Iwaki Credit Cooperative (いわき信用組合)

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This entry sits under cooperative-banks INDEX as a Tohoku regional shinkumi (地域信組) anchor within the 143-cooperative population catalogued in Japan credit cooperative registry. Read it against Osaka Shogin Credit Cooperative for the ethnic-business shinkumi contrast and National Federation of Credit Cooperatives (Zenshinkumiren) for the cooperative-system parent.

TL;DR

Iwaki Credit Cooperative is a regional credit cooperative headquartered in Hanabatake-cho, Onahama, Iwaki City, Fukushima Prefecture. FSA registry No. 20 (under the jurisdiction of the Tohoku Local Finance Bureau), corporate number 5380005005753. With small and medium-sized enterprises and residents of the Hamadori area of Fukushima Prefecture (the Soso / Iwaki districts) as its member base, it is one of the representative institutions of the Tohoku shinkumi block that continued operating in the disaster-stricken area of the Great East Japan Earthquake (2011) + the Fukushima Daiichi nuclear accident. A National Federation of Credit Cooperatives (Zenshinkumiren) member, covered by Deposit Insurance Corporation of Japan (DIC). Operating as a regional shinkumi with dual regional + sectoral membership eligibility, its core business is reconstruction financing for the disaster area, fisheries (Onahama Port)-related finance, and Hamadori SME lending. ^•

1. Corporate overview

Membership eligibility ^•

As a regional shinkumi, membership eligibility has the following three-tier structure (governed by the Act on Cooperatives of Small and Medium-Sized Enterprises, etc.):

1. District requirement: Individuals and corporations residing, working, or having a place of business in the district defined by Iwaki Credit Cooperative’s articles of association (mainly the Hamadori area of Fukushima Prefecture)
2. Scale requirement: Small and medium-sized enterprises — 300 or fewer employees, or capital of 3 億円 or less (varies by industry)
3. Sector: No sector designation (cross-industry, owing to its regional type)

Fukushima Prefecture shinkumi block (registry comparison)

In Fukushima Prefecture there are 4 credit cooperatives on the FSA registry (registry No. 19-22):

Positioning within Zenshinkumiren

• A Tohoku-block member institution of National Federation of Credit Cooperatives (Zenshinkumiren)
• One wing of the 15 Tohoku shinkumi (Aomori 1 + Iwate 2 + Miyagi 3 + Akita 1 + Yamagata 4 + Fukushima 4)
• System ATM linkage and surplus-fund management go through Zenshinkumiren
• Of the bipolar structure of metropolitan shinkumi vs. regional shinkumi across the shinkumi industry as a whole, it belongs to the regional shinkumi group

Business characteristics of a regional shinkumi

• Onahama Port-related — lending to fisheries, seafood-processing, and port-logistics businesses
• Businesses related to the former Joban coalfield — responding to the regional economy in an energy-transition period
• Tourism (Iwaki Yumoto Onsen, etc.) — tourism-related lending in the phase of overcoming reputational damage
• Housing loans — funds for reconstruction public housing and self-rebuilt housing

4. KPI (confirmed figures)

Note: The above are confirmed figures based on the Iwaki Credit Cooperative official “cooperative overview” (as of 2024 年 3 月 31 日). For the latest half-year/full-year figures, see the Iwaki Shinkumi disclosure magazine + Japan credit cooperative registry.

5. Supervision / regulation

• Supervisor: Financial Services Agency / Tohoku Local Finance Bureau
• Legal basis: Japan Financial Regulation — Legal Framework for Tokens, Crypto Assets, and Payments + the Act on Financial Businesses by Cooperatives (Cooperative Finance Act)
• Deposit insurance: Deposit Insurance Corporation of Japan (DIC) general-financial-institution category (shinkumi are also covered; limit of 1,000 万円 + interest)
• Recent policy issues:
  • Rebuilding regional financial demand after the completion of the disaster-area reconstruction phase
  • Risk of shrinking member base accompanying depopulation / population decline
  • The cost of responding to strengthened AML/CFT

Related

• zenshin-kumi — National Federation of Credit Cooperatives (the central institution of the shinkumi industry, the upper-tier system of this shinkumi)
• osaka-shogin-shinkumi — Osaka Shogin Credit Cooperative (peer shinkumi, sectoral / ethnic-system contrast)
• sapporo-chuo-shinkumi — Sapporo Chuo Credit Cooperative (peer regional shinkumi)
• toho-bank — Toho Bank (a Fukushima regional bank, an in-area competitor)
• dic — Deposit Insurance Corporation of Japan
• shoko-chukin — Shoko Chukin Bank (government-affiliated SME finance, disaster-area cooperation)
• credit-cooperative-registry-japan — Japan credit cooperative registry (all 143 shinkumi)
• cooperative-banking-japan — cooperative finance as a whole
• cooperative-banks INDEX

Sources

• Iwaki Credit Cooperative official “cooperative overview” (as of 2024-03-31): https://www.iwaki-shinkumi.shinkumi.net/about-profile.html — deposits 2,041 億円 / loans 1,215 億円 / capital contributions 158 億円 / members 41,810 名 / branches 15 / officers and staff 185 名 / equity capital 229 億円
• Iwaki Credit Cooperative official disclosure-magazine list: https://www.iwaki-shinkumi.com/about-disk.html
• Financial Services Agency list of credit cooperative licenses: https://www.fsa.go.jp/menkyo/menkyoj/shinkumi.xlsx (corporate number 5380005005753, registry No. 20)
• National Association of Credit Cooperatives: https://www.shinyokumiai.or.jp/
• Zenshinkumiren (National Federation of Credit Cooperatives) official: https://www.zenshinkumiren.jp/
• Deposit Insurance Corporation of Japan official: https://www.dic.go.jp/
• Act on Cooperatives of Small and Medium-Sized Enterprises, etc.
• Act on Financial Businesses by Cooperatives (Cooperative Finance Act)

[!info] Verification status confidence: likely. The corporate number, registry No., and head-office location derived from the FSA registry are ^• (public information). KPIs such as deposits, loans, capital contributions, and number of members are confirmed by the Iwaki Shinkumi official cooperative overview (2024-03-31) (replacing the previous approximate estimates with actual figures). For the latest, see the Iwaki Shinkumi disclosure magazine + Zenshinkumiren publications. Added as a representative anchor for Tohoku regional shinkumi in the Wave 13 expansion of the 143-shinkumi chain.