About Us

Vision

To build up an egalitarian society as one family based on the principles of cooperation where the virtues of justice, equality, freedom, fraternity, and peace are the living values of the people at the local, state and national level.

Mission

FAMCO will work with the poor, the marginalized, the vulnerable, the downtrodden, and the excluded communities and families through their groups/associations and by their participation and sharing. In this process, FAMCO will collaborate with Societies, Trusts, Associations, Companies, Cooperatives, and other Organizations which believe in the cooperative/development principles towards the empowerment of the people.

Rationale

This cooperative structure is based on SHGs making everyone in the group a member of the cooperative. The rationale behind this approach is to enable the individual families which are represented in the groups become a part of a wider network. Moreover, “each for all and all for each” is best achieved through well-formed groups that are not only self-helping but helping others through a network. SHGs also create a sense of belonging and family spirit in their cooperative enterprise.

Objectives

The objectives include both short-term and long-term concerns. The short-terms objectives are based on a three year vision, while the others are seen as continuous in nature. The major objectives of FAMCO are to:

•  Become a financially sustainable cooperative after five years, free from external funding requirements.

•  Provide debt swaps for the members, who are marginalized people stuck in the jaws of moneylenders.

•  Promote the interests of all its members to attain their social and economic betterment through self-help and mutual aid in accordance with the cooperative principles.

OUR ACTIVITIES

In 2009, Family Development Cooperative Thrift & Credit Society Ltd. (FAMCO) was registered as a Multi-State Cooperative Society under the Multi-State Cooperative Societies Act, 2002, with the Central Registrar of Cooperative Societies, New Delhi on 23.07.2009.

Families being the natural and basic structures of the society, the promoters of FAMCO have visualized the Development of Individual family members through their spirit of Cooperation first at the level of the Family, and to be extended at the level of the groups as well, and that of the nation at large.

Primary Objective:

The principal object of the Society will be to promote the interests of all its members to attain their social and economic betterment through self-help and mutual aid in accordance with the cooperative principles.

In all the 11 years as on 31.03.2020,totally Rs.10,43,35,000/- had been given as loans to 441 SHGs for 6814 families. The loans have helped the members to run self managed small business, school fees for children, redemption from high rate interest loans, agriculture, purchase of milchanimals ,goats,building house, house repair etc.

The Founder, 3rd Chairman and CEO

Founder:

Rev. Fr. A. S. Antonisamy was sent to Manila, Philippines for upgrading practical Social Leadership training by the Catholic Arch Diocese of Pondicherry- Cuddalore during the year 1977-78. He had undergone a 7 months training at the South East Asian Rural Social Leadership Institute (SEARSOLIN), Cagayan De Oro City, Manila, Philippines. The training had a very great impact on the work of Fr.Antonisamy throughout his innovative initiatives.

Mr. G. Boniace Julian, 3rd Chairman, FAMCO:

Mr.Boniface Julian had a very long association for 41 years with Rev.Fr.A.S.Antonisamy, Founder, FAMCO. He was sent to Bangkok, Thailand, for Credit Union Leadership Training in 1983. Also he was sent in 1987 to Coady International Institute,St.Francis Xavier University, Antigonish, Nova Scotia, Canada for a 6 months training on Social Development. Due to his ill health, he completed the one month Foundation Course and returned back. He had been a great Resource Person for motivating and training the village leaders.

Mr. M. Aloysius, CEO, FAMCO:

Mr.M.Aloysius was an efficient trainer and motivator of rural masses for more than 12 years. In the year 1990, He was sent to Coady International Institute, St.Francis Xavier University, Antigonish, Nova Scotia, Canada, for a 6 months training on Social Development. He finished the course successfully and came back. In the year 1993, he was sent to Berlin, Germany, for a seven weeks Project Management Course at the “Deutsch Stiftung for International Entwicklung”, Berlin, Germany. He finished the course successfully. Both the courses were sponsored by the “Deutscher Caritas Verband” ( Caritas Germany), Freiburg, Germany. The trainings were very useful in organising the Rural Poor under different groups for the promotion of self help and mutual help for sustainability.

At a Glance

Founded on July 23, 2009

Authorised Share capital : Rs.One Crore (1lakh shares each valuing at Rs.100/-)

Liquidity: INR.165.85 Lakhs (31, March, 2020)

Total Members :433 (111 Individual Members, 322 SHGs)

Total Loans given:  Rs.10,43,35,000/-

Total Beneficiaries:  441 SHGs ( for 6814 families.)

Areas of Operation: Pondicherry (UT), Tamil Nadu & Karnataka

Employees: 3 + 15Volunteers

Founder: Rev. Fr. A. S. Antonisamy

Original Promoters:

  • S. Sivaprakasham
  • Fr. A. S. Antonisamy
  • Fr. K. Xavier, SJ
  • G. Francis Xavier
  • G. Boniface Julian
  • P. F. M. Tagore
  • M. Abdul Majeed

FAMCO collaborates with the State,Central Government,national and international cooperative bodies and philonthrothic bodies.