Association of Officers of UCO Bank
48 Hours Bank Strike on February 10th & 11th, 2014 at the call of UFBU : All Officers to Participate
AOUCB Benevolent Trust

AIUCBOF WELFARE & BENEVOLENT TRUST

EMBLEM of the Trust illustrates two protective hands for Welfare and Happiness
holding the Symbol of AIUCBOF, the settler of the Trust. The phrase written

in Hindi सर्वजन हिताय सर्वजन सुखाय         means Well being and Happiness to all

 

All India UCO Bank Officers' Federation Members' Welfare Fund, shortly known as AIUCBOF Members' Welfare Fund, rare of its kind in the Banking Industry, was launched in the 4th Biennial Conference of All India UCO Bank Officers Federation (AIUCBOF) held at Hyderabad from 28th to 30th November, 1982 for the benefit of Officer members and their families.


In the 4th Triennial Conference of AIUCBOF held on 15"'and 16 October 2000, the delegates felt the necessity to provide more stress on Welfare and charitable activities and passed a Resolution authorizing AIUCBOF to form a Trust named AIUCBOF Welfare & Benevolent Trust and to take over all the Assets and Liabilities of AIUCBOF Members' Welfare Fund. It was resolved that while the Trust will have similar aims and objectives like AIUCBOF Members' Welfare Fund, it would expand the ambit of its welfare activities depending on resources and also participate in social welfare and charitable activities.


According to the above desire of the delegates, and the Resolution passed in the extended Secretariat Meeting of AIUCBOF held at Nagpur on 26/08/2002, AIUCBOF Welfare & Benevolent Trust was formed with effect from 01/10/2002 with AIUCBOF being the settlers. The Trust took over the entire assets and liabilities of erstwhile AIUCBOF Members' Welfare Fund and started functioning as a Trust. Com. President, Senior Vice- President and General Secretary, the three Principal Office Bearers of the Federation, three Office Bearers of erstwhile Welfare Fund and three other Office Bearers of the Federation from three parts of the country were selected as the Life-Trustees in the said Secretariat Meeting. It was ensured that the Life-Trustees should have a blend of senior and younger generation leadership.

In terms of Trust Deed, there is provision for maximum number of nine Life-Trustees so appointed by the Settler i.e.  AIUCBOF and a maximum number of fourteen Trustees other than Life-Trustees to be nominated for every two years by the Life-Trustees from the members of the Trust.


The membership contribution was made as Rs.3,000/- as per Trust Deed for all category of members, and the said contribution is non-refundable.  Any contribution for membership/donation to the Medical Aid Scheme or any other schemes of the trust are eligible for exemption U/s 80G of the I.T.Act and the members will be benefited accordingly.


AIUCBOF WELFARE & BENEVOLENT TRUST – WELFARE SCHEMES:


1) HOLIDAY HOME FACILITY
    (for all members – serving officers / supervisory staff and retired members)


  • Members are entitled for reimbursement for their own stay during travel in any Holiday Home / Guest House / Hotel once in 4 (four) years.  Reimbursement is limited to the actual amount paid for the accommodation or Rs.1000/- (RUPEES ONE THOUSAND) whichever is lower against production of original receipt / cash memos in support of their claim for reimbursement.
  • Presently, the trust is having its Transit House in its own premises at Kolkata.  Similar Transit House has been opened in Shimla.

 

2) DEATH RELIEF / COMPENSATION ON PERMANENT DEISABILITY
    (for serving officers, supervisory staff members only)

          In case of death or permanent disablement of a member while in service, death relief / compensation for an amount of Rs.50,000/- (RUPEES FIFTY THOUSAND) is payable to his / her nominee by the Trust.


3) MERITORIOUS CHILDREN AWARD
    (For Serving Officers / Supervisory staff Members)


    Award to all Meritorious Children of members is available to those who score average 80% and above marks in Standard X / Madhyamik or equivalent examination AND average 75% and above marks in Standard XII / Higher Secondary / Plus 2 examination separately for each State, @ Rs.750/- for the First ranker and Rs.500/- for the rest of the applicants according to the merit of children in the State.


