In a remarkable display of growth and resilience, Hyderabad based Citizen Cooperative Society, one of South India’s leading multi-state credit cooperatives, has surpassed an impressive business mix of Rs 4,300 crore while recording a robust net profit of Rs 81.97 crore for the financial year ending March 31, 2025.
What makes this development even more significant is the Society’s firm intention to transform itself into a full-fledged cooperative bank. The management has formally conveyed its consent to the NAFCUB Task Force set up to examine and facilitate credit cooperatives keen on conversion into banks.
As per the unaudited figures exclusively accessed by Indian Cooperative, the Society’s total deposits stood at Rs 2,277 crore while its advances touched Rs 2,112 crore. The reserve fund witnessed healthy growth, increasing from Rs 321 crore in FY 2023-24 to Rs 385 crore by March 31, 2025.
Operating through a robust network of 42 fully computerized branches, Citizen Cooperative offers a diverse loan portfolio comprising gold loans, mortgage loans secured by 200% urban property collateral, as well as small and medium-term credit facilities. Since its inception, the Society has remained consistently profitable and has rewarded its members with appreciable dividends.
With a strong membership base of 1,01,842 and a paid-up share capital of Rs 66.27 crore, the Society’s total reserves have reached Rs 385.52 crore, including Rs 299.78 crore in statutory reserves. Total investments stand at an impressive Rs 549.63 crore.
To meet the evolving challenges of the banking sector, the Society has fully professionalized its operations under the leadership of Managing Director M. Narendra Kumar, a former Deputy General Manager of Union Bank of India (formerly Andhra Bank). He is ably supported by K. Venkata Subbalah, retired General Manager of Union Bank, who advises the Board of Management.
In a bid to offer seamless services to its customers, Citizen Cooperative has migrated to a Core Banking System (CBS), enabling ‘anywhere banking’ across its branches. All branches are equipped with safe-deposit lockers and strong rooms, ensuring both modern banking convenience and high security.
The governance of the Society rests with an elected Board of 10 distinguished professionals from banking, finance, and engineering backgrounds. The Board, elected for the 2020–2025 term, meets regularly to shape policies on lending, investments, human resources, and operational strategies. Specialized sub-committees are in place to oversee HR management, loan recovery, audit, and inspection functions.
Beyond banking, the Society offers unique member benefits such as accidental insurance coverage of up to Rs 3 lakh for all account holders and an ex-gratia payment of Rs 15,000 to the nominee in the event of a member’s demise. Meritorious children of members are also recognized with annual cash awards.
The institution takes pride in its 300 dedicated employees who enjoy comprehensive benefits like provident fund, gratuity, pension, health insurance, medical aid, and performance-linked bonuses. One percent of the net profit is reserved annually for staff welfare, and regular training programs ensure continuous skill enhancement and leadership development.
Over the years, Citizen Cooperative has earned numerous accolades, including being recognized as a “Model Society” by the Government of Andhra Pradesh in 2002 and receiving the “Excellence Award” from NAFCUB in 2007-08. The Society is also ISO 9001:2015 certified by HyM International Certification Pvt. Ltd., UK.
Founded under the Andhra Pradesh Mutually Aided Cooperative Societies Act, 1995, and later converted into a Multi-State Cooperative Society in 2005, the Society now operates in Telangana, Andhra Pradesh, Karnataka, Maharashtra, Odisha, and Puducherry, marking its footprint as a trusted financial institution across South India.
