The ICA welcomed four new members in October: Fana Youth Savings and Credit Primary Cooperative Society with limited Liability (FY SACCO) from Ethiopia, Pride Multi State Credit Cooperative Society Ltd. from India, and One-Cooperative Federation from the Philippines all joined as Full Members, while National Urban Cooperative Finance and Development Corporation Limited (NUCFDC) from India joined as an Associate Member.
FY SACCO enables sustainable investment and development to reduce poverty in Ethiopia, aiming to contribute to a stable and strong social base in the country. With 23,000 members and assets of ETB 1.861 billion, its services include savings and loans, cooperative concept training, financial literacy, financial inclusion, business development training, entrepreneurship training, consulting, research and development, life skills and employability training.
FY SACCO has joined the ICA as a Full Member to access networking opportunities, reach new partners’ knowledge, stay current on trends, access resources and global decision making, strengthen the co-op movement, and collaborate and contribute to the success of the UN Sustainable Development Goals.
Pride Multi State Credit Cooperative Society Ltd. serves 104,875 members across 16 Indian states. Via its 42 branches, Pride Multi State Credit Cooperative Society Ltd offers a range of services including savings accounts, deposit schemes and loans, to farmers, professionals, traders and entrepreneurs.
Since its inception in 2013, the cooperative’s mission has been “to promote thrift and create a source of credit for provident and productive purposes”.
Pride Multi State Credit Cooperative Society Ltd. has joined the ICA as a Full Member to understand the trends in the co-op movement and to contribute to the common cause of cooperation.
One-Cooperative Federation from the Philippines is a secondary co-op with 71 primary cooperative members representing 455,000 individual members. It is focused on providing lower interest rates on loans for member co-ops’ monetary requirements, consultancy, and brokering of their members’ products and services.
The cooperative also provides its members with both mandatory and specialised training, to develop skills and knowledge in managing the cooperatives.
One-Cooperative Federation joined the ICA as a Full Member in order to build partnerships with national and international cooperatives for the development of the co-op movement in the Philippines, share best practices and access more information and resources.
NUCFDC is a recently formed umbrella organisation for Urban Cooperative Banks (UCBs) in India. Serving 124 UCB shareholders, NUCFDC’s mission is to strengthen India’s UCB sector through support, governance, and enhanced IT and digital capabilities, to help them face competition and contribute to the nation’s economic and social growth.
Its vision is to build a strong foundation that drives the healthy growth of the UCB sector, leveraging digital and emerging technologies to offer the full suite of banking related systems and services, to position UCBs within a competitive digital financial landscape.
NUCFDC hopes that its membership in the ICA as an Associate Member will provide it with the platform to reach out to other members and seek their guidance.
The ICA now has 325 member organisations from 106 countries, of which 281 are Full Members and 40 are Associate Members.
