Supporting and grooming women led micro- enterprises and group based business activities through microfinance services, has been a flagship program of CCFID. CCFID through its financial and non- financial supports have focused to improve the socioeconomic condition of its poor and unprivileged clients. CCFID has availed term loans from various recognized Banks and financial institutions like SIDBI, MUDRA, NABARD, City Union Bank, IDBI, FWWB, CARE, OikoCredit, RCL, PallavanGrama Bank, Dhanlaxmi Bank and Bank of Maharashtra in recent past with perfect credit history and on-time repayment.
Microfinance Goals:
- Provide a complete range of financial services based on client need and client potential.
- Develop as an institution which stands best in all its aspects regarding: Client satisfaction, innovation, efficient service delivery, leadership and ethics, Recognition and governance.
- Work with a client friendly business model, doorstep financial and non-financial services.
- Building a holistic platform for financial inclusion for poor, community development, disaster management, introduction of new technology and decentralized decision making.
Risk Management
Every program associates certain level of risk to it. CCFID also has been facing several risks but has been able to mitigate these risks successfully due to following few reasons:
- Activity Economics: Strong appraisal processes and experienced staffs help us in identification of viable youth businesses to support.
- Our Group Based Mechanism: Group based approach helps us to bring in faith and integration amongst our youths, which in a way reduces risk.
- Product design: Specialized products, meeting the needs of our youth beneficiaries has helped us to gather increased outreach and improve our program quality standards.
- Insurance Linkage: Linking the youths to insurance companies which reduce risks in case of any uncertainties.
Operational Outreach
CCFID services its customers through a network of branches all linked with the head office located in Cuddalore. The whole operational system of branches is decentralized to attain the organization’s mission and vision. The organization’s culture is reflected in professional approach to branch management, commitment of staff, vertical and horizontal dissemination of information and most importantly our customer satisfaction needs.
Client Profile:
CCFID has a client base from wide range of business activity at different scale and category. Most of them are involved in daily business through own small shops or household based activities.
Some of the major occupations are listed below.
• Petty traders
• Food processing
• Clothe sales
• Dairy business
• Flower sales
• Jewellery designing
• Cashew business
• Doll making
• Rope making
Grievance Redressal Mechanisms:
CCFID believes in timely and efficient client policy is the vital points for success for any organization and particularly when it comes to organization working at the ground level. CCFID has initiated Member Helpline Number for all its active members and to be enrolled members who have any complaints regarding branch operations. A display board with number has been provisioned at each branch office and direct complain has been passed through a phone call to Head office. The matter is to be taken care of within 24 hours of time when it is registered.
Products
| Items | Product 1 | Product 2 | Product 3 |
| Amount | 20,000 - 30,000 | 30,000 - 40,000 | 40,000 - 50,000 |
| Period | 15 - 24 Months | 22 - 24 Months | 22 - 30 Months |
| Rate | 15 - 26% | 15 - 26% | 15 - 25% |
| Processing Fee | 1% | 1% | 1% |
| Insurance | Insurance prescribed norms | Insurance prescribed norms | Insurance prescribed norms |