At 2 p.m. on the 29th of last month, the fifth-floor conference hall at the headquarters of Nam Daegu MG Community Credit Cooperative in Daemyeong-dong, Nam-gu, Daegu, filled with elderly visitors well before the start of a "Filial Love Festival" held to mark Family Month. About 300 members aged 70 and over from senior centers in the area, including Ilsim Senior Center, Daemyeong 4-dong Senior Center, Samjeong Bichui Senior Center and Seongdang Eden Town Senior Center, attended, quickly filling every seat.
It was the first time Nam Daegu MG had held a filial piety event for senior citizens. Cultural center members performed dance sports, traditional Korean dance and line dance, while the cooperative's culture and arts troupe took the stage with folk songs, popular music and instrumental performances. Each act drew applause and laughter from the audience. For one day, a financial institution that handles deposits and loans became the stage for a neighborhood festival.
The arts troupe that performed at the event is a flagship example of Nam Daegu MG's community contribution activities. Launched in May 2023, the troupe recruits members from across Daegu on a talent-donation basis, and its 19 current members travel throughout the country performing songs and instrumental pieces. "We have created and run an arts troupe rarely seen at other financial institutions in order to comfort those weary from daily life and contribute to the local community," said Park Pan-nyeon, chairwoman of Nam Daegu MG. "Through cultural sharing, we are broadening points of contact with local residents while also spreading the spirit of mutual prosperity that defines MG Community Credit Cooperative."
Nam Daegu MG has steadily carried out community-rooted social contribution activities. It supplied promotional goods to help revitalize Seongdang Market and donated a van to Daemyeong Social Welfare Center in cooperation with the MG Hope Sharing Foundation. During the spread of COVID-19, Chairwoman Park personally carried disinfection equipment as she walked through markets and neighborhoods, conducting quarantine activities herself.
Member-life support is another distinguishing activity of Nam Daegu MG. The cooperative has signed business agreements with general hospitals, specialty hospitals and oriental medicine clinics so that members can receive discounts on medical fees. It also offers legal consultations through an advisory attorney. The aim is to go beyond financial services and serve as a life-oriented window that eases the inconveniences members face in daily life.
Such community-rooted moves have translated into growth for Nam Daegu MG. Founded in May 1979, Nam Daegu MG saw its assets grow by 100 billion won within three years of Chairwoman Park's inauguration in 2016, and as of the end of last year had grown into a large cooperative with 313 billion won in assets and 14,500 members. After winning the top award in the asset-growth category at the 2024 MG Community Credit Cooperative Annual Awards, it also received the excellence award in the management category and the social contribution grand prize for 2026.
"The most important management philosophy is being together with the local community," Chairwoman Park said. "Since finance is about trust and kindness, I want to find the roles needed beside our residents and build the cooperative into a life platform where everyone joins together."
