Registration

CFCICI is a Multi-State Co-operative Society, Registered under Multi-State Cooperative Societies Act, 2002, Ministry of Cooperation, Government of India (Reg. No: MSCS/CR/338/2010) with branches in the State of Kerala and Karnataka.

Membership

The present authorized Share Capital of the Society is Rupees 50 Crores consisting of the following categories:

• 'A' Class shares of Rs. 100/- each to individual members.
• 'B' Class shares of Rs. 10000/- each to State Government, Central Government and Other statutory bodies, and any other co-operative institutions
• 'C' Class shares of Rs. 10000/- each to be issued to the Multi-State Co-operative Societies or any co-operative Societies

To take care of the ambitious growth plans of the society, an amendment to the bye-law of the Society for increasing the Authorised Capital to 100 Cores is awaiting the approval of the Central Registrar of Co-operative Societies.

Administration

The following Committees of the Board are formed:

Management Committee

The Management Committee is formed and is empowered with powers delegated by the Board, so as to avoid the delays in decisions

Audit Committee of the Board

Audit Committee of the Board is formed to approve policy and other decisions in the areas of Internal Inspections/Audit, Statutory Audit, Statutory and Regulatory compliance. All the policy documents that requires the approval of the Board has to be placed before the ACB for approval and then be placed in the Board.

Nomination Remuneration Committee of the Board

Remuneration Committee of the Board takes decisions in the area of Human Resources, remuneration of Senior executives hired from the market pool and also the remuneration and service conditions of employees and officers of the Society.

Risk Management Committee

Risk Management Committee of the Board is tasked with formulating, directing and implementing the risk mitigation/management measures. The Committee decides on all types of risks viz., Credit Risk, Operational Risks and also Market Risks. The Committee is tasked with setting up and implementing best peer level Industry risk practices by prescribing Prudential exposures for Individuals and groups, Risk score for Entry and Exit decisions, Risk score matrix for different business, whenever required.

MD & CEO

The Society has hired an Executive with vast exposure and experience in the Financial Service Industry like Commercial banking, Small Finance Banking, NBFC, Micro Finance etc., to head the society as MD & CEO. The Innovative strategy for increasing the membership base, marketing and selling the liability and asset products of the Society to members has started showing impressive increase in the business figures. The growth is aimed without any compromise in the asset quality as evidenced by the above Industry average recovery and lower NPA level of the Society.

Compliance

The Society has formed a Compliance department to ensure that the Society is in compliance with all Statutory, Regulatory directives and guidelines and also to formulate and implement structured Policy documents and Stand Operating Procedures in all functional areas of the society and products. The Society has hired an experienced Banker with long experience in the Compliance area to head the Compliance Department.

Core Banking Solution in Branches

The Society has net worked all its 8 branches with the Core Banking Solution procured from a provider of International repute, FIS. This has enabled the Society to offer Any branch banking and services through alternate channels and digital channels to the Customers. The Society has ambitious plans for offering better services to its members at affordable cost.

Financial Inclusion

The Society is also aiming at Nation building process, by enlisting members from the marginalised/downtrodden, to bring them to the national main stream.Readless