Media Release
Udupi, Sep 25: "Rosary Credit Co-operative Society at the time of stepping into the 28th year is declaring 17.5% dividend to its members. In 2019-20 financial year, the society aims to reach a mark of Rs 100 crore deposits and Rs 500 crore business mark with Rs 1.5 crore profit," said Philip D'Costa, president, Basrur branch.
Valentine D'Souza, DYSP Jackson D'Souza Nolan Fernandes and Divya D'Mello were honoured on the occasion for their notable achievements at the state and national level.
On receiving the honour, Valentine D'Souza said, "I have great respect for this institution. Let Rosary Credit Co-operative bring together all the people as a family, let this society bring peace among its members along with prosperity. Recognizing the achievers must be continued which will encourage them."
Fr Stany Tauro, spiritual director on the occasion said, "In the last 28 years, the society has grown to great heights. Let this society spread its feathers all over. Let Rosary Credit Co-operative be the strongest, faithful and fastest society in providing service to the people."
Johnson D'Almedia, president on the occasion said, "In these last years, society has developed in various forms. Currently, the interest rate over loans is 13%. In upcoming days we are planning to reduce the rates to help the needy. Very soon new branches will be opened in Tallur, Trasi, Shirva and Karkala. Jobs to the youth will be provided in these new branches. Every Christian as well as the general public must be members of our bank. This society should function for a thousand more years."
Paskal D'Souza, chief operating officer presented the report. Mable D'Souza presented the balance sheet and profit sheet. Dyna Almedia, director presented the budget of 2019-20 financial year. surplus budget was presented by John Menezes.
Directors Kiran Lobo, Gerald Crasta, Stany D'Souza, Shanthi Carvalho, Jacob D'Souza, Baptist Dias were present on the occasion.
Martin Dias proposed a vote of thanks. Vinod Crasto compered the programme.