When smaller co-ops own their own offices, there is jubilation in the team. Mumbai (Maharashtra) based New Satara Zilla Nagrik Multi State Cooperative Credit Society is planning to build a new office, which will be equipped with all the modern facilities.
While talking to the Indian Cooperative correspondent at his office in Mumbai, the society Chairman Rajaram Nikam said, “We have purchased 1500 sq ft land at Pratiksha Nagar which is close to Sion Hospital and the construction will be started in a couple of days. We aim to have the construction completed in a year. It will be a three-storey building”.
Sharing the future goals and targets to take the society to newer heights, the society Chairman said, “Last year, we got the multi state status and with this we expanded our footprint to Belgaum, Karnataka. Now we are eying to make it a multi purpose credit cooperative society”.
“We are looking forward to taking the loan of Rs 500 crore from the National Cooperative Development Corporation (NCDC) for constructing the hospital for the downtrodden people. Our society is working with an objective for helping the poor who are being neglected by all”, Nikam underlined.
He further added, we have applied for more 15 branches which we will be opening in different parts of Maharashtra. At present the society has a network of 36 branches but is planning to touch the figure of 50 in a couple of years.
“The society was established in 1990 with 529 members and a share capital of Rs 34,700 but now the membership base is 1.07 lakh with Rs 87 crore share capital. The society’s total business mix is around Rs 2,000 crore but aiming to achieve 2500 crore till next year. The society earned a net profit of Rs 13.57 crore in 2022-23FY”, Nikam informed.
New Satara Zilla Nagrik Multi State Cooperative Credit Society is carrying out its activities with the help of modern technologies. The society not only provides CBS, Mobile Banking, RTGS/NEFT but also onsite ATMs.
The Chairman said, there was a negative impact of Corona on business and the society functioned as usual, he underlined.
Chavan added that the society is also active in doing social work. We have distributed free books to the students of 11th and 12th standard, free health check-up camp for members, helped the flood victims of Poladpur, Shirala, Karad and many others.