“Nomin Foundation” SCC was formed on 28 July 2000 with 9 members and 900 thousand tugricks of equity shares. Currently we have 19 employees, 1947 members and has been in operation for 15 years.
With the formation of the Financial Regulatory Commission, and with its first decision to remove word “foundation” from SCCs names we changed our name to “Nomin Union” on 31 July 2006. Through the course of our 12 years of operation we became the largest SCC in Mongolia, and set a standard for providing financial services to SCC members. In 2014, “Nomin Union” currently holds approximately 38.6% of the total asset of SCC market share and we are very proud of our success.
At the end of 2014, the value of our total asset reached 16.4 million USD. “Nomin Union” loan portfolio reached 12.8 million USD with an increase of 3.8 million USD as compared to the previous year.
As a result of our high quality and reliable member services, End of the 2014 our deposit reached 12.8 million USD. In report of Financial Regulatory Commission of the year 2014 Sep 30th Nomin union SCC captured 45 % in deposits of SCC market
The interest rate for savings and loans are determined based on the market interest rates of commercial banks. We are providing 6 loan products to our members with low rate and long team. It will be very helpfull for our members. Our philosophy is to have a higher interest yield on deposits and average MIR on loans we provide.
We would like to convey our heartfelt gratitude to our members for enabling us to achieve these remarkable results and we accept the challenge of both reaching for and attaining higher successes in the future.
|Bank of Mongolia||"Nomin Card" NBFI||Golomt Bank|