BAAC supports building financial strength in communities Aiming to develop and increase the efficiency of more than 243 community financial organizations across the country to become standardized community financial institutions. Ready to be a center for financial management in the community, including savings, credit support to create opportunities to access funding sources Financial services to everyone in the community. and reduce the problem of relying on informal debt Ban Prasarnmit People’s Financial Institution, Chumphon Province, was officially registered under the People’s Financial Institution Act. ready to serve and build trust among members
Today (February 6, 2023) Mr. Sitthiwat Wachsit, Director of Branch Operations in the Upper South Region Bank for Agriculture and Agricultural Cooperatives (BAAC) together with Mr. Wisa Poolsirirat, Governor of Chumphon Province Jointly launching Ban Prasanmit People’s Financial Institution, Phato Sub-district, Phato District, Chumphon Province, which has been developed and upgraded from a community financial organization to become a community financial institution in accordance with the People’s Financial Institutions Act B.E. 2562 by the BAAC. MP as assigned to be the coordinator bank Participated as a consultant in the direction of operations. Providing financial management knowledge Deposit-withdrawal services, occupational credit support and emergency spending allocation of welfare to members and communities Including accurate and transparent accounting. Originally, Baan Prasarnmit Financial Organization had only an operating area in Moo 18, Phato Sub-district, when it was upgraded to become a financial institution, people expanded the service area to 19 villages in Phato Sub-district, Phato District, Chumphon Province, with the strength of being a service center. efficient finance Have sufficient funds for operations It has a competent board and is recognized by community members. Technology has been applied in operations. using accurate accounting software This makes it possible to service members conveniently and quickly.
BAAC is committed to enhancing the efficiency of community financial organizations. To be a center for money management within a strong community Able to take care of and create opportunities to access funding sources for people in the community. This will reduce the problem of inequality in access to financial services. Encouraging members to create discipline in saving money and adhering to the principle of dependence in the community. Including encouraging members to access low-interest funding for spending and investment. In order to prevent turning to rely on informal debt, which is a heavy burden, the BAAC has driven such work. under strategy Integrated community potential development To develop a sustainable grassroots economy under the BCG Model, with the goal of supporting more than 243 community financial organizations in order to upgrade them to become a people’s financial institution that can truly facilitate and meet the needs of people in the community. Kor Sor has also developed and supported four other financial institutions, namely Ban Suay Sri Community Financial Institution; Surat Thani Province Tha Makhuea Subdistrict Community Financial Institution Kamphaeng Phet Province Naphin Community Financial Institution Ubon Ratchathani Province and Ban San Tai community financial institution Chiang Rai to be able to register as a legal public financial institution within February 2023
