The People's Mutually Aided Co-op Credit Society Ltd., was established on 29th January, 2001 by retired officials of Bank of India. The founder Chairman, Late Shri G.G.K. Murthy a former Director of the Bank, felt the need for establishing a Credit Society to help Senior Citizens receive reasonable interest on their deposits, as interest rates of Banks had gone down drastically. Hence, the People's Co-op Credit Society came into being. Please note that we have only one branch whose address is listed below. We do not have any other affiliates or branches anywhere else in the country.

Our Commitment

True to the purpose of its establishment, the Society has nearly 75% of its members who are Senior Citizens. The membership of the society as on March 31st, 2023 stands at 2689 comprising a number of widows and aged individuals. Interest is paid promptly every month - which to a large extent, takes care of their livelihood. Apart from deposits, the Society also sanctions loans to salaried employees at low rates of interest, upon the guarantee of their employers. Gold loans are also sanctioned at concessional rate of interest. To enable one to construct a dwelling, the society sanctions loans for housing against mortgage of land.

Our record

Our consistent track record of uncompromising ethics instills confidence and trust. For the 23rd year running, the Society has received an "A" audit rating. The Society has also been paying a regular dividend to all its members since inception. This year, the Board of Directors has sanctioned an interest of 8% in addition to the regular dividend of 42%. This gives a return of Rs 50 on a share of Rs 100!

The People's Co-op Credit Society regularly provides 1% of its profit to various charities and non-profit organizations thru a "Common Good Fund" - details of which are available in the    ANNUAL REPORT 2022-2023