All-round progress of Samata Civil Co-operative Credit Institutions:
With a view to meet the financial needs of the small traders in Kopargaon town, Samata was established on 11 May 1986 in a premises of 10 by 15 feet on Shivaji Road with a share capital of Rs 1 lakh, deposits of Rs 3 lakh and 700 members to bring equality among the small traders of the taluka Civic Cooperative Credit Institution was established. Since the inception of Samata, maintaining the principles of co-operation on the basis of co-operative principles, in the initial four years till 1991, the institution had attained the deposits of Rs.1 crore. After that, under the guidance of Chairman Omprakash Dadappaalias Kaka Koyate and Board of Directors of Samata Credit Union, Samata is taking the graph of financial progress higher without looking back. Today, Samata Credit Union has 21 extended gold loan counters with 13 branches and has a network of Samata Credit Union all over Maharashtra. Samata Patsanstha has 67,982 members through 16 branches and 23 gold loan extensions counter,extended cells as on 24 May 2022. While disbursing Rs. 665 crore 81 lakh deposits and disbursing loans of Rs 497 crore, it has crossed the milestone of Rs 1,200 crore combined business.
In Maharashtra, the cooperative movement of credit institutions was started in 1986. The time when the credit union movement flourished and the establishment of Samata Credit Union was a coincidence. Samata's economic development graph kept increasing every year. But in this economic progress, the institution also faced many crises. Mainly four crises have to be mentioned in 2006 when the deposits of Samata Credit Union were 57 crore rupees due to adverse news in local newspaper on December 6, 2006that the deposits of Samata began to decrease. But the Chairman of Samata Credit Union Kaka Koyate and the Board of Directors did not waver. Deposits of members were returned to members. Recovering from this crisis, the institution's deposits started to increase again in 2007. Then in 2009 Samata had to face natural crisis. The main office of the organization was flooded with water up to 20 feet due to the flood. Then the opponents started spreading propaganda but the trust given by Samata to the depositors did not shock the deposits. On the second day after the flood receded, the office was opened in the hall on the second floor of the grand building of Samata. After this, equity deposits started to increase again.
In the year 2016, all the credit institutions in the credit institution movement faced a crisis. There was also a crisis in front of Samata. On November 2016, the central government had announced the decision to ban 1000 and 500 rupee notes. Because of this, all the banks and credit institutions were in panic. It also included Samata Credit Union. There was confusion among all the depositors. The institution's deposits had started to dwindle. But instead of considering this crisis as a calamity, Samata resolved the problem and changed the operations of the institution, regained the trust of the depositors and provided security to their deposits, and Samata started to recover in the financial sector.
Even in March 2020, the corona epidemic was hoveringnot only over India but all over the whole world. So, there was complete lockdown in Maharashtra for 4 months. During this lockdown, job creation, businesses were closed, so depositors started withdrawing deposits for daily expenses, while borrowers did not have money to pay their loans. Even in this situation equity recovered and equity deposits increased substantially in financial year 2019-20. Even today this growth is mounting continuously. During this corona epidemic, Samata also did the work of providing relief to the customers and members of Samata.
In today's modern era, Samata has made economic progress and through modern technology, Samata has reached the homes of every customer and member of the organization. Due to the modern technology, the services of the organization are also provided quickly to the customers by interacting with them. Also, since the financial transactions are also successfully done online, the motto of the organization, faith + security = equality, has reached every customer in Maharashtra. Due to this online system used by Samata Credit Union, annual budget of Samata Credit Unionis published on 30th March itself every year. Due to modern technology, Samata Credit Unionis recognized as the first credit unionin Maharashtra except Mumbai to publish annual budget on 30th March itself.
Samata Credit Unionhas earned the honor of implementing new schemes and activities in the credit institution movement in India and Samata Credit Unionis the first credit Unionto develop such facilities through modern technology in the entire banking movement of Maharashtra. State-of-the-art technologies used at Samata include Mobile Banking, Paperless Banking, Net Banking, Core Banking, RTGS, NEFT, E-Document, Locker Facility, Forensic Audit Control Room, Online Samata Recovery Pattern, Online Voucher less Banking Mode, QR Code through UPI System under the Samata Liquidity Base Protection etc., deposits of Rs. 22 lakh each have been protected giving 99.55 percent security to the deposits of Samata depositors. This scheme is proving to be a good side for the financial strengthening and progress of the organization. Also, under various schemes offered to the member customers through Samata Credit Union, Samata Family Welfare SchemeSure Sale, Sure Payment Scheme, Home Pension Schemefor Senior Citizens, Bal Gaurav Deposit Scheme, Low Interest Rate Gold Loan Schemefor Farmers special interest on deposits for women etc.For women empowerment Samata is implementing equity scheme such as providing loans to women self-help groups. Also, Samata Urban Cooperative Credit Union and Samata Women's Savings Group have provided employment to the women of the taluka by producing incense sticks, camphor and wicks. The products produced by women self-help groups have been provided with a rightful market and Samata’sSahakar Mini Mall has provided a rightful selling point. Apart from this, while maintaining the social commitment, during the Corona era, Samata has played an important role in social activities such as delivery of food packets to orphans and needy people, distribution of free masks, distribution of free hand wash etc. During the financial progress of Samata Credit Union in the credit movement, many dignitaries and experts in the cooperative sector paid a goodwill visit to Samata and benefited from its fundamental guidance.