Financially support NIST staff by providing academic scholarships and opportunities to launch small enterprises
The NIST Microcredit Bank (NMB) is a student-led social entrepreneurship club based on Muhammad Yunus’ micro-credit banking model; the bank supports low-income workers in the school community. Current schemes include scholarships and entrepreneurial initiatives through a loan or grant system. The bank gives members of the school community an opportunity to make an effective contribution to the local society.
What’s the Difference Between the the NIST Development Bank and NIST Microcredit Bank?
NIST Development Bank is more devoted to service-oriented loans to existing organizations, while the NIST Microcredit Bank is more expansive in scope. We endeavour to provide seed money for new ideas. In addition, we provide low-interest loans for support staff and educational scholarships for their children. Together, we form the backbone of student-generated community investments here at NIST.
Which UN Sustainable Development Goals Do We Support?
To provide a clear context for the aims of service groups at NIST, we align our projects to the United Nations Sustainable Development Goals (SDGs). “The Sustainable Development Goals (SDGs), otherwise known as the Global Goals, are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. The SDGs work in the spirit of partnership and pragmatism to make the right choices now to improve life, in a sustainable way, for future generations.” This NIST group supports the following goals:
Key Contacts & Experts
Are you interested in learning more about this group? Contact one of the team members to discover ways that you can become involved.
Por (Supakorn) A.
Vice President of Operations & Chairman of the board
The revolutionizer who revamped the bank’s internal operations and scaffolded a new structural framework for the group who is also the chief negotiator of our investment contracts with student entities.
Co-president & Chief Executive Officer
The mastermind who reformed how the bank conducts its scholarship distribution ceremony.
Co-president & Chief Strategist
Originator of “Sunshinomics” and the spearhead who changed Nist Microcredit Bank to NIST Microcredit Investment Bank. Affectively strategizes the bank’s objectives in meticulous and precise fashion, enabling our group to make logical decisions in a timely manner.
Sustainability & Transparency
All NIST service groups are held to our community’s high standards and values: integrity, caring, community and growth.
Funds Raised (THB)
We have raised over 1,460,000 THB in the past 2 years to support the educational scholarships and debt relief loans.
To become self sustainable within the next 5 years, without relying on external donations to fund benevolent causes for our NIST staff
95% of all funds and resources raised have been directly funneled to the beneficiary communities.
First Personalized Story:
A woman has been working at NIST for more than 10 years, she is currently the only source of income for her family (including her parents). She took a loan, but still has to pay off the loan. She asked for a loan so that she would have the opportunity to remove herself from this poverty cycle and also provide for her daughter’s education. We provided her with the loan, but we also suggested to her to apply for the scholarship grants that are offered. With the loan, she has moved forward in a positive direction. Stories such as this have been present throughout the several years we have continued this service group. We are thus exploring debt counselling as well as hiring an individual that can instruct the low-income workers here at NIST not to be drawn towards these loan sharks.
Second Personalized Story:
Almost everyday going to the basketball courts, you take things for granted. Balls in the cages, floors clear and rims pulled down. It is only right for us to give, the man who made this possible, an opportunity in return. Having approached our group for both a debt loan as well as the educational scholarship for his son shows the extent of MCB’s awareness. We provided both and every time we see him, we have learnt to appreciate the work he does for us to have an easier lifestyle.
Access curriculum and learning materials that help develop and support our aims. Get inspired and feel supported with materials to help you take on service learning in your own community.
Visit the Microcredit Bank Facebook page to learn more about our group, see photos from our archives and read the latest updates about our activities.
Contact us to learn how you can support this NIST service group. Whether you wish to donate, offer your expertise, provide resources or more, get in touch!