The board of directors of a credit cooperative will decide and prepare the electoral work and schedule three months before the current term of the elected/appointed officers expires.

For the election of membership representatives, the board of directors will appoint several members from each electoral district to serve as electoral personnel (for handing out, calling and tallying ballots) and monitors; for the election of directors and supervisors, members (or membership representatives) who attend the general meeting of members (or membership representatives) will recommend by general acclaim several persons among themselves to serve as the electoral personnel and monitors to handle the voting and electoral affairs; for the election of chairman of directors and chairman of supervisors, the Department of Finance of the municipal government or the county (city) government will dispatch staff to serve as monitors.
The candidates in each of the elections may not serve as electoral personnel or monitor.

For the election of membership representatives, a credit cooperative shall, forty-five (45) days before the scheduled election, finalize the membership registry and produce an electoral roll that contains the names of members who have at least one year of membership up to the date before the credit cooperative announces the mattes of candidate registration and voting right in accordance with the articles of incorporation, and post such roll at the entrance of each business unit for public display for ten (10) days. Where there is error in the electoral roll, members should ask the credit cooperative to make correction during the display period.
Members are still allowed to apply for change of membership address after the end of roll publication in the preceding paragraph, but will exercise their right to elect and right to be elected according to the original districts delimited by the cooperative.
Members who are admitted by proof of occupation and move into a business district after the end of electoral roll publication may not exercise right to elect and right to be elected for the current term.

The exercise of right to elect and right to be elected by members of a credit cooperative shall be conducted based on the membership registration address, which shall be identical to the household registration address or office address of the member.

A credit cooperative may conduct the election of membership representatives by district for the sake of geographic convenience. The number of membership representative in each district shall be decided according to the number of members with voting right in the district on the same proportional basis.

The election of membership representatives, directors and supervisors shall be conducted by registration of candidacy. The credit cooperative shall, in one month before the scheduled election, post the information on the total number of eligible voters, number of persons to be elected, qualifications of candidates, and starting and end dates for registration of candidacy at the entrance of each business unit for at least seven (7) days, and during the publication period, post the same information on a local newspaper for at least three (3) days.
If, at the end of candidate registration or at the end of qualification review, the number of candidates is less than half of the number of persons to be elected, or the number of director or supervisor candidates is less than three, the credit cooperative shall undertake the candidate registration process again according to the provisions in the preceding paragraph, and previously registered candidates shall re-register.
The qualifications and calculation of years of membership for candidates who register for candidacy according to the provisions in the preceding paragraph shall be the same as those for previously registered candidates.
A member may not register as a director candidate and a supervisor candidate at the same time.

For the review of candidate qualifications, the board of directors and the board of supervisors shall respectively recommend at least five directors and supervisors to form a qualification review committee. The qualification review committee will, without making distinction to candidates with professional or general qualifications, review the qualifications of the candidates by the order of registration, and determine whether the candidates possess professional qualifications. The review committee will be dissolved automatically after the end of the election.
Where a member of the qualification review committee is also a candidate, or the spouse or a relative within second degree of kinship of a candidate, or an interested person to a candidate, the member shall excuse himself/herself from the review of the candidate's qualifications.
The credit cooperative will notify each candidate of the review results. Candidates who did not pass the review should be allowed to apply for a second review within a prescribed period of time.

The order of qualified candidates on the ballot will be decided by lot drawing by the qualification review committee before announcing the list of candidates.

Candidates who desire to withdraw their candidacy shall do so by serving the credit cooperative a written request before lot drawing for the order of candidates on ballot, or else the withdrawal request will not be accepted. A candidate who has withdrawn from the election may not re-register his/her candidacy.

A credit cooperative shall notify the Department of Finance of municipal government or the county (city) government seven (7) days before an election, and ask the municipal or county (city) government to dispatch supervising personnel for the elections of directors, supervisors, chairman of directors and chairman of supervisors.
For the election of membership representatives, directors, or supervisors, a credit cooperative shall, seven (7) days before the scheduled election, notify each voter of the time and place of election, number of persons to be elected, and list of candidates. For the election of membership representatives, a notice shall be posted at the entrance of each business unit for at least seven (7) days.

A credit cooperative shall produce all election ballots and affix its seal on the ballots.The ballots for the election of directors, supervisors, chairman of directors and chairman of supervisors shall also be signed by the supervisory personnel from the Department of Finance of municipal government or the county (city) government.