National Agricultural Cooperative Federation Nonghyup Bank Unit Agricultural Cooperative Federation
Nonghyup, which operates not only banks but also Hanaro marts and gas stations, is divided into the National Agricultural Cooperative Federation and local agricultural cooperatives. Now, the name has changed and it is called NH Nonghyup Bank and Unit Nonghyup. It’s the same Nonghyup, but there are differences. I’ll explain how to differentiate the two places through a table.
Classification NH Nonghyup Bank Jayeok Nonghyup
(Old) Name National Agricultural Cooperative Federation Unit Agricultural Cooperative Federation
Financial sector 1st financial sector 2nd financial sector
Classification Bank Cooperative
Protection Act Depositor Protection Act Mutual Finance Depositor Protection Act
Concentrate on business credit business Business parallel economic business business (Hanaro Mart, gas station, etc.) 농협중앙회 지점
Classification Method Nonghyup Bank OO Branch OO Nonghyup XX Branch 좋은뉴스
Representative number 1661-3000 1661-2100
(Old) account number 000-01-000000
000-02-000000
000-12-000000 000-51-0000
000-52-0000
000-56-0000
(new) account number 301-0000
302-0000
312-0000 351-0000
352-0000
356-0000
Signboard NH Nonghyup Bank OO Nonghyup
It is quite complicated to talk about the history of Nonghyup, but I think we need to explain a little bit first to talk about the banks we use. Nonghyup, which was operated mainly in agriculture, and Agricultural Bank, which was separate, were integrated and grew into a huge group. Many banks can be found in urban areas such as the Seoul metropolitan area, but in rural areas, Nonghyup has taken on that role.
The total number of branches nationwide is about 5,000 to 6,000, which is the overwhelming number one. For reference, Kookmin Bank has the largest number of branches, with about 1,100. Nonghyup can be seen everywhere, so it is quite familiar. Here, it is divided into the central assembly and the region.
In 2000, it was integrated with the livestock industry and ginseng cooperatives and became a larger group. If you look into the details, it’s quite complicated, but in 2021, Nonghyup separated credit and economic parts to make subsidiaries such as nonghyup financial holdings and nonghyup economic holdings, etc. HN Nonghyup Bank, investment securities, etc. It will be established.
The two agricultural cooperatives, which had been conducting banking and other business as the National Agricultural Cooperative Federation and regional agricultural cooperatives, are currently continuing their business as NH Bank and unit agricultural cooperatives, which have partially separated their businesses. The two places seem to use the same name, but they are completely different places. As the corporations are separated from each other, transaction performance is not shared, and the types of products such as deposits, installment savings, and loans, handling standards, and business regulations are different.
There are many differences, as you can see in the table. First of all, there is a difference between 1st and 2nd finance, so if you need money, the place you should visit will be different. A way to distinguish them externally is a sign. You can check it by searching, maps, roadmaps, etc. even before you visit.
If it says NH Nonghyup Bank OO branch, it is a central bank, and if it says OO Nonghyup XX branch, it is a regional or unit Nonghyup. You can’t say which is better or worse, and you can look at each product and choose the right place for you.