What is a member loan application?
Members of Brown Social Cooperative deposit a set amount of loan funds with the cooperative and receive a loan certificateand in return
receive from the cooperative a certain level of principal and interestunder this program.
With these loan funds, the cooperative can operate its various public-interest projects on a stable basis.
Loan deposit requirements
- Brown Social Cooperative's Member
- Current amount available for deposit: Limit of 10 million KRW per member
- Current loan interest rate: 5.5% per year (approx. 3.99% after tax)
- Repayment terms: 1-year grace period, then equal repayment of principal and interest over 3 years
Loan application procedure
Join as a member → Pay membership shares (100 shares or more) → Apply for member loan → Sign loan agreement →
Deposit loan funds → Receive bond certificate → Receive monthly principal and interest
Loans are available to members only. If you are not yet a member, we will send you membership information after you apply.
