Credit Union Provides $50,000 in Emergency Aid for Nepal's Flood Recovery

[Financial News] The National Credit Union Federation of Korea has provided $50,000 in emergency relief funds to support the swift recovery and relief of flood victims in Nepal. This emergency aid, the first in 11 years since the relief efforts following the major earthquake, adds significance to the long-standing cooperation and solidarity between Korean and Nepalese credit unions.
On the 16th, the Credit Union announced that it had provided $50,000 to support the swift recovery of Nepal and relief for victims of the recent record-breaking floods.
This donation will be delivered to the secretariat of the Asian Credit Union Confederation (ACCU) through the Korea Credit Union Foundation and will be used for the recovery of affected areas and support for disaster victims.
The Nepal Federation of Savings and Credit Cooperative Unions Ltd. (NEFSCUN) announced that 35 local credit unions were damaged by the floods. It was found that in some areas, members are experiencing difficulties using financial services normally.
Ko Young-chul, Chairman of the National Credit Union Federation of Korea, said, "I extend my deepest condolences to the people of Nepal and local credit union members who are suffering from the sudden disaster," adding, "Based on the spirit of solidarity and mutual aid among cooperatives, we will do our utmost to help residents in the affected areas recover their daily lives as soon as possible."
The Credit Union donated $100,000 during the 2015 Nepal earthquake and provided relief supplies as well as conducting local volunteer activities.
Meanwhile, Chairman Ko was elected as the new president of the Asian Credit Union Confederation (ACCU) at the 45th Annual General Meeting held on the 13th. His term is two years.

[email protected] Lee Hyun-jung Reporter