Page 45 - 2023 OUTLINE OF THE MINISTRY OF THE INTERIOR REPUBLIC OF CHINA

2023 OUTLINE OF THE MINISTRY OF THE INTERIOR

formed by a group of individuals and nonprofit entities with a common relationship, based on the
principles of self-help and mutual assistance. The purposes of credit unions are to encourage their
members to save money, to give loans to needful members at reasonable interest rates and with sim-
plified procedures, to solve members’ needs in their lives or production methods. Additionally, credit

unions encourage their members, through continuous education and publicity, to be diligent, thrifty,
and wise in utilizing loans and savings to enhance their social status and economic situation, as well
as significantly mitigating the hazards caused by illegal money lenders and loan sharks. The focuses
of their work include the following:

(1) Policy planning and legal operations: The planning of relevant policies for credit unions has been
performed, as well as the research (revision), approval, and document filing pursuant to relevant
provisions of the Credit Union Act.

(2) Provide counseling and undertake management matters related to the Credit Union League of
the Republic of China (hereinafter referred to as “the League”), including granting subsidies,
supporting credit unions’ management education and training, and organizing activities of Inter-

national Credit Union Day. Furthermore, accountants will be engaged to conduct on-site auditing
of the operations, management, and financial operation status of associations and credit unions,
and track their improvement after counseling. In 2022, a total of 45 credit unions (including the

League) were audited by the accountants engaged.

Credit Unions Visitation and Seminar to Promote Mutual Assistance Saving Habit

43