Having felt the need to support Central Govt Employees to meet their urgent financial needs, a group of 10 Central Govt.Employees of various Central Govt Offices under the leadership of Sri.KN Nair of PIB and Sri AS Shenoy MPEDA, registered this society on 17.02.1966.

                              At that time there were only three central goverment credit societies – Central Excise and Customs, Port Trust and P&T department. Membership in these societies was limited only to their own employees. The unique feature of CSCS was that employess of Central Govt Offices in Cochin city can become member of this society and avail loan facilities

                              The first office of our society was a rented small room on the first floor of a dilapidated building in South Railway station road with a rent of Rs.25 per month. We had only very little furniture. To start with two desks, two benches, three chairs and one almirah. The first managing committee consited of 11 members.

                             During the first year of the formation we had 327 members for 57 central govt offices in Cochin city which was our operation area. We stared the society with a capital of Rs.25,000 collected from members and loan from Ernakulam Distict Co-operative society for laons to be given the members. The loan limit at that time was Rs.80/- per member repayable in 8 montly instalments along with interest on the basis of gurantee of other two members. Later the office was shifted in a rented building of 1500 sq feet with a monthly rent of Rs 1750/-. Now we have our own building of two stories with fully air-conditioned office space, a room for president, secretary and auditor and an auditorium also.

History of Co-Operative Society Movement

                             The Shore Porters Society claims to be one of the world’s first corporatives, being established in Aberdeen in 1498. The first docum- ented consumer Co–operative was founded in 1769, in a barely furnished cottage in Fenwick, East Ayrshire. In the decades that followed, several co–operatives or co-operative societies formed including Lennoxtown Friendly Victualling Society, founded in 1812.

                             By 1830, There were several hundred co-operatives, some were initially successful, but most co-operatives founded had failed by 1840. However, Lochurst Lane Industrial co-operative Society (founded in 1832 and now Heart of England Co-operative Society) and Galashiels and Hawick Co-operative Societies till trade today. It was in 1844 the Richdale Society of Equitable pioneers established the Rochdale ‘Principles’. This was the basis for development and growth of the modern co-operative movmement. The co-operative movement stabilized in Europe in the 19th century, primarily in Britain and France.

                              Financially, credit unions were invented in Germany in the mid-19th century, first by Franz Hermann Schulze-Delitzsch (1852,urban) then by Freidrich Wilhelm Raiffeisen (1864, rural)

                             An independently formulated co-operative model was developed in Germany, the credit union, by Raifeisen and Schultz-Delitzsch. This model was carried abroad reaching the United States by 1910. By the 1930’s a national association was formed in the U.S and it spread in other country.

                             After world war co-operative banks have become very successful throughout Erurope.

                            Asian Societies have adapted the co-operative model, including some of the most successful in the world. In India co-operative movement got momentum after world war.

Co-operative Movement in Kerala

                           The co-operative movement in Kerala has a long history. The movement started in Kerala long before the attainment of independence. In 1946 there were 1669 co-operative societies with a share capital of 32 Lakhs of rupees. Now it will be much more.

                           Co-operative institutions were developed in Kerala as a result of mass struggles and peoples participation. Co-operative movement has played a great role in freeing the people from the clutches of illicit money lenders who extracted heavy interests.

                           Apart from functioning as a service sector, the co-operative movement also serves as an employment sector also. About 40,000 persons are employed in the co-operative societies coming under the Jurisdiction of the Registrar of co-operative societies .

Money lending through co-operative societies.

                           The co-operative sector in kerala plays its role in the traditional money lending, marketing, Consumer, housing, women’s welfare, educational, health and construction sectors. The functioning of these institutions help to provide the people services of various kinds at low cost.

                           The Kerala Co-operative amendment act in 1969 was an important step forward. This act had modernized the co-operative sector and raised it to a level where it can overcome the challenge of new times.

                           There are at present about 14000 co-operative societies under the registrar of co-operative societies. Of these 10503 societies function satisfactorily. They include the apex institutions like the State co-operative bank, the state agricultural and rural development bank, 14 district co-operative banks, 60 Urban banks, 48 Primary agricultural and Rural Development banks and 1602 primary lending societies. The total deposit in the co-operative sector is 40,000 crores, about the 75% of this is distributed as loans.