NCF grants associate membership to Sahara and Mechi Cooperatives

Kathmandu : The apex body of Nepali cooperatives, the National Cooperative Federations (Nepal) has awarded associate membership to two primary cooperatives.

The board meeting of the NCF held on Thursday came up with the decision to grant associate membership to the Sahara Nepal Savings and Credit Co-operative Society of Charpane, Jhapa and Mechi Multipurpose Cooperative Society of Damak.

Sahara Nepal has more than one hundred sixty thousand members and 445 employees. It has the total assets over 10 billion rupees. Likewise, Mechi Cooperative has thirteen thousand five hundred members and asset of 4 billion rupees.

As per the NCF procedure 2078 related to membership, associate membership can only be granted to primary cooperative organizations with a total capital of more than one billion. The NCF boasts of 311 members at present.