T D B COLLEGE EMPLOYEES COOPERATIVE CREDIT SOCIETY LTD (TDBCECCSL)

   

DATE OF INCEPTION:
 The society had been registered with the A R C S 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:   
Mission : 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. For this purpose transparency and 
 
Vision & Future plan  of the 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.