CFCICI Ltd is a Multi-State Co-Operative Credit Society Registered with the Central Registrar of Co-operatives (Ministry of Co-Operation, Govt. of India) New Delhi, under the Multi-State Co-Operative Societies Act 2002.
Cooperation is imbibed in the culture of the country. The Government of India has recognised the importance and contribution of co-operative movement in the development of Indian economy. So in 2021 a separate Ministry for Cooperation was created. With the mantra “Sahakar se Samriddhi” cooperative movement is expected to make life of villages prosperous and thereby contributing substantially to the aim of achieving USD five trillion economy.
Imbibing this spirit CFCICI works for the financial betterment of its members, guided by the seven Co-operative Principles. We accept deposits from members, extend loans and advances to members and promotes self-help groups, with a spirit of Co-operation, harmony and integrity among the members.
The Society is currently operational in the states of Kerala and Karnataka. CFCICI Ltd is strictly abides by the Multistate Co-Operative Societies Act 2002, rules and Bye-Laws. The Society is committed to encourage thrift and savings amongst its members by offering suitable products and facilities. The deposit schemes are designed to deliver maximum value to members by giving competitive rate of interest. The society primarily accepts deposits for the purpose of lending to its own members for agriculture/allied activities and for other productive purposes in marginal, small and medium segments and for investment. Financial statements of the society is audited by qualified chartered accountants appointed by Annual General Meeting every year.
The Society started its operations in the year 2010. Society has a capital base of Rs.50 crores and has now crossed an overall business level of over Rs.1050 crores. Society has 8 branches and field staff for serving its members at their door step through 250 Customer Facilitation Centres.
We have consistently registered profits and have disbursed a dividend of 12% for the Financial year 2019-20, 13% for Financial year 2020-21 and 12.50% for Financial Year 2021-22.
CFCICI has implemented the Core Banking Solution (CBS) “Profile” of FIS and all branches are net worked. We have put in place proper risk management and compliance process and are well prepared to take care of the accelerated growth plans.
I welcome you to become a member of the society, subject to eligibility as per bye-law, to attain your financial goals and to improve the standards of living by availing the financial services offered by the Society.