Vijaya Youth Club Co-operative and Credit Union (VYCCU) Savings and Credit Co-operative Limited

Organization Name

Vijaya Youth Club Co-operative and Credit Union (VYCCU) Savings and Credit Co-operative Limited

 

Chairperson

Mr. Indraraj Jyoti Paudel

Manager

Mr. Madhab Paudel

Contact Address

Gaindakot-8, Nawalparasi

Tel No.: +977-56-501364

Fax No.: +977-56-502601

Email Id: vyccu@vyccu.org.np

 

Website

www.vyccu.org.np

 

     

 

Organizational Synopsis:

VYCCU Savings and Credit Co-operative Limited is a sole-purpose, (working in the field of saving and credit) co-operative institute in its infancy. Following the international credit union principles, it has been collecting savings from its shareholders, offering a certain amount of interest on the savings and lending money to its shareholders at reasonable interest rate.

 

This institute was established on the 5th of Bhadra in 2048 B.S. under the initiative of VDRC (then Vijaya Youth Club) with the active participation of 26 shareholders. Due to the confusion in lending it institutional legitimacy through registration, it was named ‘Vijaya Youth Club’. This, in short, is known as VYCCU. At present, it is running after having been registered under Co-operative Act 2048 and Co-operative Regulation 2049 at the co-operative institute in Nawalparasi in the year 2050.

 

The aim of the institute is to emancipate the society from the prevalent poverty, illiteracy and indulgence and to develop the god habit of saving and thus mobilize the same saving among the shareholders to encourage small-scale entrepreneurship.

 

It has been providing Saving, Credit, Money transfer, Cooperative education, health and family planning services to the members. It is awarded Five Star by MIX Market.

 

Organization Details

1

Legal Status

 Micro Finance Development Banks

 NGO promoting Microfinance

 Cooperative

 Others

Specify _________________

2

Established Date and Place

August 21, 1991, Nawalparasi

3

Geographical Focus Area Area (Hill, Mountain & Terai)

 

4

Vision Statement

Establishment of pioneer financial institute based on social justice, public credibility and imitable self-reliant community.

5

Mission Statement

  • Setting up of an institute based on co-operative principle and financial capability.

 

  • Mobilization of local resources will administrate institute devoid of all social discrimination. Emphasis on social unity and development of human as will as material prerequisites.

6

Number Of Districts Coverage

1

7

Products and services

  • Loans
  •  Savings
  • Funds Transfer Services
  • Training and Consulting
  • Fund Transfer Services
  • Entrepreneurs

8

No. of Members

9638

9

Loan Outstanding (NRs)

259,048,335

10

Total Deposits (NRs)

318,715,625

11

Share Capital (NRs)

36,823,300

12

Partner Organizations

Micro Credit Rating International Ltd. (MCRIL)

Mix Market

Micro Save International