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.

Eye camp for all staff & students

Group Medical Insurance MoU.

Staff Trip

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

Services

• 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

RCU Activities Timeline
RCU Activities in 2019
RCU Activities in 2018
RCU Activities in 2017
RCU Activities in 2016
RCU Activities in 2015

Contact Details:
    President: Mr. Jobin Jose
    Secretary: Mr. Jithin P N
    Treasurer: Mr. Jinoy Abraham