Korea Federation of Community Credit Cooperatives

Korean Federation of Community Credit Cooperative (KFCCC) is a banking institution based in Seoul, South Korea. KFCCC was established in 1973 to supervise the work of Community Credit Cooperative (CC), increase joint interests, and promote sound development. As a partner of Community Credit Cooperative, it is establishing management conditions pursued by Community Credit Cooperative, helping it to achieve continued growth. Its main businesses include guidance and supervision, which involve supporting the management of CC for sound growth and supervising CC. As for its credit business, it performs the role of a central bank by controlling the CC's liquidity. The bank also handles public relations and the insurance business for CC and its members, manages depositors protection fund to guarantee the return of savings of CC members in emergencies, and is in charge of training the directors and staff of CC and KFCCC. It also engages in domestic and foreign investigation and research for long-term development of CC and KFCCC. The goal of its international cooperation business is to forster friendship and strengthen cooperation with international cooperative societies. The bank operates in different segment of businesses namely credit business, reserve for repayment, receipt of savings, lending, electronic banking, cashier's check, check card and IT. The institution is managed and administered by the board of directors which comprises of twenty-one members.