Markfed Credit Society provides members with digital tools for transparent contribution tracking, responsible loan management, and robust governance reporting.
To inculcate the habit of saving among its members.
To arrange for the safe investment of this money.
To arrange for loans to be given to members at reasonable interest rates as needed.
To provide financial help and manage household item sales/purchases for members.
To act as an agent for loan transactions on behalf of the government.
To manufacture, purchase, and sell items for the economic upliftment of women members.
To develop and implement programs for members' social and recreational development.
To perform other necessary functions to achieve these objectives.
To implement group health, life, and accident insurance schemes for members.
The Vipanan Sangh Employees Cooperative Credit Society Limited, Bhopal was formed in 1993 with the willing support from MARKFED employees, with the main purpose of establishing a financial trust that caters to two financial requirements of employees: to save money and to loan money in case of emergency.
On 31st March, 1993, the Credit Society was registered under the Madhya Pradesh Co-operative Societies Act 1960 and Rules 1962. Any MARKFED employee could become a shareholder by paying Rs.10/- per share.. + more