The Federation of Savings and Credit Cooperatives of Thailand Limited (FSCT) participated in the virtual study visit program hosted by Association of Asian Confederation of Credit Unions (ACCU) and Credit Union League of Thailand Ltd. (CULT) featuring Nong Kanang Credit Union (NKCU) on April 8, 2022.
NKCU is one of the well-known credit unions in Phetchaburi Province in Thailand. The twenty-six founding members contributed initial share capital of USD 45.24 (1,524 Baht) established the credit union. It primarily serves farmers and field laborers. As of February 2022, NKCU has 12,515 members with USD 8.38 million in share capital, USD 10.3 million in savings and USD 5.1 million in reserves and other funds. The vision is “To be the sustainable credit union that builds members’ wealth with quality services and transparent management”. The 6 missions can be seen hereunder.
1. CU Management – development knowledge and abilities of directors,
staffs and members
2. Lending Services – add new loan product and payment channels
3. Savings Services – develop new savings product
4. Welfare Services – develop new business, housing to members, provide
annual health care and improve a safe agriculture learning center to be
an eco-tourism attraction
5. Technology Management – develop IT systems to be used properly and
educational channels to learn cooperative information
6. Caring and promoting society and communities – promote and develop
social and environmental activities