The National Credit Union Federation of Korea (Saemaul Geumgo Central Association) announced on the 10th the launch of "MG Hope Sharing Baby Steps Savings," a financial product aimed at addressing the low birth rate crisis.
The Baby Steps Savings is the fourth installment in the low birth rate series, following "Hopping Savings" in 2023, "Dragon Savings" in 2024, and "Baby Snake Savings" in 2025.
The product is a one-year term savings account limited to 50,000 accounts. The monthly deposit limit is 300,000 won, with a base interest rate of 4% per annum plus preferential rates up to 12% depending on the number of children. Notably, newborns in designated depopulation areas qualify for a 12% annual rate (4% base + 8% preferential) regardless of the number of children.
To commemorate the product launch, Saemaul Geumgo Central Association held its first enrollment event on the 8th at Nangok Saemaul Geumgo headquarters in Sillim-dong, Gwanak-gu, Seoul. Children of credit union members who operate local children's centers serving underprivileged students in the area attended the event, receiving preferential rate benefits along with separate birth celebration gifts.
"We have been striving to provide practical benefits by launching zodiac-themed products annually for the past four years to help address the low birth rate problem," said Cho Bong-eop, Executive Director of Saemaul Geumgo Central Association. "As a financial institution that coexists with local communities, Saemaul Geumgo will continue to fulfill its social responsibilities, including supporting vulnerable groups and revitalizing local economies, beyond just addressing the low birth rate issue."
Meanwhile, Saemaul Geumgo continues to expand its shared growth management by developing various social contribution models, including special guarantee products for low-credit individuals to coexist with local communities.
