News and Pics From Vinay Pais
For Daijiworld Media Network— Udupi (CN)

Kundapur, Jul 23: The head office building of Rosary credit co-operative society, Kundapur, will be inaugurated on Sunday, July 27, at 11 am. The newly-constructed building, located near V K R English Medium School on the Kundeshwara Temple Road, is fully air conditioned and has been equipped with technology at a cost of Rs 18 lac.

The priest of the Suratkal church, Rev Fr Antony Lobo, will perform the inauguration while Rev Fr Alvin D’Souza, priest of Kundapur ward, will bless the occasion. M Basappa, deputy manager, Udupi Zilla co-operative society, will open the safe deposit vault. Raju Devadiga, president, Kundapur Taluk Panchayat,  municipal chairman, Mohandas Shenoy, Kumary Poornima K, Sathish Shetty, president standing committee,  municipal councilor, Geetha, would be the chief guests of the occasion.

The site measuring about 4,000 sq ft was purchased last year for Rs 13 lac and the new headquarters came up in a year’s time. Since its inception in 1992, the credit society has been earning a profit of Rs 5 lac every year and has declared 15 percent dividends annually.

The founding members of the society include late Alfonso Lobo, late G L D’Lima, late William Pais, Philip D’Costa, and members of the Catholic Sabha, Kundapur ward, who contributed the initial capital. Rev Fr Clifford D’Souza, Rev Fr Stany B Lobo, Rev Fr J B Crasta, and Rev Fr Antony Lobo, are among those who have worked unstintingly for the credit society’s progress over the years.

At present, the society has deposits exceeding Rs 3 crore and the amount lent out is about Rs 2 crore. The existing administrative board has A J Buthello as president and Vinay Pais as vice-president. Felix Dais, Rock John Carvelloh, Syprian Menezes, Nathalian D’Souza and Joseph Fernandes are the other board members. Pascal D’Souza is the chief executive officer and Mabel D’Souza is the manager.