In Korea, the credit union movement started in May 1960 by an American nun, Sister Mary Gabriella (1900~1993), by launching the Holy Family Credit Union, comprised of 27 members, who were employees at Maryknoll Hospital and Catholic Relief Services in Busan. In June of the same year, Father Chang Dae-ik(1923~2008) established the Central Credit Union, comprised of Catholics in Seoul, thus setting the credit union movement earnestly in motion.

May 1960 "Holy Family Credit Union" was firstly established by Sr. Mary Gabriella
Jun. 1960

"Catholic central credit union" was established by Father Chang, Dae-ik

Apr. 1964

The Korea Credit Union League, a trade association was founded with 63 member credit unions

May 1965 Affiliated with the CUNA International, former WOCCU
Apr. 1971

ACCU was founded in Seoul by 9 Asian countries

Aug. 1972 The Korea Credit Union Act was promulgated
Mar. 1973

NACUFOK, former KCUL was organized according to the Act

May 1974 Affiliated with the IRU
Jun. 1981 NACUFOK Training Center was built
May ~
Jun. 1983

WOCCU Membership Council and World Credit Union Congress were held in Seoul, with more than 200 participants from 35 countries

Dec. 1988

Structure was changed into three-tier system from two-tier system ; Credit Union, Provincial League, and NACUFOK

Sept. 1991

Asian credit union conference for 20th ACCU anniversary

Oct. 1992 Affiliated with ICA
Aug. 1996 Reached KRW15trillion total assets
Dec. 1997

Structure was reshuffled into two tier system; Credit Union and NACUFOK

May 1998

Reached KRW20trillion total assets

Mar. 2000

The Intra-Network system in NACUFOK was established

Oct. 2000 On-line system connecting all CUs was opened
Sept. 2001 NACUFOK joined KFTCI (Korea Financial Telecommunications & Clearing Institute)
Nov. 2001 NACUFOK went into credit card partnership with the Industrial Bank of Korea, and initiated various types of credit card services
Jul. 2002 Launched on-line banking services
Sept. 2002 Commenced on-line insurance services
Oct. 2002 NACUFOK held ¡®solidarity rally¡¯ at the World Cup Stadium in Seoul
Jan. 2003 Initiated tele-banking services
Sept. 2003 Business alliance with Hyundai card
Nov. 2003 NACUFOK & WOCCU held the 2nd Asian Technical Congress
Nov. 2003 Sponsored MBC¡¯s Social Welfare Award in 2003
Jan. 2004 Launched the Credit Union Depositor Protection Fund(KRW 500 billion)
Sept. 2004 NACUFOK & ACCU held ACCU Forum and Annual General Meeting
Nov. 2004 Commenced telemarketing service to introduce mutual insurance products to members
Jan. 2005 Established to upgrade Credit Union Shopping mall
Mar. 2005 Announced the plan to establish a new financial information system for the next generation
Oct. 2005 Reached KRW1 trillion the asset of mutual insurance business
Nov. 2005 Created the New Credit Union Sign System
May 2006 Moved NACUFOK headquarters to Daejeon
Oct. 2006 Enactment of Code of Ethics
Oct. 2007 Started to manage the governmental policy fund
Mar. 2008 Moved the IT center to Daejeon
Aug. 2008 Started to issue cashier¡¯s check
Sept. 2008 Reached KRW 30 trillion total assets
Dec. 2008 Launched a new IT financial system
Dec. 2008 Extended tax exemption savings up to 30 million KRW
Jan. 2010 Reached KRW 40 trillion total assets
Jun. 2010 Issued credit union's own check card
Jul. 2010 "Sunshine Loan¡± was launched for low income earners
Sept. 2010 Vision Declaration ceremony commemorating the 50th anniversary and ACCU Forum & Annual General Meeting held in Seoul
Feb. 2011 Mutual Insurance Asset reached KRW 2 trillion
Apr. 2011 Started bills¤ıchecks image information exchange
Apr. 2011 Started selling and receiving Onnuri Gift Certificates (used in traditional markets)
Jul. 2011 Launched Smart Phone Banking service
Jan. 2012 Total Asset size reached KRW 50 trillion
Apr. 2012 Began providing government policy fund for small traders and enterprisers
Sept. 2012 Launched the Credit Union Mutual Insurance Protection Fund
Nov. 2012 Corporate banking and open banking services
Dec. 2012 Mutual Insurance Asset reached KRW 3 trillion