THE CHAVAKAD FIRKA CO-OPERATIVE RURAL BANK LTD.F.NO.

1250
HISTORY The Chavakkad Firka Co-operative Rural Bank no.1250 is registered as a cooperative society under Act VI of 1936 (Madras).Its address shall be Chavakkad post in the Taluk of Chavakkad in Thrissur District. BRANCHES OF THE BANK

1. Puvathur 2. Vengidangu 3. Kottappadi 4. Manathala 5. Kadaprom 6.Chowallurpadi 7.Thiruvathra 8.Orumanayur 9.Thozhiyur 10.Guruvayur 11.Iringaprom 12.Pookode 13.Chavakad 14.Pavaratty 15.Thaikad 16.Elavally 17.Venmenad 18.Kundazhiyoor

BOARD OF DIRECTORS

K.V.VENUGOPALAN C.C.FRANSIS V.P.AHAMMADKUTTY A.V.DHARMAPALAN A.MUHAMMAD HAJI P.V.SHANMUGAN MEERA GOPALAKRISHNAN RADHAKRISHNAN K.K.SAID MUHAMMAD A.K.ABDUL KAREEM

ORGANISATION STRUCTURE
PRESIDENT

VICE PRESIDENT

SECRETARY

ASSISTANT SECRETARY

CHIEF ACCOUNTANT

BRANCH MANAGER

HEAD CLERK/ACCOUNTANT

SENIOR CLERK

JUNIOR CLERK/JUNIOR CASHIER

APPRAISOR

ATTENDER

PEON

NIGHT WATCHMAN

NAME OF THE STAFFS OF FIRKA CO-OPERATIVE BANK

K.K.SAID MOHAMMAD A.K.ABDUL KAREEM T.J.VINNY

E.F.JOSEPH

GEETHA.K

SHEEJA.E.D

SUDHEER.M.B

SHIBU ANTONY ABILASH.K.V

SINDHU.A.S

MISSION
The bank continuously envisages to:

Add core deposits continuously

Offer better customer service

Enhance tolerance level in dealing with customers and get better understanding of their requirements

Design and deliver the products and services according to its customers needs so as to give them an exhilarating and enthusiastic experience.

Acquire accounts aggressively

VALUES
The important values that kept by Chavakad Firka co-operative bank are as follows

Excellence in customer service

.Profit orientation

Belonging commitment to Bank

Fairness in all dealings and relations

Risk taking and innovative

Team playing

Learning and renewal

Integrity

Transparency and Discipline in policies and systems.

VISION STATEMENT

Retain its position in the country as pioneers in Development banking.

Maximize the shareholders value through high-sustained earnings per Share. An institution with cultural mutual care and commitment, satisfying

Good work environment and continues learning opportunities

.Consolidating position as a premier public sector bank with increased Emerging as a strong, vibrant, responsive, competitive bank.

global outreach.

Embracing state-of-art technology harnessing human potential and effectively participating in the process of nation building. Serving its constituents and shareholders as a faithful friendly financial partner.

OBJECTIVES OF THE BANK

o To encourage thrift, self help mutual aid among the members. o Receiving deposits from the members for the purpose of issuing short term and medium term and long term loans.

o Purchasing of seeds, fertilizers, pesticides, cattle feed and agricultural equipments and selling these among the members at reasonable rates or helping them to purchase by providing financial assistance. o To sell the agricultural products of the members through marketing cooperatives or by direct marketing.

o To prepare agricultural product plan for the benefit of members and get them executed. o To help the agriculturist for the production of new kinds of seeds.

o To sell seeds, manure and agricultural implements on agency basis and collect the cost. o The purchase of movable and immovable properties for the working of the bank.

o To provide facilities to the members for producing green manure with in the area of operation. o To collect and store new and modified agricultural equipment to the members on hire.

o To provide financial assistance in the form of hire purchase to the members for purchasing household and other articles. o To do all things necessary for the fulfillment of the above purpose either partially or wholly.