4) HEALTH CHECK-UP
    (For Retired Members)


    Retired Member along with his / her spouse will be entitled for reimbursement of Rs.800/- for Health Check-up against production of original Cash memo / Bill for EACH YEAR from the date of membership.


5) MEDICAL AID SCHEME (2011-12)
    (For All Members)


OBJECTIVE

The expenses for hospitalization incurred by the Members are much more than the reimbursement for such hospitalization expenses provided as per the Bank’s scheme.  The main objective of this scheme is to mitigate the hardship of such members and to extend financial assistance from the trust for the balance amount not reimbursed by the Bank.


MEDICAL AID CORPUS FUND


Each Serving Officer / Supervisory Staff / Retired Member shall donate to the Trust towards MEDICAL AID CORPUS FUND  per annum for each financial year (April to March) as under.


a)       Service Officer / Supervisory Staff Member                            Rs.800/-
          along with dependent spouse and dependent
          children, dependent parents.

b)       Retired Members along with his / her spouse only                  Rs.900/-

 

ORTHOPEDIC EQUIPMENT (For Retired Members)


Reimbursement of cost of orthopedic handicap equipment is provided subject to a maximum amount of Rs.2000/- as one time measure against production of original Cash memo / Bill, if such handicap resulted after enrolment of membership.

 

Membership position as on 31.03.2011


Service Officers         :           5769
Supervisory Staff      :             110
Retired Officers         :           1670

TOTAL                      :            7549

 

WELFARE BEBEFITS EXTENDED TO MEMBERS SINCE LAST 25 YEARS UNDER DIFFERENT SCHEMES AMOUNT TO RS.4,07,15,292/- (RUPEES FOUR CRORES SEVEN LAC FIFTEEN THOUSAND TWO HUNDRED NINETY TWO ONLY) AS ON 31.03.2011.


AOUCB Benefit Fund

AOUCB BENEFIT FUND – A FEW WORDS


The AOUCB BENEFIT FUND started its operation in April 1994 to provide various financial benefits to the members of Association of Ohfficers of UCO Bank in line with the following principal objects:-


  • to provide financial assistance for carrying out work of common economic benefits thereby ensuring the increased welfare in every way amongst its members.
  • to encourage thrift, self help and aid amongst the members and to provide any other financial assistance or otherwise to its members as may be considered necessary by the Trustees.     

 

We accept monthly subscription as ‘Unit’ from our members and provide loan to them subject to fulfilling of certain laid down conditions and invest residual amount in Fixed Deposit with our Bank.


S

We distribute income over expenditure as ‘interest’ on deposit amongst our members on prorata basis at the end of each financial year and rest amount is transferred to Reserve Fund and Contingent Fund @1/4th and  3/4th   respectively.


We have two Guest Houses (Holiday Home) at ‘Gangtok’ and ‘Puri’, opened for our members and their relatives at a subsidized rate to fulfill the above objectives as considered necessary by the members as per amendment made to the Trust Deed.

 

Guest House Details:


Place: ‘Puri’

Location: Hotel Ocean View,  Sea Beach, Puri

 

Booking Terms


For members:

Tariff for Room nos.27,28,33 & 34-Rs.400/- per day for three persons (First floor) per room.


For non-members:

Tariff for Room nos.27,28,33 & 34-Rs.500/- per day for three persons (First floor) per room.


Allotment : Rooms will be allotted on ‘first come first served’ basis

Accommodation :  Maximum either three adult persons or two adults and two children below ten years per room.

Booking:  Three months in advance for members and two months in advance for non-members on cash payment at the Fund Office from 11-30 a.m. to 7-30 p.m.

Security Deposit :Rs.100/- per room (refundable) for non-members

Check in/out :  7 a.m.

Contact Person      : Shri Aptu Chakraborty
                                (Mobile no.9339271560 & 8017562291)


Place: ‘Gangtok’

Location: House of Smt. M.Molommu, Diesel Power House Road Gangtok, East Sikkim.

 

Booking Terms


For members:

Tariff for Room nos.1,2 & 4-Rs.160/- per day for four persons per room.

