1. Voluntary and Open Membership: Cooperatives are voluntary organizations, open to all people able to use its services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.


2. Democratic Member Control: Cooperatives are democratic organizations controlled by their members those who buy the goods or use the services of the cooperative who actively participate in setting policies and making decisions.


3. Members' Economic Participation: Members contribute equally to, and democratically control, the capital of the cooperative. This benefits members in proportion to the business they conduct with the cooperative rather than on the capital invested.


4. Autonomy and Independence: Cooperatives are autonomous, self-help organizations controlled by their members. If the co-op enters into agreements with other organizations or raises capital from external sources, it is done so based on terms that ensure democratic control by the members and maintains the cooperative's autonomy.


5. Education, Training and Information: Cooperatives provide education and training for members, elected representatives, managers and employees so they can contribute effectively to the development of their cooperative. Members also inform the general public about the nature and benefits of cooperatives.


6. Cooperation among Cooperatives: Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures.


7. Concern for Community While focusing on member needs, cooperatives work for the sustainable development of communities through policies and programs accepted by the members.

 

The Bank provide services to its members and thus enable them to attain increased income and savings, investments, productivity, and purchasing power and promote among them equitable distribution of net surplus through maximum utilization of economics of scale, cost-sharing and risk-sharing without, however, conducting the affairs of the cooperative for eleemosynary or charitable purposes.

As a cooperator, the Bank shall provide maximum economic benefits to its members, teach them efficient ways of doing thing in a cooperative manner, and propagate cooperative practices and new ideas in business and management and allow the lower income groups to increase their ownership in the wealth of this nation.

"banking" means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawal by cheque, draft, order or otherwise

As a Banker, the Gandhi Co-operative Urban Bank Ltd., fulfill all the objectives specified by the above definition, accepting all types of Deposits from the public and lending to the lower income groups and following all regulations issued by the Reserve Bank of India (the Central Bank of India) from time to time and help the public in their economic growth.

 Ch.Apparao

(Chief Executive Officer)