Shinhyup Supports 50,000 People with 20 Billion Won through Three Major Social Contribution Campaigns

Credit union employees are taking a commemorative photo after volunteer work. Photo by ShinHyup Central Association

[Asia Economy Reporter Kim Min-young] The Social Cooperative Shinhan Social Contribution Foundation, established by the National Credit Union Federation of Korea, announced on the 1st that it has delivered donation funds totaling 20 billion KRW to over 50,000 people through three major social contribution campaigns since its founding in 2015.

Based on the spirit of sharing of credit unions, the foundation promotes three major campaigns: the "Economic Movement for Better Living" to revitalize the social and local economy, the "Educational Movement to Brighten Society" supporting the healthy growth of children and adolescents, and the "Ethical Movement for Living Together" caring for marginalized groups in local communities.

As Korea's first social contribution specialized donation cooperative, all of the foundation's projects are operated through voluntary donations from credit unions and their employees, making these achievements even more meaningful.

Credit unions were established in 1960 with the cooperative spirit of creating prosperous villages together at a time when banking services were difficult for ordinary people to access, striving to help the economic independence of low-income citizens and small business owners and to resolve economic disparities between social classes.

Kim Yoon-sik, chairman of the foundation, stated, "Just as credit unions have played a reliable partner role in the lives of ordinary people over the past half-century, we will continue to support our marginalized neighbors closest to the local community," adding, "We will do our best to create diverse social values and promote mutual growth between local communities and credit unions."