| Summary: | 碩士 === 國立中央大學 === 歷史研究所 === 99 === The modern financial system in Taiwan was introduced by the Taiwan Governor-General
Office during the period of Japanese Colonial Period. Due to the lack of funding, financing
for the general public and the small business suffered from usury. To establish a financing
system for the general public, the Taiwan Governor-General Office launched credit unions
with great contribution to the economic prosperity of Taiwan during the Japanese Colonial
Period. . After the war, the Government of Republic of China took over Taiwan regime and
restructured credit unions into credit cooperatives and credit departments of farmers
association, forming the fundamental financial system of Taiwan.
During the period of Japanese Colonial Period, the Panchiao Credit Union of Panchiao
Township was restructured into the Credit Department of Farmers Association in post-war,
from which the financing for small business and industries eventually disappeared. Panchiao
Township was the prospering satellite city in Taipei where those who in need of funding urged
the government to establish credit cooperatives for prosperity in the local economy.
In 1955, Executive Yuan agreed to set up one new credit cooperative for the seven new
county bureaus. With this opportunity, Chairman of Representative Council of Panchiao
Township, Zhon-Lon Chio, gathered people from various fields and established the “Panchiao
Credit Cooperative (PCC)”. PCC was founded on April 15th, 1957, and began its operations
on July 5 with Zhon-Lon Chio commissioned as the first chairman. Under his leadership,
PCC’s steady development was recognized by the competent authorities and PCC
consequently acquired Yonghe Credit Cooperative as Yonghe Branch, in addition to
expanding its business premise including Panchiao, Jhonghe, Yonghe, and Tucheng.
From the foundation to the restructuring as a commercial bank, PCC’s duration
underwent the growing economy of Taiwan. Due to its convenient location near Taipei City,
PCC is able to sustain long-term management and has eventually become a notable credit
cooperative in Taiwan. After the government promulgated the “Guidelines for Restructuring
Credit Cooperatives to Commercial Banks” in 1997, PCC became the restructuring object of
expectation by the local people.
In 1996, Kaohsiung Fifth Credit Cooperative was involved in a scandal case when PCC
applied for restructure in 1996, and the government suggested PCC to merge the cooperative
with PCC. PCC was hesitant about the merge and was only convinced when the competent
authorities assigned specialist to negotiate resolutions for the implementation of restructuring
and merger with PCC. PCC was renamed Bank of Panhsin (BOP) on September 30th, 1997. .
The paper discusses the duration of PCC with historical data emphasizing the information on PCC, supplemented by the local records of Panchiao, Zhonghe, Yonghe, and
Tucheng. Any insufficient data will be added with oral interviews from key figures in Panchio.
The paper further explores the casual relationship between the development of the
fundamental financial institutions of Taiwan, local community and economy to highlight the
time functions of Taiwan credit cooperatives.
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