MFI Information:

TYM (Tao Yeu May Fund)
Mission: To improve the quality of life of poor Vietnamese women in rural areas by providing them with credit, savings and micro-insurance services, creating favourable conditions for their participation in economic activities and enhancing their role in society.

Decent Work Area:

Vulnerability, risk management and overindebtedness

Innovation:

Combination of Financial & Non-Financial Services: Risk management training and upgraded microinsurance product

Introduced integrated client training on risk management and microinsurance. The goal of training was to increase the limited awareness among TYM clients about the use of the MAF and other risk management strategies that would allow clients to better cope with risk and unforeseen expenses.

Results:

Strongest impact on financial attitude and risk management:

• 15% decrease in attitude that keeping track record of income and expenditure is not necessary
• 4% reduction in attitude that expense analysis is not necessary
• 10 to 17% increase in positive attitudes towards savings
• 22% increase in ability to put money aside for emergency expenses;

Some impact on asset building

• Increase in motorbike liability insurance by 5%

Some impact on multiple borrowing / over-indebtedness

• Decrease of 12% in taking out loan to repay another

Some impact on vulnerability

• Ability of HH to cover their expenses increased by 3.3%

Relevant links:

• 1 Page poster with summary of MF4DW intervention and MFI profile
• TYM Vietnam: Microfinance and risk management: An impact assessment of an integrated risk management and microinsurance client training.