Mahasemam is devoted to enabling women in resource-poor settings to become self-sufficient through the use of innovative and sustainable financial services. Mahasemam is a microfinance organization registered in Madurai in 1999 under the Indian Trust Act 1882. It operates in the six southernmost districts of Tamil Nadu, including Madurai, Virydhunagar, Ramanathapuram, Tutucorin, Thirunelveli, and Kanyakumari. The principal objective for establishing Mahasemam is to help eradicate poverty and improve the social status and self-esteem of women in resource-poor settings. The spirit of the organization is captured and signified by the Tamil word “SEMAM” which means well–being. Our mission is to provide innovative and sustainable financial services, to empower women in resource-poor settings so as to eradicate poverty and thus enabling a better quality of life for them and their families. Our vision is to enable 3 million women out of poverty by 2020.
There has been significant growth in Mahasemam’s activities over the last seven years, from 2012 to 2018, branches have grown from 36 to 47, villages served from 834 to 2327, operating centers from 4,013 to 6,111, member groups from 26,528 to 45,057, members served from 102,249 to 145,333, staff from 245 to 307, active borrowers from 93,220 to 117,469, and loans disbursed from Rs. 93.46 crores to Rs. 288.10 crores [$13.2 million to $40.6 million]. Even with such phenomenal growth, Mahasemam has consistently retained a recovery rate of 99.99% or higher.