2 May 2024
In the bustling town of Aluva, Kerala, a tale of entrepreneurial grit and financial empowerment unfolds as Hajra Abdul Salam, a 37-year-old entrepreneur, finds solace and support in Sanghamam Multi-State Cooperative Credit Society. Despite facing educational hurdles, Hajra’s determination led her to establish Hadiya Yasin Food Products, a small-scale snack manufacturing venture named after her beloved children.
Introduced to Sanghamam’s array of financial products in 2014, Hajra seized the opportunity to become a member of the cooperative society. Through diligent participation in Sanghamam’s group deposit scheme, she experienced the fruits of her savings efforts, benefiting twice from substantial returns through a stroke of luck.
However, Sanghamam’s support transcended mere savings. Recognizing Hajra’s potential, the cooperative society extended a helping hand in her business expansion endeavors. Three loans granted by Sanghamam became instrumental in Hajra’s strategic investments, from acquiring crucial machinery for production to optimizing raw material procurement processes. These investments not only boosted her business efficiency but also significantly augmented her income, propelling her towards financial stability.
Yet, it was during the calamitous floods of 2018 that Sanghamam truly proved its mettle. With her home and factory submerged, and machinery rendered inoperable, Hajra turned to Sanghamam once again. A timely loan enabled her to rebuild her business from the ruins, showcasing Sanghamam’s pivotal role in fostering resilience and aiding in recovery during times of adversity.
Beyond her personal journey, Hajra’s advocacy for Sanghamam’s services has sparked a ripple effect in her community. Through word-of-mouth, she has encouraged numerous friends and family members to embrace Sanghamam’s offerings, thereby promoting financial inclusion and empowerment.
Crucially, Sanghamam’s appeal lies not only in its financial assistance but also in its alignment with Hajra’s religious beliefs. As a devout individual opposed to interest-based transactions, Sanghamam’s interest-free loans and streamlined processes resonate deeply with her convictions, providing a viable alternative to conventional banking.
Looking ahead, Hajra envisions further collaboration with Sanghamam, advocating for simplified loan procedures and exploring tailored business loan options to fortify against future uncertainties. Her journey serves as a testament to the transformative impact of cooperative societies in empowering individuals and communities to achieve financial stability and prosperity in Kerala and beyond.
