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)
a. 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.
b. 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)
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 along with dependent spouse and dependent children, dependent parents.
b) Retired Members along with his / her spouse only
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.