OnFebruary 11, 2022, Association of Asian Confederation of Credit Unions (ACCU) and Credit Union League of Thailand Ltd. (CULT),featuring Soon Klang Thewa Credit Union (SKTCU) in Thailand hosted the Virtual Credit Union Study Program. The participants composed of 190 Asian Credit Union leaders and professionals from 9 countries. The program provided the participants with the opportunity to exchange and learn best practices.
SKTCU, as the first credit union in Thailand, is a small organization aiming to help the disabilities and people who lack of opportunity in education, economic, and social support including public health care, and its success story inspired the credit union's ideology and principles in country. Rev. Fr. Alfred Bonninque, S.J., Dr. Chaowalit Jittranukrao, and members Huaykwang slum community founded SKTCU. The credit union stemmed from an adult education center operated by a volunteer group to improve the living standards and educate people in slum areas on financial literacy. In 1965, Dr. Amporn Wattanawongs and 13 founding members transformed the center to “Soon Klang Thewa Credit Union” with an initial capital of 360 Baht. The work of SKTCU are from the kind-hearted volunteers who want a better life for the slum people. Then, it has become known to be the root of Thailand's credit union movement.
As of December 2021, SKTCU had share capital of 3.81 Million USD, deposit of 2.11 Million USD, Loan of 3.44 Million USD and assets of 6.80 Million USD. Presently, it strictly follows its cooperative moral virtues: honesty, sacrifice, responsibility, compassion, and trust. It became known as a community-based financial institution to help improve people's living standards through self-help and mutual help.
