These societies are often structured as cooperative banks or credit unions and operate with the primary goal of serving their members' financial needs rather than maximizing profit. Here are the key services typically offered by credit societies:

• Savings Accounts: Credit societies offer savings accounts where members can deposit money and earn interest on their savings.

• Loans: They provide various types of loans to members, including personal loans, home loans, vehicle loans, education loans, and small business loans. These loans may be offered at competitive interest rates and with flexible repayment terms.

• Credit Cards: Some credit societies issue credit cards to their members, allowing them to make purchases and payments with a revolving line of credit.

• Investment Products: Credit societies may offer investment products such as fixed deposits, mutual funds, and retirement savings accounts to help members grow their wealth.

• Insurance Services: They may provide insurance products such as life insurance, health insurance, property insurance, and vehicle insurance to protect members against various risks.

• Financial Counseling and Education: Credit societies often offer financial counseling and education programs to help members manage their finances effectively, make informed decisions about loans and investments, and improve their financial literacy.

• Electronic Banking Services: Many credit societies provide online banking, mobile banking, and electronic fund transfer services to facilitate convenient banking transactions for their members.

• Community Support: Credit societies may engage in community development initiatives, charitable activities, and social responsibility programs to support the well-being of their members and the broader community.

• Member Ownership and Governance: As cooperative institutions, credit societies are owned and governed by their members, who have voting rights and participate in decision-making processes.

• Member Benefits: Members of credit societies often benefit from personalized service, lower fees, competitive interest rates, and a focus on member satisfaction rather than shareholder profits.

Overall, credit societies play a vital role in providing accessible and affordable financial services to their members while promoting financial inclusion and community development. They operate on principles of cooperation, mutual assistance, and democratic governance, distinguishing them from traditional commercial banks.