The Registered office of the Society located at No.63/3, 2nd Floor, 3rd cross, 4th main, Srirampura, Bangalore 560021.
21st January is a memorable day for the members of the Society. It was the time when the employees of the Bank were getting meager salaries which was hardly enough to make both ends meet. With salary income alone, it was not possible for the employees to meet the expenses on education, hospitalization, religious functions like marriage etc., of dependant family members.It was very difficult to secure a loan at an affordable rate of interest. Despite being employees, the bank also did not extend credit facilities to the employees for the circumstances as mentioned above. The only available source is to avail loans from private money lenders at a very high rate of interest. But, repayment of the debt being next to impossible, employees became permanent debtors.
It is this circumstances that some far-sighted employees of the Federal Bank Limited, thought it fit to start a co-operative society of their own, so that the needy employees can get the required financial assistance.
Thus, came into existence this Society of ours through registration under Karnataka Co-operative Societies Act on 21st January 2016 with Reg.No.OTS-1/66/HOT/47956/2015-16.
AIMS / OBJECTIVES OF THE SOCIETY :
The Aims and Objectives of the Society shall be:
- To borrow funds from members or others to be utilized for loans to members for useful purpose.
- Generally to encourage thrift, self help and cooperation among the members staff / employees.
- To mobilise savings and help its members in obtaining their credit requirements and to prepare and finance schemes for amelioration of the financial conditions of members.
- To evolve, promote, manage and run any scheme or schemes for providing retirement benefits/ medical relief for the retiring members (Associate Members) from service .
- To undertake such other activities as may promote the economic interest of members and are incidental, conducive to promotion or advancement of the above objects
- To promote the interest of all its members to attain their social and economic betterment through self- help and mutual aid in accordance with the cooperative principles.
- Shri. Rajamanikyam S, President.
- Shri. Lokesha.A, Vice President.
- Shri. Rakesh Kumar.S, Board of Director.
- Shri. Khalil N.C, Board of Director.
- Shri. Shiva Kumar.N, Board of Director.
- Shri. Viliyas.N.C, Board of Director.
- Shri. Kumar.D, Board of Director.
- Smt. Veena.D, Board of Director.
- Smt. Jayalakshmi, Board of Director.
- Shri. Anil Kumar.U.S, Board of Director.
- Shri. Ashok Kumar.N, Board of Director.
- Shri. Ramesh.K, Board of Director.
- 13. Shri. Akram Pasha, Board of Director.