The Credit Co-operatives provide various support services along with credit and institutional framework to design and deliver products/services as per the requirements of the self-employed poor women in informal sector of the economy. With nationalized banks not fitting the bill, SEWA came forward with 'a bank of our own' called 'The Shri Mahila SEWA Sahahkari Bank Ltd.' in May, 1974.
Initially, it had four thousand members of SEWA contributing to a share capital of Rs.10 each, but today the number has increased manifolds.
The Bank mainly caters to women with an average monthly income of Rs. 1500 and with an average household income of Rs. 3000 per month. The Bank provides a range of services which includes short and long term saving options, pension schemes, loans and insurance products, financial counseling, business counseling, for self-employed poor women. It also provides training programs to increase financial literacy and awareness in its members.
By the end of year 2010, the Bank had over 89,000 account holders with a total working capital of Rs. 115 Crore Approximately. (March, 2009).
In 2006, two credit Co-operatives were registered in slum areas of Surat and Vadodara cities of Gujarat. The main aim for these registrations was to facilitate the slum dwellers to acquire financial services and loans for housing. SEWA has three Credit Co-operatives for:
- Credit Co-op