Credit unions from across the country recorded an aggregate net profit of KRW122.4 billion as of the end of 2006 to continue from KRW89.4, 99.5, 131.7 and 153.6 billion in 2002, 2003, 2004 and 2005, respectively, based on its stable profit structure. The aggregate amount of the assets of Credit Unions has increased rapidly to reach 26.3 trillion won by the end of 2006. Asset soundness and profitability have also increased strongly. In 2006, the aggregate asset amount of Credit Unions grew by 9.7 percent. Net capital ratio stood at 3.1 percent, recording an increase for five straight years. The ratio of loans in the total assets showed the highest figure in the post-financial crisis period. Fee revenue has increased by 15 percent, indicating that the revenue structure is going in a desirable direction.

On June 22, 2006, NACUFOK launched the Mutual Insurance Customer Service Center to provide support to relevant consulting services related to the Mutual Insurance business. The center, which also serves as a call center, plans to handle relevant complaints or requests made by members and insurance subscribers on a one-stop basis. It has taken over the function of the existing Telemarketing/Call Center and is expected to meet the diverse demands of users and provide professional consulting service. The center (Phone : 1544-3030) operates between 9:00 am and 6:00 pm on weekdays.

On October 30, 2006, NACUFOK enacted the Code of Ethics for Employees of Korean Credit Unions as part of the effort for more systematic ehtical management. The code is comprised of a Preamble and six chapters. The Preamble states core ehtical guidance to be followed by employees. Chapter 2 states that members should be respected and their interests should be protected. Chapter 3 includes contents concerning the need for respect paid to employees and their reasonable guidance and supervision. Chapter 4 stresses the importance of faithful behavior as employees, of compliance with laws and regulations, and of mutual respect between employees. Chapter 5 states that the private life of employees should be respected and positive efforts should be made to train good-quality employees. Finally, Chapter 6 stresses the importance of observing proper social values and participation in social activities. The enactment of the Code of Ethics is expected to serve as an occasion to refresh the relevant resolve of employees at primary Credit Unions and NACUFOK.

On September 29, 2006, Dongwon Credit Union and Samil Accounting Corporation Credit Union obtained the Financial Supervisory Commission's (FSC) approval for their respective establishment. They Started operation and joined NACUFOK. Prior to this, the most recent establishment of new Credit Union took place in 1998. The FSC has taken a conservative attitude toward establishment of new credit unions, which were started in 2004, finally bore fruit in recognition of the sufficient feasibility of the business plan. Well performing businesses and local adminstrative units with a sfficient number of potential members will be encouraged to establish credit unions in consideration of their potential for development and the possibility of the FSC's approval. Efforts will also be made to open the way for establishment of credit unions for community and association/group through enhancement of the creditworthiness of Credit Unions.

NACUFOK released TV commercials on loans offered by Credit Unions. They have used the statement "We regard even your passion as a credit." They stress that Credit Unions are more friendly and closer to users than banks. A professional model appearing in the commercials tries to borrow money from banks, but they require particular terms and coditions, including presentation of physical collateral. He visits a Credit Union, which agrees to lend him money only based on his skill as a professional model, his dreams and his passion. NACUFOK have ditributed articles displayed in the commercials to Credit Unions so that those visiting them feel as if they are the hero appearing in the commercials in an effort to maximize the effort of the commercials. It also has released a commercial composed of two 15-second ad spots in CATV, which recently emerged as a very effective media for commercials.

The National Assembly passed an amendment to the Tax Reduction and Exemption Act, which extended the current tax exemption for Credit Union members' deposit amounting to not more than 20 million won for three more years, provided that this will not apply to a deposit made by a non-adult on and after July 1, 2007. Other contents of the amendment to the Act include extension of the deadline for tax exemption concerning savings made by a senior citizen and the handicapped as a chief means of living, and investment made in a Credit Union. The National Assembly passed an amendment to the Local Tax Act, which extended the current exemption of acquisition tax and registration tax concerning real estate acquired by a credit union for business for three more years. It also passed an amendment to the Credit Union Act, which will include P&A as a method of liquidation of a poorly performing credit union, in addition to merger, and check card issuance in the business of Credit Unions. NACUFOK revised its deposit business guideline for employees accordingly.