About us
The Central Excise & Customs Employees’ Cooperative Credit Society Ltd., established by the dedicated employees of Central Excise and Customs in Kolkata, serves as a financial pillar for its members.
Registered under the West Bengal Cooperative Society Act on 1st December 1957 (Registration No. 58/CAL. of 1957), the society's primary objective is to accumulate funds to provide financial support to its members in times of need.
Our Vision
Our society is a cooperative built on the principles of Mutual Aid, Financial Responsibility, and Collective Action. We exist to provide financial support to our members in times of need, fostering a community that thrives on shared success and resilience.
Membership
Membership to our society is open to any Central GST and Customs (CCP) Employee. Learn more about our membership application process here.
Thrift Fund and Guarantee Fund
Our society mandates a compulsory monthly subscription to the Thrift Fund for all active members. The current Thrift Fund contribution is Rs. 2,000/- per month.
Additionally, a Guarantee Fund is established through a compulsory deduction from the loan amount, which is accumulated in the member's account. The Guarantee Fund currently stands at 5% of the loan amount whenever a loan is taken.
Interest on both the Thrift Fund and Guarantee Fund is paid to members on a pro-rata basis.
Activities
- The society diligently maintains an account for the monthly contribution of the Thrift Fund for all registered members.
- We disburse loans to eligible members, adhering strictly to the society's rules and criteria.
- We send a demand list to the DDOs for the collection of compulsory thrift fund contributions and loan installments, which are deducted from the monthly salary of all members.
- We maintain Guest Houses for our members and non-members, offering them at affordable rates.
- Our operations are fully computerized, ensuring efficiency and accuracy in our financial transactions.
- We offer a mobile app for our members, providing them with easy access to their accounts and our services.
Facilities
- Once membership is granted and the initial Thrift Fund contribution is made, members are eligible to apply for loans from the society, subject to approval by the Board.
- We currently offer two types of loans to active members.
- Members earn annual interest on their Compulsory Thrift Fund and Guarantee Fund contributions, which is paid on a pro-rata basis.
- We declare an annual dividend in respect of the member's share capital amount on a pro-rata basis, which is paid in the subsequent financial year.
- Loan installments and interest are deducted through the member's monthly salary or can be paid directly to the cash counter with the society's permission.
- We provide SMS updates to members regarding their payable amount and any outstanding loans.
- Upon retirement or cessation of membership, all payable amounts (Share Capital, Thrift Fund, Guarantee Fund, etc.) are returned to the member.
Provisions
The maximum loan limit, interest rates on the Thrift Fund, Loans, and Dividends are determined periodically based on decisions made at the General Meeting (BOD). Any amendments to the society's constitutional provisions are made with the due approval of the competent authority, i.e., the Registrar of the Co-operative Society, Government of West Bengal.