Buldana Urban Cooperative Credit Society

Content sourced from Wikipedia, licensed under CC BY-SA 3.0.

Buldana Urban Cooperative Credit Society, formed on 15 August 1986 in Buldana, Maharashtra, is a large cooperative financial institution serving central and western India across four states. It began under Chairman Radheshyamji Chandak with a small capital of about $210 and 72 members. Today, under Managing Director Sukesh Zamwar, it has grown to about 700,000 members, 333 branches, and around 5,000 employees.

The society offers a wide range of financial services, including consumer and corporate banking, housing, vehicle, education, warehouse and infrastructure finance, gold loans, investment and wealth management, savings, credit cards, and general and life insurance.

It runs a sizable warehousing business with about 300 warehouses, totaling 5,000,000 square feet of built-up area and a capacity of 435,000 metric tons.

To serve customers, BUCCS uses a core banking network, data center, online banking, debit cards, internet banking, and mobile banking with real-time money transfers. It also operates a mobile banking van to reach unbanked people and has a doorstep service with Yes Bank called Nano Teller, enabling deposits or withdrawals up to ₹10,000.

Financial snapshot (2013): revenue about ₹64.8 billion (US$770 million) and net income about ₹516 million (US$6.1 million).