23-May-2025

Malankara Credit Society Secures Prestigious ICA Membership

Malankara Credit Society Limited has officially been granted membership in the International Cooperative Alliance (ICA) — a significant milestone in its journey of growth and global recognition. Founded in 1895, the ICA is one of the world’s oldest and most respected non-governmental organisations, bringing together cooperative institutions across the globe to advocate for their rights and interests, foster collaboration, and provide a common platform for sustainable development.

This prestigious membership elevates Malankara Credit Society’s credibility on the international stage, enhancing its standing among financial cooperatives worldwide. As an ICA member, the Society can now explore opportunities to access global funding sources at competitive interest rates, further enabling its members to benefit from affordable and inclusive financial services.

The ICA membership also strengthens the Society’s capacity to scale operations across India, opening doors to strategic partnerships, technological collaborations, and best-in-class practices from global cooperative peers.

The growth journey of Malankara Credit Society has been nothing short of remarkable. In 2019, the Society had a modest base of 532 members. However, with the dynamic leadership and visionary guidance of promoter Dr. Boby Chemmanur (affectionately known as 'Boche'), the institution has experienced exponential growth. In just five years, the membership has surged past 100,000. The Society now operates 30 branches across Kerala, Tamil Nadu, and Karnataka, employs hundreds of staff, and has reached an impressive business volume of 900 crore.

Malankara Credit Society offers its members a range of attractive deposit schemes, with flexible tenures ranging from 30 days to 25 years, and a variety of loan products designed to meet the diverse needs of individuals and businesses.

This new international affiliation marks a major leap forward in the Society’s mission to deliver trustworthy, people-centric, and future-ready financial services, while staying rooted in the cooperative values of inclusion, transparency, and shared prosperity.