Zinan Temple fulfills secular wishes in Taiwan

2016/02/17

Temples play a key role in the daily lives of many Taiwan people, offering spiritual guidance and serving as venues for important rituals.

One such facility in central Taiwan has taken this a step further by providing public microloans with zero collateral. Zinan Temple in Nantou County is issuing NT$600 (US$18.18) in “Land Lord’s Cash” to those in need with a valid ID.

Chuang Chiu-an, head of the temple’s administration office, said the practice dates back to the decades before Taiwan’s economy took off.

“During this tough time, such financial assistance really made a difference to the people in the rural community,” he said. “While the debt was not legally binding, the great majority of borrowers paid back the money as promised.”

According to Chuang, as Taiwan’s economy improved, the money lost its importance but retained its appeal. “The number of recipients grows by around 3 percent every year,” he said, adding that during the Lunar New Year vacation, around 14,000 people came to Zinan for the loan each day.

Around 650,000 individuals borrowed more than NT$400 million from the temple last year. Repayments topped NT$600 million, with the largest single sum NT$2.9 million.

“Other than helping people in their time of need, the practice is also a steady source of funding to support many charity works at the local community,” Chuang said.

Another local practice gaining recognition is the handing out of a specially minted coin placed in a lucky red envelope at the beginning of the year. “Mother Money,” as its name suggests, is expected to give birth to more of its kind and bring good fortune to its holder.

Chuang said the temple doled out more than 150,000 such coins this year.

“The line of people queuing up outside temple extended for eight kilometers Feb. 11, which was the fourth day of the first lunar month and the eve of the birthday of the God of Wealth in Chinese tradition.”

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=242244&ctNode=2194&mp=9)