About SACCOS

Chandragiri Savings and credit cooperative society is a community-based member owned cooperative organization established in January 06 2001 by the 25 generous people including unsalaried, farmers and social activists located Mahadevsthan and its surrounding area at that time. later it is registered under cooperative act 2048 at division cooperative office Kathmandu on April 19 2001. The purpose of establishing this co-operative society was to fight against poverty that existed in this area and enhance mutual help through cooperative activities. It is located in the northern part of chandragiri hill of Kathmandu District. It has covered Kathmandu and Lalitpur District and Dhunibesi Municipality of Dadhing district as it working area and operating 4 service centers in different places. It has been providing wide range of financial and other services to its member to uplift socio economic status of their life. Currently, Chandragiri is offering 12 saving products, 19 loan products and 12 member social security programs and 5 other services.

Chandragiri is affiliated to Association of Asian Confederation Of Credin Union, Bangkok Thailand (ACCU), Nepal Federation of Savings and Credit Cooperative Union(NEFSCUN), National Cooperative Bank of Nepal (NCBL), Kathmandu Saving and Credit Cooperative Union (KASCUN) andKathmandu District Union of Cooperative. It has been contributing to promote savings and credit cooperatives in Asia as it is a supporter member of ACCU.

Since it has been providing a quality services to its member and contributing to nation building it has earned so many awards and recognitions from its stakeholder. "The Excellent Cooperative Business Award 2076" provided by National Cooperative Federation of Nepal is one of them which is very significant in its journey of 20 years.

Up to the end of Month Baisakh 2078, 13616 individuals are getting services from Chandragiri and It has 2 billion and 526 million rupees of total assets. Although COVID-19 has certainly had an impact on its business, itis seeing tremendous growth. in mortgages and mortgage refinancing, as rates continue at historic lows. It's also seeing a resurgence in consumer loans such as auto, professional, and home equities.

Whether Pandemic or not, Chandragiri is always ready to help its community. During the outbreaks it has organized several blood donations programs. It provided rebate in interest of loan to COVID impacted borrowers. It facilitated to make members participation in Corona insurance. It has been providing emergency fund support to highly impacted members from coronavirus and paid the hospital bills in the hardship period. It toughed members various ideas to be economy in pandemic period.  Likewise, it supported the local and federal government by contributing Corona virus fund and provided some fund to National Innovation Center to encourage social activities. Its goal is to keep members happy and prosperous and businesses solvent and to protect their loans. When all of this is over, and new normal day will come, it recommendsto its members' financial health and safety to have been preserved.

Vision:

"Sustainable SACCOS and happy and prosperous member" is its vision.

Mission:

Improved living standard of members through financial and other services with social security programs adopting innovative policies and advanced technologies based on international credit union principle.

Message from Chairperson

Dear Chandragiri Members:

I hope this message finds you all safe and sound in these unique and challenging circumstances.

It is an unusual time for all of us.  Our “new norm” will be much different going forward and we are considering how the SACCOS will be able to best serve its members in the months ahead.  For all of us, how we conduct business in the future will be very different. First, I want to express appreciation to each of you who have trusted Chandragiri Savings and Credit Cooperative ltd as your all-time financial institution.  It’s because of you that we have a solid foundation, allowing us to provide the unwavering financial products that you expect from us.

Second, and more importantly, we want to say thank you for your membership and for your loyalty.  Please know that our entire team is here for you as we navigate through this uncertainty.

Finally, we want to address the concerns you may have about the inability to pay your bills and make your monthly loan payments. Members experiencing financial hardships as a result of COVID-19 are encouraged to contact us to determine how we may be able to assist during this crisis.

 MR. Yogendra Kumar Kunwar

Chairperson

Commitment from CEO

Dear Members,

I hope that you are well and continuing to practice good health safety precautions during this difficult time.  For our part, I would like to assure you that Chandragiri SACCOS remains a solid and healthy financial cooperative institution with strong cash reserves. We have continued to welcome new members throughout the pandemic and all time our office remains open, while operating under prudent, protective restrictions.

Our Top Priority is Member satisfaction:

Our mission is improved living standard of members through financial and other services with social security programs adopting innovative policies and advanced technology based on international credit union principle.  If you aren’t aware, we survey our members regular basis, across a variety of interactions, to get immediate feedback on how we might improve your experience. We are delighted with our members that we are delivering excellent service to you, but we are always striving to improve.

Financial Strength and Stability

We are on track to close in on NPR 2 billion and 100 million in assets for our fiscal year ended July 15, 2020. As a reminder, our financial records are audited annually, this year by the external accounting firm of A. Shrestha and Associates.  They will report their audit results directly to our annual general meeting, and we expect the audit to run smoothly again this year.  Although COVID-19 has certainly had an impact on our business, we are seeing tremendous growth in mortgages and mortgage refinancing, as rates continue at historic lows. We are also seeing a resurgence in consumer loans such as auto, professional, and home equities. Please call or visit to see how we can help you with your borrowing needs in this excellent borrowing rate environment.

I always want to remind you that Chandragiri is a well-capitalized financial institution and is very capable of weathering this pandemic in service of our membership, and we have solidified our position as one of the most successful SACCOS of the state. 

Community and Cooperative Spirit

Pandemic or not, Chandragiri is always ready to help our community. During the outbreaks we have organized several blood donations programs. We provided rebate in interest of loan to COVID impacted borrowers. We facilitated to make members participation in Corona insurance. We have been providing emergency fund support to highly impacted members from coronavirus and paid the hospital bills in the hardship period. We toughed members various ideas to be economy in pandemic period.  Likewise, we supported the local and federal government by contributing Corona virus fund and provided some fund to National Innovation Center to encourage social activities.

Looking Forward

As we enter to new financial year of 2077/078, we have formulated the new Business Continuity Plan (BCP). The BCP is to ensure the continuity of Chandragiri SACCOS in the event of an unforeseen and prolonged crisis.  It will maintain responsible treatment of members and support to come up with measure to cope with the COVID-19 situation, minimize the risk of infection and ensure responsible treatment of employees and volunteers during the crisis and minimize the risk of institution in order to ensure business continuity during and after the crisis. Likewise, the BCP will help us to proactively communicate with all stake holders.

Our goal is to keep members happy and prosperous and businesses solvent and to protect their loans. When all of this is over, and new normal day will come, we want your financial health and safety to have been preserved. 

If you are facing financial hardship, please call us at 014313058 or 9801107880 before you get behind so that we can make a plan together. 

Thank you for your trust, patience and healthy habits.

Stay Safe, Stay Healthy.

Sincerely

Krishna Kumar Shrestha

Chief Executive Officer

Milestone

20

No. of Service Year

5

Awards

12872

Total Members

2527777659

Total Assets