Hainan Rural Credit Cooperatives Association is the only local financial institution with independent corporate status and led by the provincial government, which is approved by Hainan Provincial Government and China Banking Regulatory Commission and initiated by Haikou, Sanya and other 19 cities (counties) rural credit cooperatives.
Extended data:
Business scope: The financial products mainly promoted by the Provincial Association include offshore debit card, mortgage (pledge) loan, personal "one-on-one" loan, personal salary guarantee loan, housing loan for farmers' employees, farmers' joint guarantee loan, Qiongzhong microfinance project and Grameen microfinance project.
Development: Provincial Association was established on August 6, 2007. Authorized by the provincial government, the provincial association undertakes the management, guidance, coordination and service functions of rural credit cooperatives within its jurisdiction. Hainan Rural Credit Cooperatives Association and its 225 corporate credit cooperatives have 387 outlets and 3,085 employees.
By the end of 2008, the balance of deposits was 654.38+05.862 billion yuan and the balance of loans was 9.052 billion yuan. It is distributed in 2 13 townships in Haikou, Sanya and other 8 cities and counties. Network institutions account for 30% of the total number of bank outlets in the province, which is the largest financial institution in the province.
Official Website of Hainan Rural Credit Cooperative Association-Home Page