(In the picture) Mr. Patchai Wisetsombat (left), Chairman of the Board of Directors of Prachuap Khiri Khan Teachers Savings Cooperative Limited, Mr. Wongwarit Dulyanitikoson (right), Executive Advisor of National Credit Bureau Co., Ltd., took a commemorative photo together at the signing ceremony of the Memorandum of Understanding for the “ Vulnerable Cooperative Member Assistance Project ” between Prachuap Khiri Khan Teachers Savings Cooperative Limited and National Credit Bureau Co., Ltd. at the 3rd floor conference room of the Prachuap Khiri Khan Teachers Savings Cooperative Office Building recently.
Prachuap Khiri Khan Teachers Savings Cooperative Limited (Prachuap Khiri Khan Teachers Savings Cooperative) and National Credit Bureau Co., Ltd. (Credit Bureau) jointly signed a memorandum of understanding on the “ Project to Assist Vulnerable Cooperative Members ”. This is the first teacher savings cooperative in the western region where the Credit Bureau has played an important role in supporting the debt management of cooperative members. The Credit Bureau will help limit the request for loans and promote the adjustment of members’ financial behaviors so that they can effectively manage their debts. The project also focuses on enhancing knowledge of financial discipline for teachers and providing advice to help cooperative members solve their debt problems sustainably. This collaboration will help strengthen the financial knowledge of teachers, drive the resolution of debt problems sustainably, and provide advice and recommendations for the project.
Mr. Patchachai Wisesombat, Chairman of the Prachuap Khiri Khan Teachers’ Savings Cooperative, said, “According to the Prachuap Khiri Khan Teachers’ Savings Cooperative, a vulnerable group of members who were unable to participate in the original debt resolution project that the cooperative had already provided, due to conditions such as withholding tax of less than 30% and low remaining installments, providing assistance to this vulnerable group of members is a good opportunity to transfer debts from other financial institutions with high interest rates to the Prachuap Khiri Khan Teachers’ Savings Cooperative, which offers a combined interest rate of only 4.50 baht per year to members. However, this group of members must seriously maintain financial discipline by not incurring debt obligations with other financial institutions.
In this regard, the Credit Bureau plays an important role in supporting the credit information of the members of this group for other financial institutions to consider granting loans to members of this group according to the conditions agreed upon with the Prachuap Khiri Khan Teachers’ Savings Cooperative. This cooperation will help vulnerable members of the Prachuap Khiri Khan Teachers’ Savings Cooperative have the opportunity to manage their debts to be within an appropriate amount according to the situation that this group of members has gone through hardships to have a more flexible financial status, can improve their quality of life, and can rely on themselves in the future.”
Mr. Surapol Opasathian, General Manager of the Credit Bureau, revealed that “The cooperation in the project to assist vulnerable cooperative members aims to support the resolution of cooperative members’ debt problems and promote sustainable adjustment of financial behavior. The Credit Bureau supports members of the Prachuap Khiri Khan Teachers’ Savings Cooperative in resolving debt problems in order to encourage and supervise cooperative members to adjust their behavior to limit their debt and limit their request for loans by themselves in order to manage their debt burden appropriately according to their ability to repay debts. Such support will help members gain knowledge and understanding in managing debt effectively and sustainably.”
In this project to assist vulnerable cooperative members, the Credit Bureau will support the debt resolution of teachers and educational personnel and civil servants to support the government’s policy by providing services for cooperative members who wish to join the project to consolidate all debts from other financial institutions of members who are in crisis and voluntarily show their intention not to incur additional debts in their credit report before receiving a loan to assist in debt consolidation. This will serve as an important tool to monitor the change in debt behavior during the period of problem resolution by the current lenders participating in the project, helping teachers and educational personnel escape the debt cycle, have better financial health and a better quality of life sustainably. If other savings cooperatives are interested in the project, they can request advice on sustainable debt resolution via email at consumer@ncb.co.th.
(In picture) Mr. Patchai Wisessombat (center), Chairman of the Board, Mr. Kowit Ketungam (second from left), First Vice Chairman, Ms. Wina Patchad, Manager (far left) of Prachuap Khiri Khan Teachers Savings Cooperative Limited and Mr. Wongwarit Dulyanitikosol (second from right), Executive Advisor, and Ms. Wiranong Chamthrap (far right), Senior Assistant Managing Director of National Credit Bureau Co., Ltd. pose for a souvenir photo together at the signing ceremony of the Memorandum of Understanding “ Vulnerable Cooperative Member Assistance Project ” between Prachuap Khiri Khan Teachers Savings Cooperative Limited and National Credit Bureau Co., Ltd. at the conference room on the 3rd floor of the Prachuap Khiri Khan Teachers Savings Cooperative Office Building recently.
About National Credit Bureau Co., Ltd.
The National Credit Bureau Co., Ltd. (Credit Bureau) is a part of the financial infrastructure and a factor of stability of the financial institution system. It is responsible for collecting, compiling and processing credit information of financial institution customers only as submitted by financial institutions or member companies. The Credit Bureau has no involvement or right to approve or participate in making decisions to grant credit to anyone. The Company has developed a credit information processing system, reported results and improved the quality of the information to be accurate, complete, fast and up-to-date. It has continuously increased its potential in information security. The Company strictly adheres to the principle of protecting and maintaining the confidentiality of information and is also very concerned with the care and protection of the rights of consumers who are the owners of the information. For more information, visit www.ncb.co.th
Source: NCB Thailand
