FAQ
Welcome to our FAQ page! Here, you'll find answers to common questions about Gurkha Millennium Multi-Purpose Cooperative Ltd.
1. What is a Cooperative?
A cooperative is a voluntary association of people who come together to meet their common economic, social, and cultural needs through a jointly-owned and democratically-controlled enterprise. Unlike traditional businesses that aim to maximize profit for shareholders, a cooperative is driven by a service motive, focusing on the welfare and mutual benefit of its members.
2. How is a Cooperative different from a Bank?
The main difference is ownership and purpose.
- Ownership: A cooperative is owned and controlled by its members. Each member has an equal vote in decisions, regardless of how much capital they've contributed ("one member, one vote"). A bank is typically owned by shareholders, who have voting power proportional to their shares.
- Purpose: A cooperative's primary purpose is to serve its members' needs and promote their welfare. A bank's primary goal is to maximize profits for its shareholders.
- Benefits: Any surplus generated by a cooperative is either reinvested back into the organization for the benefit of all members or distributed among them. A bank's profits are typically paid out as dividends to shareholders.
3. What are the benefits of becoming a member of Gurkha Millennium Multi-Purpose Cooperative Ltd.?
As a member, you get access to a range of financial services and benefits designed to support your personal and professional growth. This includes low-interest loans for various purposes (housing, business, education, personal needs), attractive savings schemes, and a secure, transparent platform for managing your finances. You are not just a customer; you're an owner with a say in the cooperative's direction.
4. Do Gurkha Millennium Multi-Purpose Cooperative Ltd. have branches?
Yes, we have three locations to serve you. Our head office is located in Minbhawan, New Baneshwor, Kathmandu. We also have two branches: one in Chabahil, Kathmandu and another in Nakhipot, Lalitpur. For more details, including addresses and contact information, please visit our Contact Us page.
5. How is Gurkha Millennium Multi-Purpose Cooperative Ltd. different from other cooperatives?
While all cooperatives share a common set of principles, Gurkha Millennium Multi-Purpose Cooperative Ltd. distinguishes itself through its commitment to tailored solutions, fast loan processing, and a hassle-free experience. We focus on building strong relationships with our members and providing financial products that are flexible, accessible, and specifically designed to meet your unique needs and aspirations.