Credit cooperative societies are the oldest Rural Financial Institutions(RFI) in our country. These member driven institutions have the widest network covering every state and union territory in the country. From the beginning, separate institutions under the cooperative fold were created to cater to the long term and short term credit needs of the members.

(1) Every multi state cooperative society shall organize co-operative education program for its members, directors and employees. (2) Every multi state cooperative society may provide funds for such cooperative education program .In order to obtain the designation, candidates following the SOA education system co-sponsored by the CIA must successfully attend the Practice Education Course (PEC). Enrolment for the PEC is subject to the candidate satisfying one of the following conditions: The candidate has credit from the SOA/CIA for Courses P, FM, MFE, MLC, and C, all VEE credit, all FAP requirements (eight FAP modules and both the interim and final assessments), and two Fellowship-level specialty track exams. The candidate has obtained his/her Fellowship designation from a recognized actuarial organization. The Canadian Institute of Actuaries (CIA) relies on the examination systems of the society registration of Actuaries (SOA) and the Casualty Actuarial Society (CAS) to provide basic actuarial education. Originally intended to replace the Canadian-specific material that was removed from the 8OA 2000 exam system, the PEC has developed and continues to develop, so that addition to the Canadian-specific education, it also provides opportunities for candidates to benefit from the following gain hands-on, practical knowledge of practice specific course content through interactive group workshops and seminars, understand how Canadian professional standards affect their work, and network with other future actuaries and experts in their field of practice.