Social cooperatives can do micro-loan business for members. Unlike other projects carried out by social cooperatives, this micro-loan business is not available to non-members.
Business unavailable to non-members of social cooperatives.
- Small loans and mutual assistance projects of social cooperatives;
- Health and medical projects of social cooperatives that have opened medical institutions;
- Other projects prescribed by the Ordinance of the Ministry of Strategy and Finance in consideration of the nature, type, etc. of social cooperatives;
※ Social cooperatives that conduct health and medical services may provide health and medical services to non-members within 50/100 of the total supply.
In order for a social cooperative to conduct a micro-loan project for its members, it must set a micro-loan project in the articles of association.
폰테크 At this time, the limit of micro-loans shall be set in the articles of association in consideration of the number of members, the size of contributions, and the type of micro-loans, etc., and the total amount of micro-loans shall not exceed two-thirds of the total amount paid.
The interest rate on small loans is also set by the articles of association, and the maximum limit on small loans cannot exceed the highest rate (24% per annum) set by the Bank of Korea (2.81% as of February 2021).
Mutual aid projects of social cooperatives.
Mutual assistance project of a social cooperative means a project in which mutual assistance fees divided among members are paid as reserves, and a certain amount of mutual assistance is paid to members who have paid mutual assistance fees.
Mutual aid projects shall be carried out only for members, just like small loans, within the total amount of contributions paid.
Detailed matters for mutual assistance business, such as the reason for mutual assistance payment, payment limit, membership fee, etc., shall be prescribed by the articles of association.
Use type: Microorganisms, swagger
Disclosure of management of mutual assistance and micro-loan business;
Mutual assistance projects and micro-loan projects shall be separately accounted for separately from main and other projects.
In addition, reports on the current status of mutual assistance and micro-loan projects in the relevant fiscal year shall be prepared and disclosed when disclosing the results of the cooperative's management.
Note: Management disclosure of cooperatives and social cooperatives;
Management disclosure of co-operatives and social cooperatives;
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