Bachan Saving and Credit Co-operative (SACCOS) Ltd. is a primary Cooperative registered in 2008 at the Division Cooperative Office, Government of Nepal under the Co-operative Act, 1992. The philosophy of this organization is that owners and beneficiaries are the same on the basis of democratic practice; membership is voluntary, persuading empathy, mutual respect, self-help, and one member one vote. The Cooperative was founded for the purpose of helping small entrepreneurs and uplifting the socio-economic growth at the micro-level of its affiliated members to fight against poverty, economic & social crisis, and natural disasters. The slogan of the organization is “Our promise is safety savings and return profit” stated the Founder and Chairman Associate Professor Laxman Mohan Dhoj Joshi.
The Cooperative was established in order to formulate capital through small savings, and reserve funds after returning benefits to the members and generating self-job employment opportunities among the members. This Cooperative is different from others because members of the World Without Anger (WWA) are eligible to become members of the Bachan SACCOS. The Bachan SACCOS can offer members and spread its works nationwide. The institution is operating under the values and principles of Co-operative as stated by the ICA (1895).
Bachan SACCOS is the direct involvement of the members, employees, board of directors, and annual general meeting. The core objective of the Cooperative is to collect small savings and capital from the members and extend loans to members at reasonable rates of interest and provide financial services to its members. The establishment of the Cooperative is to develop members’ cultural, social, and economic aspects in Nepalese society.
It was established with the participation of people from various fields such as professors, teachers, farmers, artists, private and government sector employees, traders, researchers, economists, business persons, bureaucrats, lawyers, bankers, social workers, health workers, farmers and different sector individuals of its community.
This Cooperative hopes and believes that all the members associated with this organization will actively support and participate equally being dedicated to the rights and interests of members and society in general. It is strengthening cooperative capacity in several domains such as government, financial management, business management, and community and stakeholder engagement should be a significant component of the cooperative formation process.