Tariff for Room no. 3         -Rs.100/- per day for two persons per room


For non-members:

Tariff for Room nos. 1,2 & 4-Rs.260/- per day for four persons per room.

Tariff for Room no. 3         -Rs.175/- per day for two persons per room


Allotment:  Rooms will be allotted on ‘first come first served’ basis


Accommodation:   Maximum four/two persons per room as stated Above.

Booking:   Three months in advance for members and two months in advance for non-members on cash payment at the Fund Office from 11-30 a.m. to 7-30 p.m.

Service charge:  Rs.30/- per room for the booking period.

Security Deposit:  Rs.100/- per room (refundable) for non-members

Check in/out: 12 p.m.


Contact Person      : Shri Aptu Chakraborty
                                (Mobile no.9339271560 & 8017562291)



EXISTING LOAN SCHEME OF THE FUND

 

The Scheme:
The scheme provides two types of loans: – General Loan & Special Loan.


General Loan :

Eligibility :


A member of the Fund having membership for six months or more after admission is eligible for obtaining loan from the Fund.


Quantum of Loan :


  • A member having membership for six months to twelve months is eligible for a loan amount of Rs.12,000/= or 10 times of unit contribution whichever is higher subject to a Maximum of Rs.25,000/=.
  •  

  • A member having membership above twelve months and up to thirty six months is eligible for a loan amount of Rs.18,000/= or 10 times of unit contribution whichever is higher subject to a Maximum of Rs.60,000/=.
  • (For availing minimum quantum of loan in the above two categories, any shortfall in unit contribution below 1/10th of the loan amount shall be deducted from the sanctioned loan amount and credited to members’ deposit under unit a/c.)


  • A member having membership above thirty six months is eligible for a loan amount of 15 times of unit contribution subject to a Maximum of Rs.1,25,000/=.

 

Rate of Interest  :  10.00% per annum with monthly rest.

 

Repayment:


The loan under category (i)  &  (ii)  is recoverable from salary in 48 equated monthly installments (EMI) commencing from the next month of the loan sanctioned and under category (iii) the same is recoverable in 60 equated monthly installments (EMI) commencing from the next month of the loan sanctioned.


Second / Subsequent loan:


  • Further loan may be applied for by the members on expiry of six (6) months after availing the earlier one.
  • On medical ground 2nd / subsequent loan may be availed after expiry of two (2) months from the date of availment of the previous loan. Medical certificate from a registered Medical Practitioner to be produced along with the loan application.

Other Stipulations:


  • An applicant who has availed cash Credit limit from UCO Bank should try to maintain take home pay of 40% after taking into account EMI of the proposed loan.
  •  

  • EMI shall be rescheduled depending on the remaining service period of the loan applicant.
  •  

  • The Fund may restrict disbursement of loans to the members, who are placed under suspension and/or undergoing departmental enquiries for imposing major penalties by the Bank, to the extent of 90% of their own contributions, subject to the condition that the loan will be adjusted from the deposit amount as soon as both ends meet.

 

Special Loans :


  • In addition to the above the members of the AOUCB Benefit Fund irrespective of their length of membership are entitled to a loan of Rs.3010/ (recoverable in 12 monthly equated installments) for obtaining Life Membership to AIUCBOF Welfare & Benevolent Trust. The amount will be paid directly to the Benevolent Trust to the debit of members’ loan a/c. Interest @10.00% p.a. with mothly rest shall be charged on such loans.
  •  

  • The members of the Fund, irrespective of their length of membership are entitled to a loan in addition to the loan facilities mentioned above, recoverable in 12 monthly-equated installments, towards donation to Medical aid Fund of AIUCBOF Welfare & Benevolent Trust. The amount will be paid directly to the Benevolent Trust to the debit of members’ loan a/c. Interest @10.00% p.a. with monthly rest shall be charged. Further the Fund shall continue to allow / grant loan to it’s member for an amount to the extent of annual donation under the Medical Reimbursement Scheme of AIUCBOF Welfare & Benevolent Trust as may be fixed by the said Benevolent Trust from time to time under the terms & condition stated above.