'National Credit Union Federation of Korea'

2023 International Affairs Highlights

World Credit Union Conference(WCUC)

The 2023 World Credit Union Conference took place in Vancouver, Canada, from July 23rd to 26th. Over 3,000 representatives from 2,500 credit unions and 60 countries attended the event.

The Conference featured keynote presentations and breakout sessions on over 40 topics, including those on financial inclusion, digital transformation, governance, climate change, and sustainability. The conference aimed to promote the improvement of members' lives through the shared values of cooperative finance.

Keynote presentations were delivered by Alison Burns and James Taylor on corporate ethics and innovation, creativity, sustainability, and ethical leadership. Kim Lear, a prominent figure in broadcasting and journalism, emphasized the importance of communication.

On the 24th, NACUFOK’s Tae-yeong Lee and Jeeye Choi led a breakout session on mutual growth. During the session, they shared positive outcomes achieved through ‘The 8 Inclusive Finance Projects', a Korean initiative focused on building a sustainable business model by enabling mutual growth with local communities and cooperatives.

The next conference is scheduled to take place in Boston, USA, in July 2024.

ACCU BOD Meeting and ACCU CEO Workshop held in Korea

The Asian Confederations of Credit Unions(ACCU) holds its board of directors meeting annually to address the challenges facing credit unions in the Asian region and to share insights. Mr. Kim presides over the meeting as the president of ACCU.

The 111th Asian Confederations of Credit Unions(ACCU) board of directors meeting took place in Seoul on March 16th. This was the first BOD meeting held with ACCU’s newly appointed directors, and Mr. Younsik Kim, as president of ACCU, presided over the meeting. CEO Elenita San Roque, reported on financial matters, including the approval of the audit report and a presentation on business support programs.

In addition, beginning this year, ACCU’s CEO Workshops, which were conducted virtually for the last few years due to COVID-19, were able to resume in-person. ACCU CEO Workshops, which have been conducted for 9 years now, are targeted at CEOs of member institutions, to establish management strategies for the development of Asian credit unions.

This year’s ACCU CEO Workshop was held in Korea, and was attended by 20 representatives from 8 countries. The workshop included a session on the supervisory framework of Korean Credit Unions, and visits to a member credit union, NACUFOK headquarters, data center, and training institute. Discussions were also held between the regulatory authorities (supervisors) from each country to explore various improvement measures.

Through the workshop, participants were able to return home with a better understanding of the operations of Korea and its credit union system.

2023Asian Credit Union Forum

The Asian Credit Union Forum took place in Kathmandu, Nepal, from September 15th to 17th. The event was jointly organized by the ACCU, the Nepal Federation of Savings and Credit Cooperative Unions(NEFSCUN), and the Nepal Cooperative Bank Limited(NCBL).

The theme of the forum was ‘Strengthening Credit Union Momentum: Purpose, People, Passion', and a total of 427 credit union representatives and members from 19 Asian countries participated in the event.

Presentations were delivered on various topics including 'Enhancing Member Capacity Beyond Financial Services', emphasizing the importance of building credit union membership equipped with digital knowledge and skills as a survival strategy for the future society.

On the 16th, President Kim participated as a panelist in a parallel session titled ‘True Passion for People Creates Truly Great Leaders,' stressing the importance of desirable leadership for the expansion of the credit union movement. During a keynote session, Seung-joo Shin fo NACUFOK showcased activities related to the digital platforms of the Korean Credit Unions.

Asian Credit Union Leaders’ Program(ACL)

The Asian Credit Union Leadership Program (ACL), an annual training initiative since 2017, aims to contribute to the development of the Asian credit union movement and the successful establishment of operational systems. The 7th ACL program took place in 2023, from November 29 to December 6. After three years of virtual sessions due to the effects of COVID-19, the resumption of in-person sessions was well-received by ACCU members and participants.

The program this year targeted employees from ACCU member institutions, and a total of 12 participants from 6 countries successfully completed the training. The curriculum included lectures and discussions covering various areas such as the history and development of the Korean Credit Union, challenges, inspection and supervision, deposit protection system, and information technology.

In addition to visits to NACUFOK Headquarters and Training Institute, participants also visited Eunpyeong Credit Union, where they explored marketing cases and shared strategies for achieving sustainable development goals.

Throughout the program, participants were required to submit country status reports and developmental strategies for their respective institutions. Based on the level of participation and the evaluation of reports, five outstanding participants were selected, where the most outstanding participant, NATCCO's Henry Joseph, was invited back to next year's ACL program.

2023 Asian Credit Union Leaders Program