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About NEFSCUN

Nepal Federation of Savings and Credit Cooperative Unions Ltd. (NEFSCUN), the member based national apex organization of Savings and Credit Cooperative Societies (SACCOS) and their District Unions (DUs) is committed to the development, promotion and strengthening of its member organizations through supporting SACCOS and DUs in their aim to contribute for the uplifiment of financial, social cultural aspiration of individual members of respective community. NEFSCUN follows the credit union principles propounded by World Council of Credit Union (WOCCU) in 1984.

EVOLUTION

In fact, initially, the concept of formal credit union was not realized in Nepal. During 1987, the Association of Asian Confederation of Credit Unions (ACCU) appeared as an angle of credit unions to provide technical support with a seminar on the “Importance of Savings” for the representatives of spontaneously formed informal savings and credit groups in different part of the country. After this, the need

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Latest NEFSCUN Notice and News

Interest Rate Change of Interlending

CFFI Interest rate had been changed and effective from 2071/4/1......

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Price Revised Necos Plus Software
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NEFSCUN MIS System

NEFSCUN had developed the MIS (Member Information System) for its affiliated DU's and SACCOS Member to submitted the individual SACCOS Profile, Organization Structure and Financial Information through online by log on.....

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Last Week Activities

National Workshop Concludes Separate Act for Financial Cooperatives

Nepal Federation of Savings and Credit Cooperative Unions Ltd. (NEFSCUN) organized National Workshop on Separate Financial Cooperative Act, 30 May 2014 in Kathmandu.

140 participants from the ministries, Department, Central Bank, Cooperative Federations, Division offices and Credit Unions leaders raised and identified the issues and solutions of the financial cooperatives for its growth and development. Mr. Paritosh Paudyal, General Secretary, NEFSCUN presented a paper on proposed credit union act to the members of parliament Around 45 members of constitutional assembly express their commitment to approve the separate act for financial cooperatives from the house of representatives but the effort should be made through related ministry.

The workshop concluded prompt lobby and advocacy for the promulgation of Credit Union Act provisioning risk-based supervision and stabilization fund, good governance, counting of financial inclusion, coordination with the government for the development of regulatory framework and promotion of agro-based productive investment through credit unions.

In Nepal, more than 30,000 cooperatives registered and among them 60% cooperatives providing financial services within the members. Due to the lack of specific Act to regulate their financial activities and keep them into a discipline, NEFSCUN initiated the event organization with the support of European Union, UK Aid and Mercycorps Nepal.