ACCU - SBAJ Organized the First Virtual Study Visit to Japan Cooperative
- Date : Wednesday December 02, 2020
- Venue :
ACCU and Shinkumi (Cooperative) Banks Association of Japan (SBAJ) co-organized the Virtual Study Visit to Japan’s Credit Unions System on December 1-2, 2020. Twenty three (23) directors, CEOs, and managers from 10 countries from Bangladesh, Hong Kong, India, Indonesia, Korea, Malaysia, Nepal, Sri Lanka, Taiwan, and Thailand attended the virtual study visit.
On the first day, SBAJ President Dr. Junichi Naito delivered a welcome message and presented the Economic Measures by the Japanese Government and Response by Shinkumi Banks on the Impacts of COVID 19. SBAJ Advisor Ogawa Mototoshi discussed the Japanese credit cooperative system - history, membership, and achievements. Attendees also shared the economic impacts and responses of government and credit union networks on COVID 19.
On the second day, the participants virtually visited Dai-Tokyo Shinkumi Bank and Daiichi Kangyo Credit Cooperative (DKC). "Please extend our sincere appreciation to DKC for hiring our fellow countrymen as a staff and providing access to financial services to thriving Nepali immigrants in Japan," said NEFSCUN's CEO Prakash Pokharel. DKC has embraced other races in the fold of its membership. Both credit coops have shown their professional approach in making sure they address the needs of the members.
Following the visits, Mr. Yonetani, the head of the Shinkumi Information Service presented the Payment System of the Shinkumi Banks. The Information Service is a subsidiary owned by the Shinkumi Federation of Banks and the Shimkumi Banks.
SBAJ is a network of 145 Shinkumi (cooperative) Banks with 1,614 branches and 3.97 million members all over Japan. It has more than 21.17 trillion JPY (201.64 billion USD) in combined deposits and 11.85 trillion JPY (112.90 billion USD) in combined loans. The average asset size of a Shinkumi Bank is 142 billion JPY (1.35 million USD). SBAJ joined the ACCU family as a regular member in 2019.