Daijiworld Media Network – Business
Bantwal, Apr 23: Bantwal Catholic Credit Co-operative Society, a well known financial institution in Bantwal region is now stepping to its 22nd year of its existence in satisfactory service to its members. The growth of the co- operative society is highly appreciated by its members who predict that it may be upgraded into a bank soon.
Twenty-two years ago, Ligory Lobo, Vagga, dreamt of establishing a co-operative society for Christian minorities with the consideration of saving money for children higher education and also to meet the immediate financial support to family. He shared and consulted this dream with his fellow Christian leaders and friends. In 1997 with the great responsibility of Ligory Lobo, Vagga, the dream of establishing credit co-operative society was registered as Bantwal Catholic Credit Co-operative Society under the department of co-operative society Mangaluru.
Officially on October 2, 1997 B P Achar, a deputy registrar of district co-operative societies inaugurated Bantwal Credit Co- Operative Society and the then parish priest of Mondankap Church, Fr Peter S Noronha, blessed the office which is situated at Polali cross. At the time of its registration the society had 661 members with a deposit of Rs 4,86,983. As a president, Ligory Lobo and other 11 members governing body led the society for the first three years. Except two years in the beginning, the society started earning profits every year. The co-operative society has now grown into strong financial firm among the catholic community. The co-operative society has received grade ‘A’ in audit classification and became one of the leading financial institution in the region.
With the intension to provide more facilities and comfortable service, in 1999, the office of the society shifted to the opposite of Muncif Court, BC Road. In 2014, the office of the society occupied its own space in Royal Complex building which is opposite of the Corporation Bank BC Road and thereby continued its functioning. It has now branches at BC Road, Farangipete, Bantwal, Vamadapadav, Kuppepadav, Kaikamba, and Siddakatte.
Fixed Deposit, Swarna Cash Certificate, Recurring Deposit, Saving Deposit and Nitya Nidhi Deposit facilities are available at the co-operative society. It offers loans for housing, hypothecation loan, loan on jewelry, loan on deposit, mortgage loan, secured loan, self employment business loan and loan on surety.
Bantwal Credit Co-Operative society has Western Union money transfer facility and express money transfer at all its branches. Its BC Road branch provides RTGS, NEFT and E-Stamp facility to customers. An attractive interest on deposits and loans are another reasons for customers satisfaction over the society. Besides, the co-operative society is involved in a large number of social activities. The society has gained special appreciation all around the region by helping the needy, poor students and housing.
Currently, the head office cum BC Road branch office and Farangipet branch office are functioning at their own office space. Every year, the society successfully recovers its 99 per cent of loan. The society has secured the ‘Best co-operative society’ award from district South Canara Co-operative Societies four times. With strength of 25 staffs, the co-operative society had Rs 53.51 crores working capital last year and it plans to increase it by the end of this year.
A seed of help for need which was sown two decades ago became a plant and has now grown into a big tree. Profit is the main object of every financial institution, but Bantwal Catholic Credit Co-Operative society is serving the society using its profit and has become a family bank for middle class people.
Contact:
Head office / BC Road Branch
Opp Corporation bank,
Main Road,
Jodumarga, BC Road,
Bantwal – 574219
Tel: 08255-234026
Email Branch: bcccsbcroad@gmail.com
Email HO: bcccsociety@gmail.com