Bank Swot Analysis
2.5 COMPANY PROFILE
The bank had its origin in the Pazhayangadi producers-cum-consumers society formed on July 31, 1946 to address the shortage of food in the erstwhile Madai farka following the outbreak of the World War 2. Madai co-operative rural bank was registered on 23-01-1956 and started functioning on 19-04-1956 with 3,742members and share capital Rs.65000.
OBJECTIVES OF THE BANK
• The following are the main objectives of the bank
• To borrow funds from members and other to be utilized for loans to members to useful purpose.
• To procure and supply agricultural requirement like seed manure implement cattle feed etc.
• To arrange for the sale of agriculture product of members to the best advantage.
• To own or hire processing plants
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• To provide any branch banking to its members and customers by implementing core banking facility.
• To act as a corporate agent of general insurance company to collect premium.
EMPLOYEE PROFILE
There are 219 employees comprising of secretary, 167 regular employees and 70 commission agents. The employees are very much dedicated and hard working and they are able to maintain good customer relations through their polite behavior. The bank is imparting training to the employees to cope up with the new technology and methods that are taking place in banking sector as part of banking innovation. The working time of the bank is from 9.30 am to 5.00 pm.
BRANCHES
At present the bank has 22 branches, of which 3 are evening branches. Pazhayangadi town branch works the whole week from8 am to 8 pm. Six branches (Pazhayangadi, Kannapuram, Kuhnimangalam, Matool, Edakkom, Muttam) function in own building. The construction work of the own building for Kuppam branch is almost complete. The bank could meet all the needs of its members and customers by providing banking services from 9:30 am to 4:30 pm.
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The term of office of the Board of Management expires on 31/12/2018. The board of Management has tried its level best to formulate and implement policies in view of the development of the bank. Cooperatives are the shareholders association. Members are the real owners in the society. Membership is open and voluntary. Any person over 18years age would be eligible for admission as a matter of right. The bank has 3 type of membership A class, B class, and C class. There is no government membership in the bank. A class membership is provided to those personals residing within the areas of bank. They can attend the general body meeting and also have voting rights. B class and C class is also available to those people was residing outside the area of bank. B class membership is allotted to person availing gold loan. Hire purchase loan, cash credit loan and group deposit loan are allotted to C class members. Every A class and C class members shall pay a entrance fee of Rs.10 each and B class members Rs.2 each at the time of joining as a member.
VISION
• To be the Bank of the
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