Despite its looks, this is no ordinary bank in an ordinary neighborhood. A local fixture since 1975, this branch of Saemaul Geumgo has led the development of Oryu-dong for the past four decades. The list of its achievements is as long as its history; for instance, it established a local center for senior citizens and has supported major businesses and welfare projects.
Saemaul Geumgo in Oryu-dong
“At Saemaul Geumgo, all members are equal. Whether you invest 1,000 won or 1 billion won in an account, you each get one equal vote. In a bank, the more shares you hold, the more votes you get. In that sense, Saemaul Geumgo is the most democratic and equal organization. Its 14,000 members elect representatives through whom all issues are voted on.”
“The Maeul Geumgo is actually a money-lending business using our money!” “The Maeul Geumgo is used to fund the Chairman’s personal business!”
1억 원 돌파기념 2억 원 목표달성 촉진대회(새마을화보)
Saemaul leaders, public officials and entrepreneurs from all over the country came to Oryu-dong to learn about its City Saemaul Undong.