Cooperatives are community-based,
member-centered business cooperative that operates under the jurisdiction of
all three federal units of Nepal. The present constitution of Nepal has recognized the
cooperative sector as one of the three pillars of economic development.
Cooperative organizations are of different nature based on the purpose of
establishment, nature of work and scope of work.
Bagmati Province Federation of Savings
and Credit Cooperative Union Ltd. (Bagmati PROSCUN) was established based on
legal provisions that can be registered and operated at the state level as an
umbrella association of cooperative organizations operating with savings and
credit related economic activities as the center. It was formally registered on
13th Shravan 2077, according to Section 6 of the Cooperative Act, 2074 and
Section 6 of the Bagmati Province Cooperative Act, 2076, the association has
been duly registered with the Bagmati Province Government, Ministry of Land
Management, Agriculture and Cooperatives. Since then, the federation has been
conducting its activities following the cooperative norms, values and
principles.
As a leading federation of the
provincial network of the financial cooperative movement, the federation has
expanded its service area to 13 districts and 119 local levels within Bagmati
province. In its first strategic plan, the association is conducting activities
under the four-pillar medium-term plan, namely member-centric activities,
organizational development, social responsibility and institutional
sustainability.
In order to improve the financial
situation of the member organizations, the association is providing savings and
credit facilities at competitive rates and ensuring member security through
financial literacy, financial empowerment, training and education. This
federation is also conducting a quality assurance program namely Cooperative
Self-regulation Program for Organizational Sustainability and Institutional Services
(COSIS) for quality assurance and self-regulation capacity enhancement. It is
playing a role as the leading association of the province for the empowerment
of the cooperative movement through continuous advocacy for reducing the risk
of the members and managing the grievances.