Fengcheng Shunyin Village Bank was established on 20 10. It is a commercial bank approved by China Banking and Insurance Regulatory Commission, and its deposits are guaranteed by the deposit insurance of the People's Bank of China. It is a local banking financial institution jointly funded by Guangdong Shunde Rural Commercial Bank, Foshan Shunde District Government State-owned Assets Supervision and Administration Commission and Fengcheng Municipal Government State-owned Assets Supervision and Administration Office. Therefore, Fengcheng Shunyin Village Bank is formal.
Financial institutions established by banks to operate monetary credit business according to law are the product of the development of commodity monetary economy to a certain stage.