Mutually Aided Cooperative Credit Society Ltd - MACCS

Objectives:

  1. To promote economic and social upliftment of its members through thrift, self-help and mutual aid in accordance with principles of cooperation and welfare.
  2. To provide financial and other services to the members at nominal services charges.
  3. No interest as such shall be levied on such loans and advances to members.
  4. Under takes such activities which develop education, skills, social and moral status of the member.
  5. Membership: any person above 18 years of age who abide the bylaws of the society shall be made as the member.

A member has to do the following things:

  1. Purchase a minimum amount of society shares.
  2. Should pay the admission fee, open an account and shall pay annual regular fee.
  3. All members shall have equal access to all the benefits from the society

Types of accounts:

  1. Daily deposits: Under this account member can save their money through daily deposits. A person appointed by the branch shall collect the amount at member doorstep.
  2. Saving account: Under this account member can save money through saving account.
  3. Term deposits: Member who want to serve there fellow members can deposit their amount for a period in multiple of six months.

Type of Loan:

  1. Demand loan: Member can take loan for the non-business activities by keeping gold as guarantee.
  2. A nominal service charges will be collected from the loanies.
  3. Murabaha (cost plus loan): Under this scheme, Bank will provide the business commodities as per the requirement of the applicant to an extent of 50,000(including a margin of profit) and collect the amount in easy installments.

All process and procedure followed are just like other banks.

Branches:-

S.No. Name Branch Designation Phone Email
1 Mr. Asif Khan Adilabad Branch Manager 8019319353 [email protected]
2 Mr. Mujtaba Khan Bidar Branch Manager 9341785466 [email protected]
3 Mr. Asif Mohiyuddin Charminar Branch Manager 9542186688 [email protected]
4 Mr. Syed Abdul Wadood Falaknuma Branch Manager 8686637774 [email protected]
5 Mr. Haji Siddiqi Gajwel Branch Manager 9676589772 [email protected]
6 Mr. Shaikh Mohammed Yousuf Guntur Branch Manager 7093254354 [email protected]
7 Mr. Mujahid Mohiyuddin Ichoda Branch Manager 8341742901 [email protected]
8 Mr. Ghulam Mustafa Kaghaznagar Branch Manager 9347376966 [email protected]
9 Mr. Umair Ahmed Khan Karimnagar Branch Manager 6309699735 [email protected]
10 Mr. Abraar Ali Khammam Branch Manager 9948991336 [email protected]
11 Mr. Mohammed Arif Mahbubnagar Branch Manager 9059891168 [email protected]
12 Mr. Khader Ali Khan Medak Branch Manager 9000602634 [email protected]
13 Mr. Rizwan Khan Nirmal Branch Manager 9849806146 [email protected]
14 Mr. Imran Khan Nizamabad Branch Manager 8309106444 [email protected]
15 Mr. Syed Wajahathullah Ayaz Peddapally Branch Manager 9491665660 [email protected]
16 Mr. Mohammed Sanaullah Sadasivpet Branch Manager 9966857569 [email protected]
17 Mr. Fareedus Saqalain Sangareddy Branch Manager 9440939107 [email protected]
18 Mr. Haji Siddiqi Siddipet Branch Manager 9676589772 [email protected]
19 Mr. Mohammed Khairun Nasireen Subedari Branch Manager 9866574084 [email protected]
20 Mr. Anwar Hussain Tandur Branch Manager 9985055425 [email protected]
21 Mr. Farhan Ahmed Khan Tolichowki Branch Manager 9550276418 [email protected]
22 Mr. Syed Abdul Khadeer Warangal Branch Manager 9490090417 [email protected]
23 Mr. Nizamuddin Zaheerabad Branch Manager 9177024288 [email protected]

Recent News regarding MACCS