SSCCSL’s delivery model is member based and savings driven. It is mandatory for each member to keep saving throughout the membership period. To ensure regular savings, field officers do regular follow ups with all the members of the co-operative.
Members become eligible for availing loan with a joint liability group (JLG) in the first cycle after a minimum saving of INR 200 for three months. On availing loan, a member purchases shares of the Cooperative and becomes its shareholder. The JLG is formed by 4 to 6 members from the same area and takes responsibility for all members of the group. Loan to such JLG ensures repayment of the loans on time. This approach has resulted in a very low default rate of less than 4%.
SSCCSL is a forward looking organisation. Having put Tab Banking in place It is now planning to adopt the mobile finance system (whereupon field officers, managers as well as members will be able to use mobiles to carry out various process related functions) in order to efficiently use the time and effort of its resources.