Credit Union League of Thailand

The Credit Union League of Thailand Limited (CULT) was established in 1965 in Bangkok's shantytown district, with the financial support of Father Alfred Bonninque and two Thais. The movement gradually spread throughout the country and is now established in 48 provinces (471 local unions with some 94,581 members as of the end of 1992). In 1970, the savings stood at 1.4 million baht, and had risen to 428 million baht by 1922. The reserve stand at 41 million, and 528 million has been granted as credit.

The CULT experience is of particular interest due to the diversity of its loans:

The revencue received by CULT does not yet enable it to self-finance its activities, so it still gets funds frrom the international aid system, particularly for training activities (12.8%).

The following pie chart shows the organizations's funding sources. As illustrated, CULT iiis 87.2% self-sufficient, since donations represent only about 12.8% i.e. 1,501,733.50 Baht.

1991 Statistics for Credit Unions in Thailand:

Credit Union Cooperatives: 816
Members: 1,459,879
Savings; 19,323,929 (USD)
Loans: 37,621,218 (USD)
Reserves: 1,771,117 (USD)
Assets: 59,241,631 (USD)

Women in Credit Unions (Thailand/CULT):
Women members: 37,801
Total members: 78,753
Percentage: 48.0 percent

The above figures are from WCCU

Credit Union League of Thailand (CULT)
56/2 Moo 3, Ramkhamhaeng Road,
Buengkum, Bangkok - 10240, Thailand
Tel: +(66-2) 373-0020, Fax: +(66-2) 373-0022

Hari Srinivas -
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