Kim Yoon-sik, Chairman of the National Credit Union Federation, "Filling the Financial Gap to Stand Alongside Commercial Banks"

Yunsik Kim, President of the National Credit Union Federation of Korea

Kim Yoon-sik, Chairman of the National Credit Union Federation of Korea, stated on the 27th that "large credit unions will strengthen their competitiveness through institutional improvements to stand shoulder to shoulder with commercial banks."

At the 50th Regular Delegates' Meeting held at the Daejeon Credit Union Central Training Center on the same day, Chairman Kim said, "At a time when the difficulties of local residents are increasing due to population decline and the hollowing out of old downtown areas, we cannot stop face-to-face transactions citing profitability deterioration."

In his commemorative speech, Chairman Kim identified the co-growth of large and small credit unions as the top management priority. This is to fill the financial gap caused by the withdrawal of commercial bank branches with credit unions.

He added, "At a time when the rapid rise in loan interest rates is making the economy difficult for ordinary people, credit unions, established to improve the economic status of members and promote regional development, must demonstrate greater social responsibility and dedication to their communities," and emphasized, "Based on assets of 143 trillion won, strengthened soundness, and elevated status, conscious efforts are needed to meet internal and external expectations."