MEMBERSHIP

Any person above 18years of age, who is competent to contract and residing within the limits of its area of operation of the society shall be eligible for admission as a member.

SOURCES OF RAISING FUNDS

The Chavakad Firka Co-operative Rural Bank F no.1250 creates funds from the following sources; Shares Loans and Advances Donations Special Subscriptions Reserve and other Fund Undistributed Profits

SHARES The bank has two types of shares. They are; 1. A Class shares These types of shares are taken by the members of the co-operative society according to the rules and regulations of the co-operative society Act. 2. B Class shares These shares are taken by state government, district government, and statutory non-statutory board, committee or corporations approved by the government in this behalf or any other society. LOANS The co-operative bank provides loans only to the members. Loans will be provided to the members only after getting sanction from the Director Board. But in certain circumstances the President can also allow the members of loan up to RS.50000/- on the recommendation of the same. The amount of loan is given only on the basis of the share ratio determined by the registrar. The following types of loans are given to the members of the society. Short term loan: These loans are given only to those members who are farmers. In the beginning of cooperative year Director Board will make assessment of credit requirement of the farmers for raising the crops in each agricultural season. Based on the production plan the actual requirement of credit is assessed applying the scale of finance. The repaying capacity and precedence of the members in repayment of loans are also essential factor in fixing the amount of loan.

Medium term loan: These loans are granted for the purchase of agricultural machineries and purchase of poultry, piggery sheeps etcAs per instructions of Registrar this loan can be granted to other members also. The maximum repayment gap is 5 years.

Housing Loan: The loan facility is granted only to the staff members. The rate of interest change is 11% per annum. The maximum amount of housing loan granted is 2.5 lakhs. Gold Loan: Gold loan is used on the basis of accepting gold as security. The rate of interest on gold loan is 13%.If the loan is outstanding for a period exceeding 6 months 1% insurance and 3% overdue interest will be charged. DEPOSITS Deposits are considered as ideal source for raising funds. The bank accepts various types of deposits both from the members and non members. Interest should be fixed as per the directions as per the registrar. Different types of deposits accepted by the bank are explained in the following pages.

1. Current Deposits:

Any person can open current account in the bank with the permission of the secretary. The minimum amount to be invested is rs.250/-and there is no maximum limit. The rate of interest will be fixed by the Director Board. The interest rate will be calculated on each months least deposited amount.

2. Saving Bank Deposits:

Any person who is interested to open a savings bank account (with the permission of the secretary), should always have a minimum amount of rs.250/in their account and there is no maximum limit. The interest rate will be calculated on each months deposits in the account.

3. Fixed deposits:

This is deposit of a fixed amount of money for a fixed period. The minimum amount should not be less than the rs.250/-.The interest rate will be fixed by the

registrar of co-operative societies. The depositor can renew his deposits after the fixed time period by sending an application to the bank requesting the same. Otherwise, interest on fixed deposits will automatically stop.

4. Recurring Deposits: In General Board of Directors meeting 2/3rd of the members decide that any of the members can invest at least twice in a year in this deposit. On harvesting season, the members should swear himself that a specific amount will be invested by him in recurring deposits. The recurring amount will be in multiple of rs100.After opening the accout; members are not allowed to withdraw any amount within 3 years.

5. Athulya Deposits:

This is a cash certificate. The duration of this deposit is about 8 years. This special deposit scheme is provided by Chavakkad Firka co-operative Rural Bank. The main motives of the scheme are the common welfare of the people. For example, if you deposit rs10000/-on this special scheme you will get your money doubled after the duration of 8 years.

6. Abhivardhini Deposits:

This is also a cash certificate issued by Chavakkad Firka Co-operative Rural Bank. The duration of this special deposit is 13 years. For example if you invest Rs 50000/- in this special scheme you will get Rs 218315/- after 13 years. They are given so on the basis of cumulative interest calculated year by year.

DONATIONS

Bank receives donation and other incomes such as entrance fee amount charged for the service rendered to customers and special collection etc. This contributes other sources of funds for the Bank.