Registrar of Co-Operative Societies
Government of Nagaland

Apex Level - EATACOL

The Nagaland State Entrepreneurs Associates Thrift and Credit Cooperatives Federation Limited (EATACOL)

     The Nagaland State Entrepreneurs Associates Thrift and Credit Cooperatives Federation Ltd. (EATACOL) has been initiated to develop and promote Thrift and develop good credit culture in the state of Nagaland. It was launched in collaboration with the Department of Cooperation, Govt. Of Nagaland and Entrepreneurs Associates (a premier NGO) on 20th Aug. 2010 at Mokokchung with the first Zonal Office.

     Since its inception, EATACOL has mobilized and trained 1016 registered members from Peren, Mokokchung, Phek and Kohima districts with representative participations from Mon, Longleng and Kiphire districts.

During the last one year, the micro savings has enabled a capital formation of about Rs. 200.00 lakhs spread in 7 districts of Nagaland. Although, this is a small beginning, such impact will have a far reaching effect on the economic development of Nagaland.

The EATACOL has been working with some progressive farmers and loans ranging from Rs. 20,000/- to Rs. 50,000/- are usually disbursed to start a small orchard of 0.5 to 1 hectare. And the loans are repaid quarterly in 3 years. EATACOL has been also providing loans for Livestock like piggery and mithun rearing with loan amounts ranging from Rs. 20,000 to 100,000/- .

Mobilizing Thrift and Credit Culture in Rural Areas of Nagaland

In its Annual General Meeting held in April 2013, the Board members of EATACOL have discussed the issue of promoting its activities in the rural areas where there is a dire need of integrated financial services. EATACOL has taken a stance to change attitudes and provide a change in these areas. It has designed specially tailored Thrift Plans for the rural areas to inculcate the discipline of Savings. Studying the macro and micro economic differences of functioning of the villages and town areas, these plans will maximize benefit to individuals. In the past year, the EATACOL TEAM has extensively travelled to rural villages for Community Mobilization meetings; 5 villages of Phek District, 3 villages of Mokokchung District, Tseminyu and Mon Town.

Creating Credit Linkages

About 200 members who are urban based have taken up small trading activities and petty business activities. Few members are engaged in sustainable business activities. EATACOL hopes to consolidate and promote more of the sustainable business activities of the members so that such members can become job providers and also help the state with strong micro business firms, which is the need of the hour. Such firms can provide huge employment to the youths of the state and generate revenue to the state as well.

EATACOL has taken a step forward by personally mentoring and providing financial access to vegetable sellers, small garment stores, street vendors who are sustaining themselves and providing for their families without having to rely on other sources.