Shri Venkatesh Multistate Co-Operative Credit Society Ltd becomes a strong base of trust for millions of families

It is easy to dream, but it requires struggle, hard work and strong intentions to turn those dreams into reality. With this thought, four youths from the small village Balmatkali in Maharashtra started a journey which has today brought a change in the lives of lakhs of families. “Shri Venkatesh Multistate Co-Operative Credit Society Ltd”, which started without any political or economic background with just the feeling of doing something big for the society, has today become a symbol of trust, progress and modern banking in rural India.

The organization was started in the year 2013 on the auspicious occasion of Gudhipadwa. At that time resources were limited, experience was less and challenges were great. But the founder of the organization, Mr. Shri Abhinath Shinde, Chairman Hon. Shri Krishna Masure, Co-Founder Hon. Mr. Vyankat Deshmukh and co-founder Hon. Shri Anil Gunjal had only one goal in mind – to make the common citizens of rural areas economically strong.

These youth had seen very closely the economic problems of farmers, labourers, small traders and middle class families living in villages. Many people did not have adequate financial resources to save, start businesses, or educate their children. Banking services were limited to cities and rural citizens were not able to get proper guidance. The foundation of the organization was laid with the resolve to change this situation.

The organization started with only 104 members and a capital contribution of Rs 22 thousand 440. But despite limited resources, the team’s confidence and hard work was very strong. The organization attracted people’s attention by doing a business of about Rs 8 crore in the very first year. This achievement was considered very big at that time, because it is not easy to make one’s mark in the banking sector.

In the initial phase, the organization had to face many types of criticisms and challenges. People believed that modern banking could not be successful in rural areas and it would be difficult to survive in front of big banks. But the organization answered every question with its work and transparent behavior.

The team of the organization went from village to village and met the people, understood their problems and assured them that banking is not limited to big cities only. Customers were served as if they were part of the family. This is the reason why millions of people continue to trust the institution today.

Today the family of Shri Venkatesh Multistate Co-Operative Credit Society Ltd has reached more than 3 lakh members. 67 branches of the organization are successfully functioning in Maharashtra and Karnataka. This journey, which started in the year 2013, has today reached a business of more than Rs 1234 crore.

With time, the institution also strengthened digital banking in rural areas by adopting modern technology. Facilities like Mobile Banking, Internet Banking, WhatsApp Banking and SMS Banking were extended to every village. Due to this, rural citizens also started getting the benefits of modern banking easily.

Today services like Saving Account, Gold Loan, Fixed Deposit, Pigmy, Recurring Deposit are available in completely digital form. The facilities for which earlier one had to depend on the big banks of the cities, have today reached the farmers, women and small shopkeepers of the villages.

The biggest feature of the institution is that it did not limit banking to only economic dealings, but also gave equal importance to social responsibility. Many social service initiatives are being continuously run through Venkatesh Foundation.

Thousands of people have been examined and treated by organizing free health camps in rural areas. Facilities like cataract operation were provided to the needy people through eye check-up camps. Special guidance programmes, employment fairs and skill training camps are being organized for women empowerment.

The organization is also running “Student Economic Literacy Campaign” to increase financial awareness among students. Through this, the importance of saving and investment is explained to the children by going to schools. To give students information about the banking system, they are also given direct experience of bank branches.

Arrangements for free food both the times have been made through “Vyankatesh Annachhatralaya” for the patients and their families coming for treatment in Ahilyanagar. This is providing great relief to needy families.

Apart from this, the organization is also doing the work of conservation of indigenous cows through “Vyankatesh Balambika Goshala”. The organization is working to provide help to every section of the society through many social initiatives like Shetkari Vikas, Gaurav Puraskar, Swargarath Seva.

Today Shri Venkatesh Multistate Co-Operative Credit Society Ltd is not just a financial institution but has become the hope and confidence of millions of people in rural areas. The organization has proved that if the intentions are strong and there is a feeling of working for the society, then big change can be brought even with limited resources.

Under the leadership of Chairman Shri Krishna Masure and CEO Shri Vaibhav Mane, the organization is continuously establishing new dimensions. The objective of the institution is not only to provide banking services but also to economically empower rural India and give new flight to the dreams of the people.

Today this institution has become an inspiring example of faith, hard work and social responsibility.