ACTIVITIES & SERVICES

Organizing the monthly meeting of executive committee.
Departmental Representatives of all the Ministries.
Organizing General body meetings.
Publishing and circulation of general information among its members.
Preservation of following records:

Information relating to particulars of members.
Financial transactions of loan, deposits, withdrawals etc. between members and Society.
Keeping record of transactions (income/expenses) of Society.
Accounting activities.
Reconciling of transactions with Banks.
Legal activities, if any.
Preparation of Reports, Balance sheets etc. at the end of Financial Year.

Membership

Membership Fee : ₹ 4350/-
- Share Money : ₹ 4000/-
- CD : ₹ 200/-
- OD : ₹ 100/-
- Membership Charges: ₹ 50/- (Non-Refundable)
Monthly Contribution : ₹ 300/-
Required documents : Filled application form approved by Establishment of your office with two latest passport size photos of the applicant.

Emergency Loan

The society also grants emergency loan to its members.
The maximum amount of emergency loan is Rs.25,000/-.

Rate of interest

The rate of interest on C.D. and O.D. is 6% per annum.
The rate of interest on loan to members is 10% per annum.
Penal interest @ 2% P.M.is charged from defaulters.

During the financial year 2022-23, dividend @ 9% was given to the members on the share money deposited with the society.

Secured Loan

Maximum limit of loan (regular) for a member is Rs. 3.0 lakhs subject to the terms and conditions prescribed for the purpose.
For ordinary loan signatures of maximum four sureties are required on the application form.
Loan amount is required to be paid back to the Society by the member in maximum 40 monthly installments.
Retirement period of the applicant is taken into consideration while granting loan for security of loan.
The installment of repayment of amount of the loan is normally deducted from the salary of the member concerned.

Compulsory Deposit (CD)

The amount of Compulsory Deposit (CD) is Rs.200/- per month.
The amount of CD is returned on resignation from the society due to retirement, transfer, and demise of the member or otherwise.

Optional Deposit (OD)

The amount of Optional Deposit (OD) is Rs.100/- per month.
The amount of OD can be withdrawn by the member twice a year.

Other terms and conditions

Each member on admission shall purchase 160 shares of Rs.25/- each worth of Rs.4,000/-
Every member on admission shall pay Rs.50/- on account of admission fees, which shall not be refunded in any case.
It was resolved that Managing Committee may grant to eligible any member of the society a loan not exceeding Rs.3,00,000/- or 12 months pay of the borrower or 10 times the value of the paid up shares whichever is less and shall take 4 surety in each case.
In emergent cases, loan upto two months' pay or Rs. 25,000/- whichever is less may be granted by the President or the Secretary subject to confirmation in the next Committee meeting without security and irrespective of any loan already granted, provided it is covered by the value of shares or deposits. This loan must be repaid in 10 monthly installments.
Every member shall continue to make monthly compulsory Deposit with the Society @ Rs.200 per month, which shall not be, withdrawable till he ceases to be a member of the Society.
Every member shall make monthly optional saving deposit with the Society @Rs.100/- Per month and withdrawal from this deposit can be made for any of the reason specified in the bylaws.

ACHIEVEMENTS

Remarkable progress during the year 2022-23.
Society has achieved the turnover of more than Rs. 3.23 crores.
The limit of the loan regularly increased to Rs. 3.0 lakhs per member.
All the membership accounts are maintained digitally.
Revamped more user friendly website of the society has been launched.
No pendency of loan disbursement as on date.
No liability remains with the Society.