About us
In 1975, few officers in shillong Regional Office had decided to start a thrift & credit society for the officers in north east. On 10th September 1975, the State Bank of India Officers’ (Shillong Region) Thrift & Credit Co-operative society was born. A great welfare initiative for officers was started for officers under Shillong Regional Office. Once the North Eastern Circle was created, the membership was extended to the whole of North East.
The society made a very humble beginning with ten rupees a month contribution for each member as thrift fund. The journey started with 35 members and the society never looked back. The membership strength increased every year from then on. The society started with a small paid up capital of 12 thousand in 1976. By the end of the year 1976, the society had a portfolio of Rupees 77 thousand of deposit and 82 thousand of loans.
The society played a big role to provide great relief to members to meet their emergent financial requirement. This was the only source of officers for emergency fund till the bank came forward to provide personal loans to officers. The society started with few hundred rupees as loan amount to members. Now, the Society in addition to continuing to accept thrift fund is also providing substantial amount as emergency loan, housing loan etc. The society as a good gesture and acknowledgment of the contribution of the members in building up the society, has started a benevolent fund for payment to the members on superannuation and to the family in case of untimely demise of any member.
The society, like any other financial organisation in the world also had undergone through trying times, but has reached to the present level with the continuous support and contribution of the members. The society keeping in line with computerisation of the bank branches also computerised all books, records and accounts of the society during 1999. Now the society is moving to the next level, by going on-line to keep pace with the time and need of the members. To start with, the website will provide limited facilities for on-line checking of balance, Generate Interest certificate and downloading of forms. In the days to come more facilities shall be made available on-line by the Society.
The Society look forward to you for your continuous patronage and support to take it forward for the future generation of officers in the bank.