing total assets, an expanding network, and ever-improving service quality, Co-opBank has been affirming its position as one of the key banks in providing financial support and promoting sustainable rural economic development.
Customers conducting transactions at a Co-opBank branch
Strategic orientation – Enhancing development
In the time ahead, with the vision of becoming a modern, multifunctional bank that leads in community-based microfinance and consistently supports PCF system, Co-opBank is determined to effectively and synchronously implement various measures: strengthening financial capacity by focusing on increasing charter capital, expanding its operational network, and enhancing risk management capabilities; continuing to diversify financial products and services to meet the actual needs of PCFs and customers; continuously reviewing and reorganizing the institutional model, and placing emphasis on training and fostering a highly professional and ethical workforce; strongly investing in IT infrastructure, developing digital banking solutions to deliver fast, secure, and convenient transaction experiences; and strengthening partnerships with domestic and international financial institutions to enhance operational capacity, gain management experience, and access preferential funding sources.
Co-opBank Branch staff are consulting and supporting the PCF in Minh Phuong Ward, Viet Tri, Phu Tho
Thirty years mark a journey of tireless efforts, reflecting Co-opBank’s continuous growth and innovation. The achievements of today form a solid foundation for the bank to reach further, affirm its position, and be well-prepared to embrace new opportunities and overcome future challenges. With a mission of connection and development, and as the bank of all People’s Credit Funds, Co-opBank reaffirms its commitment to accompanying the PCF network, customers, and partners in building a sustainable and transparent financial system, contributing to the shared prosperity of the nation.
