Rajagiri Valley Credit Union
Rajagiri Valley Credit union (RCU) is a member-owned, not-for-profit financial cooperative society that provides savings, credit and other services to its members. Credit union membership is based on a common bond, a linkage shared by savers and borrowers who belong to the regular employee list of Rajagiri School of Engineering & Technology, Kochi. RCU pools their members' shares to finance their own loan portfolios rather than rely on outside capital. Members benefit from higher returns on savings, lower rates on loans and fewer fees on financial services. However, services other than financial are extended to all staff members of RSET.
Governance:
Credit union members elect a volunteer board of Executive Members from their membership. Members each have one vote in elections, regardless of their amount of savings or shares in the credit union.
Executive Committee Structure:
- Chief Patron: Director (ex officio members)
- Patrons: Principal/Vice Principal (ex officio members)
- President
- Vice President
- Secretary
- Joint Secretary
- Treasurer
- Representatives from all academic departments, Office and technical staff members
- Savings as shares of RCU
- General Loan
- Hospitalization Loan
- Group Medical Insurance for family of each member
- Subsidised Medical Check-up for family of each member
- Blood Donation Camps
- Medical Check-Up camps (General, Eye, Teeth, etc.)
- Staff Recreation Activities, Family Get Together, Staff Get Together, Staff Trips
Single Share Value: Rs.10/-
Maximum Number of Shares for a Member: Equivalent to Rs.150000
Interest on Shares: 5 % (which is higher than Savings Bank interest)
Maximum Loan (General) Amount: 4 times of total share amount, limited to maximum Rs.200000/-
General Loan Interest: 7.5%
Tenure: Maximum 48 months
Maximum Loan (Hospitalization) Amount: limited to maximum Rs.400000/- with Loan Interest 4%
Tenure: Maximum 60 months
Events Organised
| Sl No. | Title | Date | Organiser | Description |
|---|---|---|---|---|
| 1 | Solar Energy @ Home | 28-Jan-2023 | Rajagiri Valley Credit Union in association with BSS Green Life | |
| 2 | Blood Donation Camp | 3-Dec-2021 | Rajagiri Valley Credit Union in association with Rajagiri NSS Unit | Blood Donation Camp with IMA Kochi in association with HDFC Bank. |
| 3 | Free Vaccination Camp | 8-Oct-2021 | Rajagiri Valley Credit Union in association with Rajagiri NSS Unit | Rajagiri School of Engineering & Technology, Kochi is conducting a free vaccination camp on Friday, 8th October 2021 for students and staff as part of the ‘Covid-19 Vaccine Challenge’, an initiative of Shri. Hibi Eden MP. The first and second doses of Covishield will be available (second dose for those who completed 84 days after the first dose). Students and members of staff are requested to register at the following link https://tinyurl.com/vaccinechallenge |
| 4 | Onam celebration of RSET Staff Community | 17-Aug-2021 | Rajagiri Valley Credit Union in association with RSET | Onam celebration of RSET Staff Community will be conducted by Rajagiri valley Credit Union on Tuesday, 17th August 2021 from 10.30 am at Chavara Hall. |
| 5 | Bitter Gourd Distribution | 2-Aug-2021 | Rajagiri Valley Credit Union | Distribution of Bitter gourd |
| 6 | Bitter Gourd Distribution | 19-Jul-2021 | Rajagiri Valley Credit Union | Distribution of Bitter gourd |
| 7 | Covid-19 Vaccination Camp | 30-Jun-2021 | Rajagiri Valley Credit Union in association with MAJ Hospital, Edappally | A vaccination camp dedicated only to Rajagiri people. Any person having 18+ age can avail of this facility. |
| 8 | Njattuvela -2021 | 24-Jun-2021 | Rajagiri Valley Credit Union in association with NSS Unt Rajagiri and HDFC Bank | Planting different varieties of trees in our campus like Mango, Jackfruit, Sapota, etc. |
| 9 | Christmas & New Year Celebrations | 17-Dec-2020 | RSET in association with Rajagiri Valley Credit Union | Christmas & New Year Celebrations of 2020 |
| 10 | Colgate Dental Camp | 10-Jan-2020 | Rajagiri Valley Credit Union in association with NSS RSET | Colgate Dental Camp for all Rajagirins with compliments like Tooth brush, tooth paste, etc. |
| 11 | Eye Check-Up Camp | 10-Jan-2020 | Rajagiri Valley Credit Union in association with NSS RSET | To find eye problems and to maintain good habits to avoid eye diseases in association with The Eye Foundation, Kochi. |
RCU Activities Timeline
RCU Activities in 2019
RCU Activities in 2018
RCU Activities in 2017
RCU Activities in 2016
RCU Activities in 2015