Membership Relief Program

Membership Relief Program

Aarthik Bikash Mitra Savings and Credit Cooperative Limited has implemented a Membership Relief Program for its members. This program provides financial assistance in cases of accidents, serious illnesses, and death. To participate in the Membership Relief Program, members must have a minimum of Rs. 1,000 in shares and Rs. 2,000 in the member welfare fund, and they must have been a member for at least 6 months from the date of membership. The following programs are currently being conducted in the institution.

Member Death Relief

In the event of a member’s death, a relief amount of Rs. 15,000 is provided. This assistance helps the member's family with financial support during a difficult time.

Family Death Relief

If a family member of the member passes away, a family death relief amount of Rs. 7,500 is provided. This assistance helps the member reduce the financial burden during a period of mourning.

Complex Disease Health Treatment Expenses

For members suffering from complex diseases such as cancer, heart disease, kidney issues, brain tumor, spinal injuries, and mental disorders, financial assistance of up to Rs. 7,500 is provided for treatment. This facility is available after the member has incurred Rs. 15,000 in treatment expenses. This benefit also covers the member’s spouse and children.

Maternity Expenses

Financial assistance is available for maternity expenses for pregnant women. A total of Rs. 2,000 is provided, with Rs. 1,500 given directly to the mother and Rs. 500 used to open a piggy bank account for the newborn. Additionally, members must have completed 9 months from the date of membership.

Reasons for Ineligibility in the Membership Relief Program:

  • Members who do not regularly contribute to savings will be ineligible for the program.
  • Members who do not make regular loan payments will not be eligible for program benefits.
  • Members who have not completed 6 months from the date of share membership will not be eligible.
  • Members who have not contributed to the institution’s relief fund will not be able to participate in the program.