Debt piled up almost destitute for every member of the Pa Mok Agricultural Cooperative Ltd. after encountering a financial crisis. Use informal loan services But luckily, the Pa Mok Agricultural Cooperative Limited, Bang Pla Kot Subdistrict, Pa Mok District, Ang Thong Province, came to take care of this group of members in time. Serve as an intermediary in negotiations between creditors and debtors. Until finally the cooperative agree to buy all debt Then have the debtor pay directly to the cooperative instead at a low interest rate. “Actually, neither the creditor nor the debtor is anyone else. They are all members of the cooperative. Only the debtor doesn’t want to borrow money from the cooperative. Because there are complicated steps It’s better to borrow outside the system. Easy to borrow, get money quickly Even though the interest rate is high Because I think I can pay it back. If you can sell the rice at a good price, you will get the product you want.” Ms. Rungnapa Wansawat, Assistant Manager of the Pa Mok Agricultural Cooperative Ltd., points out the motivation for members to borrow money outside the system…the first few loans are no problem. Cooperative debt repayment is still as usual, but Over the past 1-2 years, members have refused to repay their debts to the cooperative. When going to the data collection area to inquire about the reason, it appeared that Members must pay off outstanding debts outside the system first. Due to being pursued by creditors every day, the information was brought to discuss in the cooperative committee. To find a way to provide relief to members Ready to find a solution together After a three-party discussion between creditors Debtors and cooperatives to request a partial interest reduction In the end, it was concluded that the cooperative would be the one to buy the debt of the members who participated in the project to solve the outstanding debt problem and then have the members pay the debt with the cooperative instead. “It is about changing creditors from outside the system to being in debt with the cooperative instead. Interest rates are much cheaper. And the cooperative will come to promote careers for them to have additional income so that they will have money to return to the cooperative in the future. By using the philosophy of sufficiency economy to encourage members to practice integrated farming. which was recommended by the Director of the Cooperative Business Promotion and Development Group Ang Thong Provincial Cooperative Office Have members grow vegetables in their own home gardens. At least it helps reduce costs. Generate daily and monthly income without having to rely on rice farming as your main occupation alone.” Cha-om This is another plant that is recommended to be planted. Because it is a plant that uses little water, is easy to care for, is resistant to disease and insects, has a harvest life of many years, sells for a good price, and there is definitely a market to support it. And after going to study the success of Pho Thong Agricultural Cooperative Limited, Pa Mok Agricultural Cooperative Acacia trees were purchased from the Pho Thong Cooperative. To encourage members to plant Ready to take care of procuring production materials and equipment, including manure, as well as preparing planting plots, maintaining and harvesting, and also arranging markets to sell the produce. “Members who join this project with us must use the available space around their own homes. How much do you have? That’s all you need. You can grow acacia, you can have bananas, you can even mango. There are both turmeric and flower water. It depends on the convenience of the member. Some people have less space and it is more convenient to plant cha-om. We just introduced it to promote members who had debt problems at the beginning of this year. Now we are in the process of expanding the results to other interested members.” For members who have already started planting cha-om. Even though it’s now in the summer Cha-om cannot grow fully. But the harvest has begun. This allows members to have income and be able to pay monthly debts to the cooperative. Chatchai Siripat click to read more “Agricultural News”
