Daijiworld Media Network – Kundapur (JD)

Kundapur, Sep 19: The 31st annual general body meeting of Rosary credit Co-operative society Kundapur for the financial year of 2021-22 was held. Johnson D’Almeida, president Rosary Credit co-operative society, presided over the meeting.

A 20 percent dividend was announced for the members for 2021-22 term. Derick D’souza, director presented the audited accounts. Currently the society has 3940 members with a Rs 91.87 lac share capital and Rs 122.59 crores of deposits and Rs 98.43 crores outstanding debts.

At the end of 2022 August society has 130 crore deposits and 106 crore loans. Society has attained 2.11 crores net profit this year, said Johnson D’Almeida.

In the last year, the organization has done a total business of Rs 500 crores. The society, which was operating in Udupi district till now, is now planning to expand to other districts and to build its own building for the remaining branches. It has also decided to purchase a land near Kundapur to make a hall on the third floor in the society’s headquarters,” he added..

Fr Stany Tauro, the chief consultant of the society, said that the main reason for the progress is the good direction and the efficiency of the staff and the honesty of the customers, which led Rosary credit co-operative society to grow to such a height, and wished it to grow even higher in the future.

Philip D’costa, founder and director, welcomed the gathering. Wilson D’souza, director delivered the introductory speech. Diana D’Almeida, proposed vote of thanks. Directors Shanthi R Carvallho and Kiran Melwin Lobo compered the programme.

Directors Vinod Crasta, Baptist Dias, Ozlin Rebello, Prakash Lobo, Shanthi Dias, Santhosh Ozwald D’silva, Wilfred Menezes, Terence Suvares, and Theodore Olivera were present on the occasion.