Saemaul Credit Union Surpasses 22,000 Subscribers for 'Walking Savings Deposit' Offering Up to 12% Annual Interest

12% Annual Interest for Babies Born in Population-Declining Areas
Launching Products to Address Low Birth Rates Since 2023

The National Credit Union Federation of Korea announced on September 3 that the number of subscribers to the “MG Hope Walking Savings Deposit,” launched in April, has surpassed 22,000.

The Walking Savings Deposit is a one-year, fixed-term savings product offering up to 12% annual interest for babies born in 2026. Monthly deposits are capped at 300,000 won. The annual interest rates are 10% for firstborns, 11% for second children, and 12% for third or subsequent children. Babies born in population-declining areas receive the 12% annual rate regardless of birth order.

Since 2023, the National Credit Union Federation of Korea has been releasing social contribution financial products each year to help address low birth rates. In 2023, the “Kkangchong Savings Deposit” attracted 35,039 subscribers; in 2024, the “Yongyong Savings Deposit” gained 49,563 subscribers; and last year, the “Baby Snake Savings Deposit” saw 49,803 subscribers sign up.

A representative from the National Credit Union Federation of Korea stated, "We introduce products every year to provide tangible financial benefits to families with newborns and to contribute to overcoming the low birth rate," adding, "We will continue to expand various support initiatives and social contribution activities in cooperation with local communities moving forward."

This content was produced with the assistance of AI translation services.