Aadarsh Co-operative Credit Society Ltd.

Drop Down Menu

Welcome to ADARSH CO-OPERATIVE CREDIT SOCIETY LTD


Institution was established in the year 1975. After establishment, the members were granted loan upto Rs.3000/- till 1989-90.
In the year 1990-91, with inspiration and co-operation of Late Alhaj Gulamali Bhanjibhai, we took up the management of this Institution. Initially, granting loan of Rs.5000/- was commenced and simultaneously, granting loan for purchasing hand cart to the brethren engaged in vegetable business and performing labour work and for purchasing cycle to those engaged in service and hawking was commenced. 70 persons were granted loans for purchasing hand cart and cycle.
Thereafter, with the efforts of J. Haji Ranzanbhai Asariya, rickshaw loan relief fund of Rs.2,69,969/14 was accumulated with the co-operation of World Federation & NASIMCO, Canada and granting loan of Rs.10,000/- was commenced for purchase of rickshaw to those brethren driving rickshaw on hire, as a result of which the persons driving rickshaw on hire, became the owners of rickshaws and some of them became owners of 3 to 4 rickshaws by getting 3 to 4 loans and they generated additional income by giving rickshaw on hire. Therefore, they started maintaining their livelihood in very good manner.
The Society commenced to grant loan of Rs.5000/- to the members in the year 1990-91 for fulfillment of financial needs of their business and otherwise. At present unsecured loan upto Rs.75,000/- and secured loan upto Rs.1,50,000/- is extended and extra loan upto Rs.20,000/- is granted for purchase of household gadgets viz. Freeze, Washing Machine etc. The said loan is granted by recovering only nominal maintenance expense, out of which from the profit derived after deduction of salary to staff and other administrative expenses, gift items are distributed to each member every year. On demise of any member, death assistance of Rs.15,000/- is disbursed to the heir of deceased. The members are given the benefit of accident insurance policy etc.
During the year 2010-2011, 100 new members were admitted and at present there are 744 members of our Institution.