Established in June 2000, Qingdao Rural Credit Cooperatives Association is a cooperative financial institution with independent legal personality, which is approved by the head office of the People's Bank of China and performs the functions of management, guidance, coordination and service for rural credit cooperatives in this city. There are four rural credit cooperatives in Huafeng, Chengyang, Huangdao, Jimo, Jiaozhou, Jiaonan, Laixi and Pingdu, with institutions all over the city and 337 outlets under its jurisdiction.