Do you know there is a primary student’s finance cooperative association on campus? Last year on October 6, a hand-written poster attracted many students’ attention. The tittle of the poster was ‘We made an appeal for poverty to senior and junior’. There are filled the voice of poor students and the voice of denunciation the society. The writers said the participation of the students who want to make fence that protect themselves are near home. The fence that they want to make is “KIDARI BANK (키다리은행)” that helps economically every Hanyang University’s (한양대학교) students.


– Students’ Safety Fence, KIDARI BANK

KIDARI BANK supports Hanyang University’s students’ opportunities of economic life and society safety net. It is the first student’s finance cooperative association that manage only students’ fund on campus.

KIDARI BANK is named after the novel Daddy Long Legs because they want to become the life net of students. First, 30 students that was gathered by the poster decided articles of association such as interest rate, credit line through 3 times discussion. And last year November 20, they hold an inaugural meeting to select the directors. Now there are 3 directors and 1 fund manager is existed and they have a council every Monday. Also, KIDARI BANK is managed by 72 students and 6,000,000 Won fund bank.


– Short Leg Fund

The major activity of KIDARI BANK is a small loan for living expenses program called “Short Leg Fund”. It is supporting program to started member of the association’s spontaneous investment. Like its name you can’t borrow a lot of money but you can borrow urgent living expenses. And its purpose is support students’ money matter and their economic independence. Member of an association who borrow money have to repay money (maximum 300,000) within six months. When loan requisition is applied, KIDARI BANK dispend loan after check the applicant’s repayment plan and repayment will through the screening.

Short Leg Fund is different with other loan service because students can pay autonomous interest on a loan. Also, if the students couldn’t repay, they could substitute as a talent donation such as educational service activities. (KIDARI BANK made an agreement this with Korean Credit Union) The interest by repayment helps KIARI’s management.


– Agreement with the Korean Credit Union

KIDARI BANK expanded their business as made an agreement with Korean Credit Union (신협) on April 12, last year. The students can get supporting finance infra such as exempting commission through agreement for strengthen mutual relationship and to develop the finance of student’s self-supply.

“KIDARI BANK is very meaningful because the member of the association share the profit their profit with other people such as financial and social weak person. I am very expected to KIDARI and I hope that they become a bank that can contribute to the local community.”


Once a Month, Education!

Also, KIDARI BANK’s the director of education makes progress education about mind of KIDARI and about cooperative association once a month. So when association’s member wants to borrow the money from KIDARI BANK, he has to participant at least once. If you want to join with KIDARI BANK, you can apply on Facebook or Kakaotalk yellow ID. And you pay membership fee 10,000 Wonand money invested over 10,000 Won. Then you can join with KIDARI BANK. Everyone who are Hanyang University students can join with it.


Article by YeongWoo from Korea, a Sophomore in Business Administration

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