VYCCU Savings and Credit Cooperative Limited is a primary-level single-purpose cooperative organization (working in the field of saving and credit). While adhering to the international credit union principles, it is engaged in collecting savings from its members, providing a definite interest on the savings and providing loans to its members on easy interest rates, thereby working towards social security and transformation.

This organization came to life on the 5th day of Bhadra, 2048 under the initiative of Vijay Development Resource Center (then Vijay Youth Club), wherein 26 members of the club got together with the slogan “Saving is the Seed of Development” and the programme kick-started with each member contributing 50 paisa a day to the organization.The prime motive of this organization was to set this society free from widely prevalent poverty, illiteracy and addiction by encouraging the habit of saving and to utilize the collected amount through its members for the promotion of various social enterprises. After it obtained permission from Nepal Rastra Bank in 2054 for limited banking activity, it has been successful in attracting more investment and in providing better services.

Alongside financial activities, the organization has always been active in bringing about positive changes in the lifestyle of its members by being engaged in non-financial and social transformation programmes. Due to its diversified activities, it has been able to receive Best Cooperative Award from the Division Cooperative Office Nawalparasi, Western Zone Regional Best Cooperative Award from Nepal Saving and Credit Central Cooperative Association and even Nepal’s Best Saving and Credit Cooperative Award. Besides this, Mix Market, the worldwide network of micro finance, has conferred it a five star status.

By being able to be the first choice of the community through it competitive, qualitative and easily-accessible financial and non-financial services to its members, this organization is currently working through 24 service centers, equipped with ultra-modern software and ABBS service. Guided by the principle of providing services through latest technology and equipment, it has recently started SMS banking and SCT service whereas customers can withdraw money by swiping their ATM cards in any bank in the country using SCT network. With a view to institutionalize the capacity and the quality of service provided by the cooperative to its customers, it took part in the ACCESS programme conducted by Nepal Saving and Credit Central Cooperative Association in technical association from Asian Credit Federation, and has been able to obtain the ACCESS Brand.

Membership: There are currently 1,22,159 members in this organization and the process is still on. 49.98 percent of the members are female while 50.02 percent account for male members. 850 members belong to the landless group and there is the representation of Kumal, Darai, Tharu, Bishwakarma, Gurung and Magar communities. It has a cash deposit of more than 8.34 billion at present.

The organization makes its financial indices public through website, annual report, educational camps, public account auditing and radio programmes and it also follows good governance and transparency by adopting the policy of barring its chairman and his family members from taking loans.

Through 59 different policies and procedures, the organization has been run and guided by policies rather than by individuals.

It currently has the representation of members from 1 Metropolitan, 5 Municipality and 4 Rural municipality and is currently engaged in the task of leadership development by setting up administrative sub committees at the local levels.