The idea of starting this Co-operative Credit Society was conceived by group of employees of Power Project Engineering Division, way back in December, 1977. In fact the first informal meeting to discuss formation of the society was held on 16th December, 1977 under the chairmanship of Shri A.P. Deshpande.

After 6 months of preliminary spade work and series of meetings with registering authorities, and consultation with department and members, final application for registration was put up on 22 March, 1978. Following were 15 promoters of the society. S/shri V R Kulkarni, S Subraman, M B Ratnanavar, N Padmanaban, A P Deshpande, T P Pally,  V S Gore, N R G Rao, P K Ramakrishna, D S Kamble, R V Shetty, J M Salgaonkar, R Y Apte, N Krishna Moorthy & Smt. P R Parvathy.

Membership during the first year itself rose to 315 from 215 which was the figure at the time of registration. Today Society membership is 2900. Initially single loan of Rs. 250/- was available to members, it increased step by step and today we are disbursing Rs.100000/- Ordinary Loan to the members. During this evolution, society has not only increased the loan amounts but also introduced many types of loans. It started with Ordinary Loan then addition of Special Loan then Emergency Loan then Silver Jubilee Loan and recently introduced Loan Against Deposit. Today we are disabusing Emergency Loan Rs. 25000/- @ 11% Int., Ordinary Term Loan of Rs 100000/- @ 9% Int., Special Loan of Rs. 500000/- and Silver Jubilee Loan of Rs.850000/- @ 10% Int. In addition to provision of this loan facilities to needy, society also provides Fixed deposit, Monthly Income Scheme and Recurring Deposit schemes to the members who are interested in investing money with good returns.  

We have been consistently able to distribute dividend of maximum permissible limit of 15% along with handsome interest on Subscription Deposits which itself speaks of the healthy condition of the society. This was achieved due to sheer hard work and dedication of many Managing committees during last 35 years.

Meanwhile, the organisation also underwent dynamic changes from PPED to NPB and then as NPC. This dynamism indirectly resulted influencing Managing Committees, which went out of way and brought in various schemes for members. First such scheme to be launched was ECTV wherein more than 700 Color television were distributed during         1986 –88. As a result of this overwhelming response other schemes like Singer Sewing Machine, Crompton Greves Products, Godrej Products, Umbrellas, Note Books, Blankets, Water Filters, Laptops, Maruti Car Demos, Surya Resort Lonavala, Hotel Sai Sahavas Shirdi etc. were launched and were successful. During issue of NPC bonds society acted as a Agent in public issue of the bonds adding yet another dimension to its activities.  

During these last 35 years, we have faced all sorts of challenges during this period. We succeeded in constantly developing during this period. On administrative front with the support of management we have been able to computerise entire day to day working of the society in phased manner. Today we are totally computerized. In addition to society accounts, every information henceforth is available to members at a click on NPCIL Intranet. All this has been possible because of relentless working of managing committee supported actively by NPCIL management and members of the society.

We look forward to same spirit of Co-operation for bright future of the society.