"My Child’s First Savings Account with the Korean Federation of Community Credit Cooperatives"... Georeumma Savings Account Subscribers Surpass 22,000

[Financial News] The Korean Federation of Community Credit Cooperatives’ Georeumma Savings Account surpassed 22,000 subscribers this year, establishing itself as children’s first-ever savings product. 
The Central Council of the Korean Federation of Community Credit Cooperatives announced on the 3rd that subscribers to the MG Hope Sharing Georeumma (First Steps) Savings Account, a social-contribution financial product launched to help address the low birth rate, had exceeded 22,000.
The Georeumma Savings Account is a one-year savings product for children born this year that offers an annual interest rate of up to 12%. Customers can deposit up to 300,000 won per month. The annual interest rate is 10% for a first child, 11% for a second child, and 12% for a third child or later. Children born in areas facing population decline receive an annual interest rate of 12% regardless of their birth order.
The Georeumma Savings Account, launched in April with a limit of 50,000 accounts, has sold approximately 22,000 accounts to date. 
An official of the Central Council of the Korean Federation of Community Credit Cooperatives said, "We introduce a new product every year to provide tangible financial benefits to families with newborns and contribute to efforts to overcome the low birth rate." The official added, "We will continue expanding various support programs and social-contribution activities while growing together with local communities."
Meanwhile, the Korean Federation of Community Credit Cooperatives has launched a social-contribution financial product every year since 2023 to help address the low birth rate. The cumulative number of subscribers has reached approximately 156,000 through this year, drawing considerable interest. The 2023 Kkangchong Savings Account had 35,039 subscribers, followed by 49,563 for the 2024 Yongyong Savings Account and 49,803 for the 2025 Baby Snake Savings Account. 
[email protected] Hyun-jung Lee Reporter