If anybody wants to start a co-operative credit society, firstly you have to check the state wise rules and regulation of the co-operative credit society. All most, every state have own rules and regulation. Now a day co-operative credit society is use the software for their work will be easy and this software known as Pat sanstha software, employees co-operative credit society, Gramin bigar sheti society, etc. In this article, we have seen the process and procedure of registering a society.

     Any cooperative society has to registered society under in Maharashtra cooperative society act as 1960. For registration member or who want to open co-operative credit society should first apply for the name reservation and then for the registration of cooperative societies. When a society was registered then this registered cooperative society has to submit its bylaws to the registrar approval. A cooperative society has to work as per bylaws. The Registrar has the power to de-register societies under MCS Act 21 / A for registration of any co-operative society.

The actual way of co-operative credit society:

1. Certificates of the bank declaring the credit balance are in support of the credit unions concerned.
2. Every state must have minimum 50 members.
3. Board member should be at least 7 and maximum 21.
4. Promoter members name and list.
5. All copy and all details of the pre-registration meeting judgment. That includes the board, members, the capital, and the operation etc.
6. Details of head office address to be registered.

Following are the main and detail steps of registration process of cooperative credit society.

1. Applicant applies for name reservation cooperative credit society and account opening and submits the form to the respective registrar as per the area.
2. Chief promoter is opens an account in permitted bank and getting the balance certificate as per the policy for the type of society.
3. Then the proposed societies fill the registration form and submit the required documents to the respective registrar office.
4. When verification is completed of submitted documents and application. The respected registrar either approved or rejects the application form of the proposed society.
5. If there are improper or missing supporting documents, then the applicants are requested to registrar for a specific time period.
6. In case the registration form filled by the respective registrar and sent to the government mantralaya. Once the documents are verified and satisfied, the Registrar issues a notification of registration and registration certificates to the proposed society. Also, the by-laws of the proposed society are approved and registered as per the MCS act 1960.

Important note for the applicant:

     If no action is taken by the concerned registrar for a period of 2 months after receipt of the registration application, the society will be deemed registered and issuance of registration certificate will be mandatory to the concerned registrar. This process is called deemed registration.

Applicant along with necessary documents to the respective office:

1. Respective office like taluka office, district office, and division office verifies application and all documents.
2. Once all process is done means that all verification of document is ok and the registrar is ok with all documents. Registrar issues certificate.
3. Accompanied by denial of registration. For this reason the main promoter has to be informed.

Issuance Criteria1: Registrar gives registration institute and certificate.

Advantages of credit co-operative society

1. Cooperative shops supply quality goods compared to other shops in which adulterated food will probably be given to your customers and this will save them from adulteration and other malpractices.
2. Being the owner and manager of such a store, a customer or a member of the society can meet the genuine needs of the majority of the customers. In other words, essential items are always transacted through such stores by most customers or members of the community.

Disadvantages of Cooperative credit society

1. Management of society usually rests in the hands of people with less managerial experience due to which society will suffer and many do not invest in hiring professionals to handle the society because lack of funds or interest so henceforth growth of the society maybe put to stake by its own members.
2. It is limited to certain objectives so, profits are minimal.
3. There is much dependence on the honesty, integrity and loyalty of members and workers and once there are trust issues between the members then it is hard to transact business.