National Credit Union Federation of Korea (NACUFOK)

The National Credit Union Federation of Korea (NACUFOK) is the national apex industry organisation, financial intermediary and operating body for all of Korea's credit unions, and a non-profit institution. Its predecessor, the Korean Federation of Credit Unions, was initiated by Father Jang Dae-heung in 1964 with 63 founding member credit unions, and was reorganised under its current name in March 1973. The federation represents member credit unions before government, regulators and the international credit union community, and provides supervision, management consulting, training and public relations services. According to its website, the system's total assets exceeded KRW 60 trillion as of 2014. NACUFOK ranks in the World Cooperative Monitor's Global 300 by turnover.