Key Strengths
Since the inception of the society runs on its own funds generated by the members in the form of savings, membership fee and profit generated through service charge on credit.
The society has evolved policies on financial and non-financial activities and on stringent manner they adhere the policy guidelines without fail. This is the main reason for success of the society. The following are the few important policy guidelines of the society
Every member should save Rs.100/- per month.
The member would be provided 9% interest on savings calculated on yearly basis.
The member should submit the loan application before a month to the board with valid purpose.
The member should be provided loan after 6 months with regular monthly savings.
The loan would be provided 3 times to the savings of the member.
The loan should be utilised on stated purpose and mostly for productivity purposes only.
The repayment should be done EMI basis on monthly intervals.
The old members would be provided loan on 12% interest basis and new member will get on 18% interest on diminishing balance.
Distribution of profits on several components like – general reserve, building fund, education fund, bonus etc.,
Maximum loan to member is Rs.1 Lakh/-
“Society thrives with 100% savings, timely repayments,
strict policy adherence, localized operations, and profits
sustaining growth, trust, and empowerment.”
The society is successfully running on its own with technical support of promoting organisation on regular basis.
The main reasons for the success of the society as follows:
100% savings by the members on monthly and regular basis.
100% recovery of loans on EMI basis.
The geographical area is limited to in and around of the society office with the radius of 15 KM’s.
The board/governance involvement in management is on regular day to day basis.
100% operational cost met by the society profits without any external support.
Demand based technical support from the promoting organisation.
Established systems and procedures.
Stringent adherence of policy guidelines right from member eligibility to repayment mechanisms.
Support the members on training, exposures and skill building training.