credit co operative

co operative

1. CREDIT CO-OPERATIVE SECTOR Presented By : Hanisha A. Akoliya (01) :Bavishi Nirali P. (03) 3/11/2017 1

2. DEFINITION FINANCE a financial organization owned and controlled by its members , who can borrow at low interest rates from an amount of money they have saved as a group : Credit co-operatives provide financial services to poor and low-income people in many countries. 3/11/2017 2

3. M eaning of credit cooperative   A credit union is a member-owned financial cooperative , democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members . 3/11/2017 3

4. History of Credit co-op society in India The Rochdale Pioneers Co-operatives started out as small grass roots organizations in Western Europe, North America and Japan in the middle of the last century, however, the it is the Rochdale Pioneers that is regarded as the prototype of the modern co-operative society and the founders of the Co-operative Movement. 3/11/2017 4

5. History of Credit co-op society in India In 1844 a group of 28 artisans working in the cotton mills in the town of Rochdale , in the north of England established the first modern co-operative business, the Rochdale Equitable Pioneers Society (photo). The weavers faced miserable working conditions and low wages, and they could not afford the high prices of food and household goods. 3/11/2017 5

6. Credit Co-Op. Societies in India In India credit co-op. sector developed to help the peoples of low income group whom banks generally do not gives loans because of risk, they are taking loans from the financiers at high interest rates. So society is the better option to help them. Society generally gives a wide range of banking and financial services 3/11/2017 6

7. Con…. like Loans, F.D., R.D., Saving, Insurance etc.. Generally Co-operative Credit Society is formed by members, who are at the same time the owners and the customers of their Society 3/11/2017 7

8. Objective and Working of Society Vision of Society Vision of Society is social and economic betterment of its members. As well as secure interests and objects of the society and member both . It is also Seen as Mediator between two persons, One person having excess money keep deposit in society as F.D., R.D. etc. and other one is the person who need money for some thing as a loan. 3/11/2017 8

9. Objective and Working of Society Development of Society In India Co-op. sector is developed In Western India. Gujarat & Maharashtra are the states where co-op. movement is very good following the real aim of co-operation to the members. In other state development is slow. 3/11/2017 9

10. Objective and Working of Society Ownership of Credit Society Cooperatives are owned and democratically controlled by their members, Co-op members elect their board of directors from within the membership. Social Impact of Credit Co-Op. Society Are motivated not by profit, but by service-to meet their member's needs or affordable and high quality goods or services. 3/11/2017 10

11. FIXED DEPOSIT SCHEMES Available for varying range of tenures PERIOD OF DEPOSIT RATE OF INTEREST SPECIAL RATE 12 months (1 year) 11.00% 12.00% 24 months (2 years) 11.50% 12.50% 36 months (3 years) 12.00% 13.00% 48 months (4 years) 12.00% 13.00% 60 months (5 years) 12.50% 13.50% 3/11/2017 11

12. List of big Multi state co-operative Society in India Adarsh Credit Society Kheteshwer Credit co-op. Society Lokhit bharti Credit Co-op. society Arogya Dhan varsha Credit Society Navjivan co-op soc. Sanjivani Credit Society Arth Multi state credit society Prithvi Credit co-operative Society Peers co-operative Society 3/11/2017 12

13. Credit Co-operative Society Software Saving Account Current Account Fixed Deposit Account Daily Deposit Cheque Book System Loan Operation Systems Dividend Declaration 3/11/2017 13

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15. CONCLUSION 3/11/2017 15

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