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2016 Highlights

NACUFOK 2016 Highlights of International Relations

September, 20162016 Association of Asia Confederation of Credit Unions Forum and Annual General Meeting

NACUFOK hosted the 2016 Association of Asia Confederation of Credit Unions Forum and AGM at Songdo Convensia in Incheon from September 5th to 11th. Some 800 credit union CEOs from 24 countries, including those from Asia as well as the U.S., Canada and Australia, participated. With a theme of “Shaping Our Future - Connect, Collaborate, Differentiate,” this was the largest-ever credit union event in Asia. Meanwhile, during the regular general assembly of the Association of Asia Confederation of Credit Unions (“ACCU”) held on the last day of the event, September 11th, Mr. Chulsang Moon, NACUFOK Chairman, was also elected Chairman of the ACCU, and started to represent the 4.7 million credit union-related persons on the continent. He also said that he would increase the number of Asian credit unions Korea supports from the current 66 to more than 100, in a bid to strengthen credit unions in underdeveloped Asian nations.

April, 2016WOCCU BoD Meeting Held in Korea

The World Council of Credit Unions (“WOCCU”) Board of Directors (BoD) meeting was held in Korea from April 6th to 11th, 2016. WOCCU wished to hold its BoD meeting in Korea this year as it sought to understand the business and management experience of Korean credit unions, whose assets rank 4th in value of all credit unions in the world, and to increase exchange between credit union CEOs around the globe. A group of 24 persons including Anne Cochran, WOCCU Chairperson and Secretary General of the Louisiana Credit Union League, visited Seoul for the actual BoD meeting from April 6th to 7th. On the 8th, they visited the NACUFOK office and training center in Daejeon to witness the history of the credit union movement in Korea and observe the training system for credit union employees and members. Regarding this year’s visit by WOCCU, Ms. Cochran said, “The credit unions in Korea have achieved a very exceptional level of success even when compared to the history of all credit unions in the world. While most underdeveloped countries needed financial support 56 years ago, Korea’s credit unions focused on building infrastructure, such as passing the Credit Unions Act and a training center. Korea’s credit unions focused on their members during their earliest stages, and this focus has been the key to their success.”