Dear Members,

The ESIC Employees Co-operative Credit Society Ltd was registered on 18-9-1952 under the Madras Co-operative Societies Act and then on 10-9-1975 it was registered as a Multi-State Co-operative Society and till date successfully servicng to its members.

1. The Co-operative Currency Society was registered on 18-9-1952 under the Madras Co-operative Societies Act and then on 10-9-1975 it was registered as a Multi-State Co-operative Society and till date it is serving the members.s.

2. Medium Term Loan upto Rs.8,00,000/- has been provided to eligible members at the rate of 10%.

3. Society provides a maximum of Education Loan Rs 50,000/- and Festival Loan Rs 50,000/- to its members.

4. Under family welfare scheme Rs.300/- per month is deducted from members and upto Rs.3,00,000/- is being given as family welfare scheme assistance to the nominee of the deceased member.

5. Interest for Recurring Deposits are payable at rate of 7.50% per annum.

6. Interest for Fixed Deposits are payable at rate of 8.50% per annum.

7. Maximum share amount allowed upto Rs.80,000/- from members and dividend shall be paid to the members annually.

8. An amount of Rs.500/- to Rs.1,500/- is deducted from members depending on their salary as Thrift Savings. Interest is being paid for the accumulated amount to the members every year.

9. A meeting of Directors is held once a month and the grievances of the members are addressed immediately under the legal plans and resolutions are passed and recorded – Minutes Book - with the approval of the directors.

10. Audit is conducted every year and General Body Meeting is conducted within due time with relevant audit certificate.

11. Within a specified period Directors are elected in accordance with the provisions of the Act in the presence of the Election Officer.

12. We offer our gratitude to all the good souls who have supported our association with unshakable faith. Looking forward to members’ continued cooperation in the years to come.

With regards