Co-operative Credit Society
Sumangalam Multistate Co-operative Society Ltd
REG NO: xxxxxxxxxxxxxxxx
Sumangalam is a co-operative credit society. Members hold shares, keep deposits, and draw loans through the society’s own books.
Visit the officeAbout us
Sumangalam Multistate Co-operative Credit Society is owned by its members. The office keeps each member’s account for shares, savings, deposits, and loans. Anyone who wants to join can visit the society office with their details and the opening amount. Existing members can deposit, withdraw, or ask about a loan at the counter.
Services
These are open to members. New visitors can ask at the office about joining.
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Membership
Join the society and receive your own account number. Bring your personal details and nominee name when you enrol.
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Shares
Members hold shares in the society. You may add to your shares later, and a dividend is paid when the society declares one.
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Savings
Keep a savings balance with the society and draw from it when you need to. Interest is added as decided by the society.
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Recurring deposit
Save a fixed amount every month for an agreed term. At the end, the society pays the deposit back with interest.
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Fixed deposit
Place a lump sum for a set period. You may renew it or collect the maturity amount. The office issues a deposit certificate.
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Loans
Members can apply for a loan. After it is sanctioned, repayment is collected in instalments. Ask the office for the current limit and rate.