Kathmandu, Sept 2: Nepal’s number one Savings and Credit Cooperative, VYCCU, has obtained international ACCESS branding for its excellent service and security.
The ACCESS branding stands for A1 Competitive Choice for Excellence in Service and Soundness is a key tool to institutionalize the Savings and Credit Coopeartive Organizations.
The cooperative organization based in Gaindakot VDC-8 of Nawalparasi clinched this success after it excelled in different 86 indicators set by Association of Asian Confederation of Credit Unions (ACCU).
“ACCU granted the branding based on their two-year-long assessment of VYCCU’s performance on four areas of fiscal capability, member service, internal management and up-scaling of learning and institutional growth as well as financial audit, said VYCCU Chairperson Hari Lal Sapkota.
The branding will be conferred on VYCCU amid an ACCU Forum to take place in Bali of Indonesia from September 17-21.
VYCCU has been rated Nepal’s best performing savings and credit cooperative in the assessment of Nepal Federation of Savings and Credit Cooperative Union So far, (NEFSCUN).
So far, Nepal’s only five cooperative organizations affiliated to NEFSCUN have already received the ACCESS branding developed by ACCU to boost the performance of savings and credit cooperatives.
The VYCCU Savings and Credit Cooperative, which was initiated with a campaign of collecting 50 paisa a day from 26 members, now has more than 13,000 share members, said VYCCU manager Madhav Prasad Poudel.
The cooperative organization has received several national and international awards for its excellence in service and soundness.