Mugu, a remote district in Nepal, has witnessed a positive transformation in its cooperative sector with the rise of the Chhayanath Savings and Credit Cooperative. Amid growing distrust towards cooperatives nationwide, Chhayanath has emerged as a model institution, showcasing financial discipline, community impact, and sustainable growth.
Established in 2014 (2071 BS) with only 41 members, the cooperative has grown remarkably, now boasting 11,235 members and assets exceeding NPR 250 million. It has set a benchmark with a loan recovery rate of 99%, a rare achievement in the cooperative sector.
Services for the Community
The cooperative has introduced several community-oriented programs that directly benefit its members. Key highlights include:
Healthcare Support: A 50% discount on ambulance services and interest-free loans of up to NPR 200,000 for life-threatening diseases.
Education and Welfare: A 25% discount on boarding school fees and a NPR 500 contribution on savers' children's birthdays.
Social Security: Financial support for maternity and funeral rites.
Vision for the Future
Speaking at the 10th General Assembly, Chairman Bhupendra Bahadur Malla outlined the cooperative's ambitious goals:
Doubling membership to over 22,000 and increasing capital to NPR 450 million by 2031 (2088 BS).
Establishing five green shops for local product marketing.
Developing “eco-villages” to promote sustainable rural development.
Empowering Marginalized Communities
The cooperative has become a pillar of support for marginalized communities in Mugu, especially women and youth. It has played a vital role in fostering income generation, capacity building, and collective mobilization in one of Nepal’s most remote regions.
Chhayanath’s success demonstrates the potential of cooperatives to uplift communities through accountability, innovation, and inclusive practices, setting an example for other institutions nationwide.
