Way back in 1963 an idea was mooted by the then employees of Transport and Shipping and Central Sales Organisation of erstwhile Hindustan Steel Limited to form a Co-operative Credit Society. On 24th August 1963, 39 (thirty nine) employees of T&S and CSO, Calcutta organised a General Meeting and formed a Co-operative Credit Society under the tiltle 'Hindustan Steel Employees' Co-operative Credit Society Limited' and got it registered, under the Bengal Co-operative Societies Act, 1940, on 19th Day of March, 1964. Later on, by the passage of time a lot of changes have taken place. In the year 1980, the name of the Society was changed as "Steel Authority of India Employees' Co-operative Credit Society Limited" and on 17.01.1992 the Society, owing to its All - India jurisdiction, converted itself into a Multi-States Co-operative Society.
