Ko Young-chul, chairman of the National Credit Union Federation of Korea, has been elected the new chairman of the Association of Asian Confederation of Credit Unions (ACCU).
The Korean federation said on the 14th that Ko was chosen at the 45th ACCU Annual General Meeting held in Kuala Lumpur, Malaysia, on the 13th. His term runs two years, through 2028.
ACCU is an international cooperation body that shares best management practices among credit unions across Asia and charts the direction of the credit union movement. This year's Asian Credit Union Forum and annual meeting drew 571 credit union officials from 22 Asian countries.
At the event, the Korean federation presented the operations and results of its "shared growth cooperative program" under the theme "Connecting Growth Beyond Systems." Launched in 2014, the program is a mutual cooperation model that pairs larger cooperatives, designated as "partner cooperatives," with smaller ones, designated as "growth cooperatives," to share management know-how and human resources capabilities.
Forum participants this year discussed the role of credit unions and strategies for development to respond to a rapidly changing financial environment, including digital transformation, the use of artificial intelligence, governance and organizational innovation, and member-centered management.
"For credit unions to grow sustainably in a rapidly changing financial environment, we must share each country's experience and capabilities and find solutions together," Ko said. "We will share the experience in mutual growth and cooperation that the Korean credit union movement has accumulated with member countries, and work to strengthen the competitiveness and sustainability of credit unions in Asia."
The Korean federation hosted the first Asian Credit Union Conference in Korea in 1971 and led the founding of ACCU, and has since worked with credit unions across Asia through education and international cooperation projects.
