Credit Union, surplus for 19 consecutive years… Financially Vulnerable Class and Local Economy Spur

The credit union, which recorded a surplus for 19 consecutive years, emphasized that it will support the financially disadvantaged class and the local economy based on its total assets of 111 trillion won.

On the 26th, the Shinhyup held the ’48th Regular Delegation Meeting’ held at the Multipurpose Hall of the Shinhyup Central Training Center in Deokmyeong-dong, Yuseong-gu, Daejeon, and announced that last year’s net income increased by 13 billion won to 383.1 billion won.

Total loans were 78.900 trillion won, an increase of 7.900 trillion won (11%) from the previous year, and net income increased by 13 billion won (3.5%) to 383.1 billion won, achieving a surplus for 19 consecutive years. The National Credit Union also made a net profit of 302.1 billion won.

The credit union decided to expand social and inclusive finance this year based on the surplus for 19 consecutive years. To this end, the 7th Inclusive Finance Project will be expanded and operated this year to support the financially vulnerable groups and local economies.

Since Chairman Yoon-Sik Kim took office in 2018, the 7th Inclusive Finance Project has started with the goal of solving social problems such as aging, low birthrate, employment crisis, and financial alienation. In recognition of these efforts, he was the first financial company in the world to receive a blessing from the Holy See in October last year.

In a commemorative address on the day, Chairman Kim said, “The credit union recorded 111 trillion won in assets and 79 trillion won in total loans despite the difficult economic situation last year, serving as a pick-up for alleviating the financial crunch for the common people.” Thanks to the hard work of over 18,000 credit union employees nationwide.”