The Puducherry Public Servants Co-op Credit Society Ltd

Membership

A) Members:-

“Member” means All the categories of public servant working in the Government in Puducherry region on regular basis may become members of the society. They are called "A" class members and get share from this society eligible for membership by remitting a share of Rs.100/- each. "A" class members rights to voting power and eligible for getting surety loan from this society and earn dividend of their shares of the society profit.

Membership shall be closed by a member after 2 years of membership on personal grounds except in the case of transfer/death or/ otherwise. Members who have retired/superannuated can become only associate members after closing their old accounts.

B) Associate Members:-

Non-teaching members can become Associate members of this society. They are called "B" class members and enrolled the member with share of Rs.10/-each. They are not availing any loan or dividend from this society and also no voting power. They are deposit money in the account of fixed deposit and get interest only.

Source of Fund

The main source of fund for the Society as follows.

To availing loan from financial bank of the Pondicherry State Co-operative Bank
To collecting Thrift Deposit from members
To collecting Fixed Deposit from members and associate members
To collecting Recurring Deposit from members

Borrower and Surety

It is the responsible of the borrower to pay the monthly dues regularly to avoid the un due hardship to the society.
The surety should also watch the recoveries of his counterpart (borrower) or otherwise the amount will be recovered through his (surety) salary.
The member shall clear all the recoveries either as borrower or as surety before the retirement enable the society to issue No Demand Certificate.

General Body Meeting

Every year the society shall convene the General Body meeting as a statutory measure after the completion of the Audit, The General Body shall pass the Audit and statement of Accounts, Budget Estimate, Income and expenditure, Profit allocation and along with declaration of dividend and bye-law amendments if any proposed by the Management or Co-operative Department.

Membership

Membership

Source of Fund

Borrower and Surety

General Body Meeting

Our Office

Email Us

Call Us