TDB COLLEGE EMPLOYEES COOPERATIVE CREDIT SOCIETY LTD (TDBCECCSL)
DATE OF INCEPTION:
The society had been registered with the ARCS of Burdwan III Range, Asansol under the name of the “ TDB COLLEGE EMPLOYEES COOPERATIVE CREDIT SOCIETY LIMITED” with the registration NO-454, dated 30-03-1995 as a non agricultural Co-operative credit society with limited liabilities. The main objective of the society is to provide credit facilities to its members and to create thrift fund saving habits who are the members of the society.
COMPOSITION:
This society comprises its six bonafide members (both teaching and non–teaching) are elected by the general members (presently 84 members )in the annual general meeting. Among these Six, and the other one is selected the first meeting of the office bearers one is selected as chairman, one is selected as secretary Usually Secretary runs the society Frequently meetings are held for smooth running of the society.
MISSION AND VISION OF THE SOCIETY:
Basic mission of this society is to provide financial assistance to the teaching and non-teaching staff of the college who registered themselves as a stakeholder of this society.
To help the members of the society when particular members face a financial burden for a particular purpose. In future, the society has an intention to decrease the rate of interest on MT & ST loan and increase the interest rate on thrift fund The society is looking forward for increase the substantial contribution for education fund for the benefit of our society and if fund permits to provide some financial help as scholarship to need based student of our college.
FINANCIAL ACTIVITIES:
The principal sources of co-operative society are members’ subscription, Guaranteed subscription, interest on loan and fixed deposit. Share capital has increased from inception of the society.
Society provides a maximum amount Rs. 10,00,000.00 (Ten Lakhs) of loan to its registered members in two parts as Mid term and Short term with a rate of interest of 9% and 9% respectively. Every applied loan has to be approved and sanctioned by the Board meeting prior to disbursement. Members should apply in a formal prescribed format to the Chairman of the Society for granting his/her loan.
After general deduction from profit, as per provision cash dividend should be distributed by the Society after taking resolutions in the board meeting to its registered members in respect to their share money as an alternative year. The society on an an average has earned profit for last five years Repayment and recovery of the loans are administered by the society, in a well organized manner regularly and the audit report of the accounts is updated Board meetings are conducted regular interval basis as per co operative societies law.
ACTIVITIES TOWARDS THE SOCIETY:
This cooperative society is continuously engaged towards various activities for social benefit and responsibility of our society. A sum of profit is kept away for contribution towards the educational fund of the State Government.
