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MUTUALLY AIDED COOPERATIVE CREDIT SOCIETY LTD – MACCS

Co-operatives in Andhra Pradesh and Telengana Regd. under Andhra Pradesh Mutually Aided Cooperative Societies Act 1995 (APMACSA)

Objectives:

To promote economic and social upliftment of its members through thrift, self-help and mutual aid in accordance with principles of cooperation and welfare.

To provide financial and other services to the members at nominal services charges.

No interest as such shall be levied on such loans and advances to members.

Under takes such activities which develop education, skills, social and moral status of the member.

Membership:any person above 18 years of age who abide the bylaws of the society shall be made as the member.

A member has to do the following things:

Purchase a minimum amount of society shares.

Should pay the admission fee, open an account and shall pay annual regular fee.

All members shall have equal access to all the benefits from the society

Types of accounts:

Daily deposits:

Under this account member can save their money through daily deposits. A person appointed by the branch shall collect the amount at member doorstep.

 

Saving account:

Under this account member can save money through saving account.

Term deposits

Member who want to serve there fellow members can deposit their amount for a period in multiple of six months.

Type of Loan:

Demand loan: Member can take loan for the non-business activities by keeping gold as guarantee.

A nominal service charges will be collected from the loanies.

Murabaha (cost plus loan): Under this scheme, Bank will provide the business commodities as per the requirement of the applicant to an extent of 50,000(including a margin of profit) and collect the amount in easy installments.All process and procedure followed are just like other banks.

Read more @ hwfap.org/mutually-aided-cooperative-credit-society-ltd-maccs/

SEVA MUTUALLY AIDED COOPERATIVE CREDIT SOCIETY LTD.

BRANCHES

TANDUR, TELENGANA

Name of the Branch

:

Kolkata Branch

Contact Person

:

Siraj Samdani

Designation

:

Vice President

Phone no

:

9848079212

Email Id

:

sirajsamdani9212@gmail.com

 

TOLICHOWKI, TELENGANA

Name of the Branch

:

Tolichowki Branch

Contact Person

:

Suleman Baqar

Designation

:

Vice President

Phone no

:

8790077635

Email Id

:

baqar.sulaiman@gmail.com

 

CHARMINAR, TELENGANA

Name of the Branch

:

Charminar Branch

Contact Person

:

Mohd. Musthaq

Designation

:

BMC Member

Phone no

:

7386127179

Email Id

:

omeraysh@gmail.com

 

ADILABAD, TELENGANA

Name of the Branch

:

Adilabad Branch

Contact Person

:

Tanveer Ahmed

Designation

:

President

Phone no

:

8341742172

Email Id

:

tanveer.adb@gmail.com

 

NIZAMABAD, ANDHRA PRADESH

Name of the Branch

:

Nizamabad Branch

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