As of last month, CUSC had deposits of 13.99 billion baht and profits of 366 million baht, almost half of this year's target set at 980 million baht. According to Asst Prof Chumpol, the 915 million baht was deposited in 2012 and a land plot covering 218 rai was used as a guarantee. The cooperative's remaining land had been appraised at 6.9 billion baht, but the department found it was worth only one billion baht. A series of fraud and embezzlement scandals involving cooperatives has put CUSC members' confidence to the test. The CUSC has 1.5 billion baht in deposits with the embezzlement-plagued Klongchan Credit Union Cooperative (KCUC).

Source: Bangkok Post May 22, 2017 21:45 UTC