Best Practices
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Co-operative Society
Title of the Practice
Wholly self-funded thrift credit Co-Operative Society.
Objectives
- Staff welfare by means of Co-operative credit.
- To moot savings among employees.
The Context
Co-Operative thrift society moots savings of surplus funds of employees. Employees is need of credit are provided credit at low interest rates so that they are not burdened by higher rates in banking credit companies.
The Practice
"Madura College employees Co-Op thrift and credit Society" was founded in 18-08-1975 and is a wholly self-funded.
Evidence of Success:
- Amount of Outstanding due: Rs.3,31,13,851
- No of beneficiaries: 96 (loan) and 190 (thrift)
