Based on the vision of the Chairman, the Creative Group has been consciously involved in creating social benefits for those within the organization as well as beyond. Responsible business is an integral component of the Group and continues to be a key focus area for every member of the Company.
One of the Creative’s most impactful intra-company initiatives is the Creative Group Employees Co-op. Credit Society Ltd. It was started in 1998 to provide loan benefits the Company’s staff and employees in a way that would reduce their loan burden and outstanding amounts from the balance sheet of Group companies.
Currently (2014), there are 588 members in this society: employees of VKA group are eligible. Dividend and interest are decided at the end of the year at the time of finalization based on availability of surplus. Dividends & interests are credited to members contribution account instead of a payout. At the moment, 255 members are enjoying loans benefits and upto December 2013, 145 members availed Housing/Marriage loans at a concessional interest rate of 4%. Approximately 135 members have purchased their homes with help of our society. As a security measure, in case of sudden death of any borrower, our Society has insured the loan amount of INR 5 lacs per borrower with total loan coverage of INR 300 Lacs with United India Insurance Co. Ltd.
The Creative Group is responsible for the construction (currently in progress) of a full-scale school in Goregaon, Mumbai. Here, as many has 200 students will be able to complete their primary and secondary schooling. This is a project which is especially important to the Founder (Mr. Vijay Agarwal) and is personally overseen by him.
Over and above this, Creative also collaborated with Ananda Marga Universal Relief Team (AMURT).