Mrs. Lo Thi Dam, a Thai ethnic minority woman, was born in 1970. Like many other ethnic minority girls, she got married at a very young age (17 years old). When Transaction Office No.4 of Mai Son Fund opened a new center in Na Po Commune in March 2009, she was one of the first to join.
In the first cycle, she borrowed VND 5 million from Cordaid’s capital. She used that amount of money to buy a new corn species with higher productivity and quality to cultivate on 2-ha hill land of her family. 5 months later, she harvested 20 tons of corn. After deducting all costs, her gross profit was more than VND 20 million. In order to utilize the land in the most efficient way, she applied crop rotation method by planting legume crops in between with corn crops. The last soya bean crop yielded a profit of more than VND 4 million. So, proportionally, she made a profit of approximately VND 10 million on the VND 5 million loan.
With experiences from the first cycle, she and her husband raised the amount of loan to VND 10 million in the second cycle and continued to invest in a new corn crop. She is looking for a fruitful crop. She also plans to borrow the maximum loan amount in the third cycle if the branch approves. She said: “Since we borrowed from the fund, our meals have become more nutritious. We also learnt to plan our expenditure. Moreover, we were able to send our child to Tay Bac University and hold a wedding ceremony for our daughter. In terms of repayment, I raise some layer chickens and set aside a part of our husband’s salary to repay twice every month. Therefore, I always ensure full and timely repayment.”
Mrs. Dam is not only a smart borrower but also a successful center chief. Despite the fact that the place to collect deposits and repayments and to hold periodic center meetings is located inconveniently, she encourages and closely supervises to make sure that members are puncture. As a result, in the last three years, there has been no record of late repayment at her center. Center meeting are held frequently.
She said: “Participating in the fund, we are not only eligible for borrowing but also benefit from Mutual Protection Association (M7MPA). By contributing VND 3,000 every month, we are protected from risks like illness. Besides, the fund is also a place for us to exchange experiences, and become more united. We are going to admit several new members into the center.”
Her leadership in the center has helped Mrs. Dam mature a lot. In the last assembly of Na Po Commune’s Women Union, she was elected into the center committee.