About Us

To cater the needs of the Employees of The New India Assurance Company Limited.

The New India Assurance Employees’ Co-operative Thrift and Credit Society Limited registered No.X-413 was formed in the year 1959 and got registered under Madras Cooperative Society Act 1932 with 43 members and the area of operation was Madras City only. Later on, in the year 1974 our Society converted as a Multi State Cooperative Society under the  Multi State Cooperative Societies Act IV of 1942 on 19.06.1974.  The rules were framed as per Multi State Cooperative Societies Act 1984. Then membership spread over the Southern States namely Tamil Nadu, Andhra Pradesh, Karnataka, Kerala and Union Territory of Pondicherry were brought under the said Act from 1984. During this Period Slowly and Steadily our membership grew up from 43 members to 1403 members as on March, 2024. Now, our Society is functioning under the  Multi State Cooperative Societies   (Amendment) Act 2023.  The society borrowed funds from Chennai Central Cooperative Bank Limited to meet out the members requirement for Surety Loan.  Today our Society is a “A” class society providing Surety Loan to members with Lowest Interest rate and when compared to other societies in India we pay Highest Dividend of 20% on Share Capital from the year 2019-2020 to till date. The number of Board of Directors managing the affairs of the society at present is Twenty-One.

JOINT TODAY - GROW WITH US

1. Hassle Free Loan Disbursement
2. Continous Profit since Inception
3. Lowest Interest on Surety Loans
4. Highest Dividend on Share Capital
5. Benefits under Family Welfare / Member Welfare Schemes