The National Credit Union Federation of Korea announced on the 5th that its low-interest loan products targeted at social solidarity economy corporations achieved a cumulative financial supply performance of 211.5 billion won as of the end of July.
In July 2016, the credit union began to actively support financial assistance for social solidarity economy corporations with the introduction of the 'Credit Union Cooperative Cooperation Loan.' In particular, it alleviated the financial burden of social economy corporations by providing low-interest loans at an annual rate of 2% to 4% (variable rate) utilizing the 'Credit Union Social Economy Support Fund' jointly established by local credit unions.
Social solidarity economy corporations generally face difficulties in securing funding through commercial banks due to their short operating history, small scale, and low revenue. To address this, the credit union has reduced the thresholds for financial accessibility for social enterprises by applying social value assessments and specific evaluation criteria beyond basic financial reviews, thus expanding substantial support.
As of the end of July 2025, the credit union provided financial support to a total of 2,056 cases in 1,107 social solidarity economy corporations nationwide, amounting to 211.5 billion won. It contributed to establishing a sustainable growth foundation for local cooperatives and social enterprises by supporting various sectors, including manufacturing (37.4 billion won), solar power generation (30.7 billion won), educational services (24.3 billion won), health and social services (21.4 billion won), and retail (20.6 billion won).
Collaboration with local governments is also being continuously expanded. The credit union has signed business agreements for social economy funds with Gyeonggi Provincial Government in 2019, Chungcheongnam-do Provincial Government in 2020, and Gyeongsangnam-do Provincial Government in 2021 to implement tailored financial support for regions. By the end of July 2025, it has executed financial support of 47 billion won (388 entities) in Gyeonggi Province, 8.6 billion won (122 entities) in Chungcheongnam-do, and 1.6 billion won (29 entities) in Gyeongsangnam-do.
Kim Yoon-sik, chairman of the National Credit Union Federation of Korea, noted, "As Korea's representative financial cooperative, the credit union is creating a financial ecosystem for the growth of social solidarity economy corporations based on the values of cooperation and coexistence," adding, "We will continue to expand cooperation with industry-specific and institutional sector organizations, and further accelerate the realization of social solidarity finance where members and local communities grow together."