The Credit Union Social Contribution Foundation said on the 23rd that it has provided 4.2 billion won over eight years since 2018 through its inclusive finance support program for a range of socially and economically vulnerable people.
The National Credit Union Federation is offering tailored financial products for low-income and vulnerable groups, including the Aug. 15 Liberation Loan, the Multi-Child Housing Stability Support Loan, the Small Business "EoBuBa" Plan, and the National Heritage "EoBuBa" Installment Savings.
The foundation's core goal is to realize social value through finance by easing the interest burden of inclusive financial products pursued by the credit union, helping the financially excluded recover credit and achieve economic self-reliance.
To that end, the Credit Union Foundation is continuing practical financial support by providing 3.53 billion won in loan interest support for employment and industrial crisis areas, 1.26 billion won in loan interest support for multi-child families, and 40 million won in premium support for seniors. It is also steadily continuing interest support for financial products for multicultural families, young people, and small business owners, establishing a virtuous cycle of social finance.
Kim Yoon-sik, chair of the Credit Union Foundation, said, "Credit unions' inclusive finance is being evaluated as a model case of expanding a financial institution's core business into social responsibility," adding, "We will continue to create warm change through people-centered finance."