The Korean Credit Union Movement Shines!

The National Credit Union Federation of Korea (NACUFOK) recently hosted a CEO and Regulator Conference on JeJu Island where CUFA was invited to speak.  The President of NACUFOK, Dr Chul-Sang Moon opened the conference and outlined their active support for the Asian credit union movement through such conferences.

With 920 primary credit unions and 5.8 million members with 60 billion dollars in assets, the Korean credit union movement is a shining example of what can be achieved with cooperation, as Dr Moon highlighted during his speech.

‘The Korean credit union movement started in 1960 and confronted many challenges and difficulties, it has overcome them through the spirit of credit union self-help, self reliance and cooperation.’

The conference welcomed participants from Sri Lanka, Philippines, Bangladesh, Taiwan, Thailand, Malaysia, Laos and Australia. CUFA was invited to highlight their work in the Asia Pacific region as a leading cooperative development agency.

CEO of CUFA, Dr Peter Mason took the opportunity to highlight the soon to be released Social Return on Investment Report, which demonstrates the benefits of CUFA’s unique program methodology and thematic approach to supporting and strengthening credit unions and their communities in the Asia Pacific region.

The conference was held over 3 days and gave the participants ample opportunity to not only learn from the conference speakers but to share information and network with other delegates. It also provided delegates with the chance to  first hand the innovations implemented by the Korean credit union movement.

These innovations have seen them become one of the fastest growing and most successful credit union movements, not only in Asia, but around the world.

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