Ministry of Health Employees Multipurpose Cooperative Society LTD.
FORGING AHEAD FOR BETTER SERVICE
SAVING SCHEMES
Present Program
MOHEMCS implements saving, credit and education programs.
Future Innovation
We need additional impetus to implement multipurpose activities such as more saving schemes, travel & tours and land & housing schemes. We also plan to establish a Senior Citizen Club for past and present members.
Institutional development
The core activity of MOHEMCS as a Primary Society is the platform for the implementation of many programs.
SAVINGS PROGRAM
Saving is the fundamental activity of the society and MOHEMCS gives the utmost importance to the mobilisation of our Saving funds.
BENEFITS & FACILITIES
As part of our Commitment to members Welfare,
the society offers the following benefits:
● Loan Ceiling: A maximum amount of Rs 800 000, subject to the terms and conditions of the society.
● Retirement Grant: A one- time retirement grant is provided to members upon reaching retirement age, as a gesture of appreciation for their commitment and contribution.
● Birth Grant: A Birth grant is offered once per child to support members upon the addition of a new family member.
● Death Assistance: Financial assistance extended to the family or Nominated relative of a deceased member in accordance with Society policy.
● Annual Interest:Interest is credited annually to all members’ accounts, based on the society’s declared rate and in line with audited financial performance.
● Recreational and team-building activities, including outings for staff members of all Regional Hospitals.
Future Plans
● Diversify Loan Products: e.g Introduction of Education Loan and Emergency Loan with tailored terms.
● Enhance member benefits: Welfare Fund: A pooled fund to support members during unforeseen crises
● Digitization and Technology Integration: To Check balances, application of Loans and to monitor savings.
● Member Feedback system: Surveys or suggestion boxes to guide policy improvements.
Your complaints & Suggestions would help us improve our services & better meet your expectations in the future.
The assets of MOHEMCS are :
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Building Head Quarters at 2nd floor, Mystic complex, Royal Road Candos comprising of 2984 sq feet with office facilities evaluated to Rs 5,500,000 as 30th of June, 2015.
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Office building at 18 La Colline Commercial Centre, Candos evaluated to Rs1,000,000.
Our Annual Turnover
Our annual surplus by 30 June 2024 was Rs 1 530 000.
In 2011 the loan ceiling has been increased from Rs 75,000 to Rs 140,000 with the ratio 1:4.
In 2012 the loan ceiling was Rs 200,000 with ratio 1:4.
In 2013, the loan ceiling was 300,000 with ratio of 1:4.
In a recent AGM the loan ceiling was proposed to Rs 400,000 and is under consideration by the Ministry of Cooperatives.
The repayment of loans is less than 1% of monthly interest on diminishing balance.