Shinhyup Central Association Holds Non-Face-to-Face Regular General Meeting with 21 Asian Countries

On the 10th, at the Daejeon Credit Union Central Hall, Kim Yoon-sik, President of the Credit Union Central Council and Chairman of the Asia Credit Union Confederation, is conducting the 40th Regular General Meeting of the Asia Credit Union Confederation via video conference. Photo by Credit Union Central Council

[Asia Economy Reporter Song Seung-seop] The National Credit Union Federation of Korea (NACUFOK) announced on the 13th that it held the '2021 Asia Credit Union Confederation (ACCU)' Annual General Meeting and Board of Directors meeting.

ACCU has held forums every year with participation from credit unions across Asia and worldwide. This year's annual general meeting and board meeting were held via video conference at the Daejeon NACUFOK headquarters from the 2nd to the 10th. The meeting was attended by over 50 Asian credit union leaders from 21 countries. Asian credit unions have 48 million members active in 23 countries.

At the 40th ACCU Annual General Meeting annual report, the importance of Korea's credit unions' Business Development Services (BDS) supporting small business owners in the Asian region was conveyed. Discussions were also held on operational support for Asian credit unions facing management difficulties due to the spread of COVID-19.

In particular, this meeting reviewed plans to develop a leadership training program unique to credit unions. From October this year to June next year, a leadership education project will be conducted in 15 federations. An agenda was discussed to conduct the program via video conference so that Asian member countries can share related programs without restrictions.

Kim Yoon-sik, NACUFOK Chairman who also serves as ACCU President, emphasized in his opening remarks, “As the COVID-19 pandemic prolongs, the suffering of ordinary people and small business owners continues, making the responsibility of credit unions based on the cooperative spirit that differentiates them from other financial institutions even more important. Through solidarity and cooperation, we will fulfill our social responsibilities and further strengthen untact financial services that respond to the demands of financial consumers.”

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