Co operative Movement
In spite of numerous government and private banks across the country, certain weaker sections of the society have been neglected over the period of time due to which there has been immense rise in the co-operative sector. The principle of co operation is as old as human society and it forms the basis of domestic and social life. It is certainly a group instinct in man which enables him to live together, work together and help each other in times of stress and strain. The first Cooperative Credit Societies Act was enacted in 1904. Co-operative Societies focus more on under developed or least focused sections of the society in order to provide them with available services much similar to the rest of such societies. In short, the economically weaker sections of the society look up to co-operative societies for financial assistance or aid for their socio economic development. Such societies are different from those of commercial banks, though the services they provide remain more or less the same. One such co-operative society was started on the 21st of November 2013. Peoples Mutually Aided Co-operative Society limited was registered under the Andhra Pradesh mutually aided co-operative societies act 1995 U/S 9 (5th of the act). The People’s Mutually Aided Co-operative Society Ltd., or the PEOPLES CO-OPERATIVE SOCIETY (generally referred to as), began with an aim to provide all the necessary services for the common man without any hassle for their development. Capital City Vijayawada, Andhra Pradesh is a well-known city located on the river bank of Krishna for its known culture and heritage where one can experience the natural beauty of landscapes, river Krishna, architecture, art and culture. In such city, several enthusiastic and like-minded business tycoons & experienced Bankers associated and started a society, with an intention to promote social justice and welfare of the peoples in the lower strata of the society to their standard of living. The society and made enormous progress during the last 5 years of its inception. The society achieved the landmark of having 10,000 members in this time.
PEOPLES CO OPERATIVE SOCEITY Ltd, Registered with APMACCS statutes, rules and bye laws to protect the interest of members, and maintaining books and records, subject to the statutory audit by qualified C.A, functions under the regulatory supervision of registrar of Andhra Pradesh Mutually Aided Co operative Credit Society. We are specialized in providing banking and financial services to its members. The Society, incurring profits continually and issuing 11% of Dividend to its members from last five years. And 0.5% extra to the Senior Citizens at all levels.
Our Mission:Through the efficient management of the society, uplifting the financially weaker sections, Promoting small entrepreneurs by providing credit under various schemes to the lower strata of the society, contributing towards their socio-economic development.
Our Aim- The Peoples Mutually Aided Co operative Credit Society began with an aim to provide all the necessary financial services for the common man without any hassle.
Peoples Mutually Aided Co operative Credit Society Ltd, has a policy of helping petty businessman, vegetable vendors, taxi drivers, small shopkeepers, skilled craftsmen and other weaker sections of the society.
Diversity:- We provide best services based on the requirement of our members, Our range of services has helped us to satisfy all the needs and stood as second largest Society in the state in terms of membership.
OUR GREATEST ASSET: –– The patronage and trust of our members timely services, friendly staff, easy accessibility played a key role in shaping the success of our organization for over last five years.
OUR OBJECTIVES:-We strive to fulfill all the economic needs of the lower strata of the society of both rural and urban areas.
To provide quick and best service as per the needs of our members Making sure we solve financial problems of the needy as much as we can. Create awareness in the public about the co-operative Society and the advantages of accepting our membership.
Reg Office Sitarampuram Vijayawada:-The society registered office is centrally located in business area in the midst of schedule banks, at Seetarampuram Vijayawada. The Society is build up with modern infrastructure and fully computerized, providing Lockers facility, with security measures like cc cameras surveillance, 24 Hrs E-Zone, fire safety and communication mediums, to provide smooth and secured services.
Branch – Autonagar Vijayawada:- Identifying the potential in the Autonagar area the Society have commenced its second office at Auto Nagar, Vijayawada-7, designed as a corporate office with latest Technology, strong room with lockers for rent, and equipped with CC Camera’s duly
covering the entire office and provided safe and secured in financial transactions.