HIGHLIGHTS
- The Authorized share capital has increased from Rs. 2,00,000 to Rs.100,00,000.
- The Society has issued Bonus Share twice to the members of the Society.
- The monthly contribution from members of Rs. 25 has increased to Rs.1500 per month.
- The Society has implemented Recurring Deposit and Fixed Deposit schemes to the members of the society at a attractive rate of interest.
- The Society has been extending loan to the members at a rate of 14% to 16% in the past of which the interest rate is brought down to 10.50% due to increase in own funds of the society.
- The limit of long term loan has enhanced from Rs. 10000 to Rs. 1000000 and short term loan from 1000 to Rs. 40000 to the members of the society.
- The Society has implemented Death Relief Scheme of Thrift Cooperative Association (TCA) and made applicable to the members against loan amount exceeding Rs. 100000. Under the scheme the member has to deposit Rs. 5000 and incase of death of the loanee member, the TCA will pay the sum assured relief amount of Rs. 60000 or 80000 depending upon age of member. This scheme gives opportunity for security of loans, relief of sureties, bereaved family members to repay the loan risk covers and assurance to any type of death besides warranty of deposit. In brief the scheme comes to the rescue of not only the family of deceased member but avoids the hardship on sureties.
- The society has implemented social welfare scheme to members, felicitation of meritorious children of member studying from IVth class till graduations in various disciplines since year 1998 and also felicitates the retired members.
- The Society has been awarded ‘AUDIT CLASS A” since last 22 years.
- The Society has celebrated Silver Jubilee function after completion of 25 years and proudly distributed the Digital Watch and Silver Jubilee Memento to our esteemed members. Also the founder members of the society were felicitated.
- The society has computerized accounts in the year 2006 through Thrift Cooperative Association Ltd. Ponda Goa.
- The society has also distributed Wrist Watches to all the members of the society as gift.
The Bye laws of the society has been adopted with the Goa Co-operative Societies Act 2001 and Rules 2003 and approved in the General Body Meeting held on 28/12/2008
GOA MILK UNION EMPLOYEES COOP.CREDIT SOCIETY LTD., CURTI PONDA GOA
PROGRESS AT A GLANCE SINCE INCEPTION
| Year | No.of Members enrolled | Share Capital | Authorised Share Capital | Recurring Deposit | Cumulative Deposit | Fixed Deposit | Net Profit | Audit Class |
|---|---|---|---|---|---|---|---|---|
| 1988-89 | 56 | 32825 | 200000.0 | — | 800.0 | -2053 | B | |
| 1989-90 | 75 | 76300 | 200000.0 | — | — | — | -5724 | B |
| 1990-91 | 106 | 124750 | 200000.0 | — | — | — | 2205 | B |
| 1991-92 | 118 | 168350 | 200000.0 | — | 3125.0 | — | 18323 | B |
| 1992-93 | 120 | 229225 | 1000000.0 | — | 9325.0 | — | 51188 | B |
| 1993-94 | 139 | 308350 | 1000000.0 | — | 42850.0 | — | 112246 | B |
| 1994-95 | 152 | 411500 | 1000000.0 | — | 165403.0 | — | 135374 | B |
| 1995-96 | 168 | 441200 | 1000000.0 | — | 318999.0 | — | 136778 | A |
| 1996-97 | 183 | 487600 | 1000000.0 | — | 488599.0 | — | 181493 | A |
| 1997-98 | 194 | 571300 | 2000000.0 | — | 661485.0 | — | 174563 | B |
| 1998-99 | 202 | 701900 | 2000000.0 | 210950.0 | 854785.0 | 320800.0 | 245087 | A |
| 1999-00 | 213 | 803300 | 2000000.0 | 224050.0 | 1065585.0 | 683300.0 | 296975 | A |
| 2000-01 | 218 | 887400 | 2000000.0 | 191650.0 | 1270249.0 | 947100.0 | 330200 | A |
| 2001-02 | 223 | 939800 | 2000000.0 | 181550.0 | 1511191.0 | 2059737.0 | 418238 | A |
| 2002-03 | 220 | 1131800 | 2000000.0 | 235550.0 | 1663349.0 | 2322986.0 | 364795 | A |
| 2003-04 | 218 | 1131800 | 2000000.0 | 266250.0 | 1648524.0 | 2276350.0 | 450987 | A |
| 2004-05 | 213 | 1392800 | 2000000.0 | 236410.0 | 1647499.0 | 2571364.0 | 429128 | A |
| 2005-06 | 210 | 1619700 | 2000000.0 | 226281.0 | 1658724.0 | 2254486.0 | 300585 | B |
| 2006-07 | 209 | 1931500 | 3000000 | 242181.0 | 2108024.0 | 2481819.0 | 374313 | B |
| 2007-08 | 203 | 1938100 | 3000000 | 227181.0 | 2471054.0 | 2015008.0 | 383754 | A |
| 2008-09 | 211 | 2099000 | 3000000 | 250281.0 | 2874416.0 | 1635617.0 | 403446 | A |
| 2009-10 | 224 | 2423900 | 3000000 | 273721.0 | 3317254.0 | 2038957.0 | 480776 | A |
| 2010-11 | 253 | 2602600 | 5000000 | 541331.0 | 3649929.0 | 2040179.0 | 482865 | A |
| 2011-12 | 264 | 3137600 | 5000000 | 848821.0 | 4897179.0 | 3102825.0 | 556715 | A |
| 2012-13 | 261 | 3530400 | 5000000 | 880271 | 6237350.0 | 3428618.0 | 654264 | A |
| 2013-14 | 264 | 3935500 | 700000 | 1196971 | 7655475 | 3246610 | 696594 | A |
| 2014-15 | 262 | 4768300 | 700000 | 1179071 | 9467625 | 4516615 | 700074 | A |
| 2015-16 | 270 | 5454100 | 700000 | 1212171 | 11247775 | 8039140 | 780560 | A |
| 2016-17 | 268 | 6989200 | 700000 | 1326671 | 13901750 | 9467166 | 1057066 | A |
| 2017-18 | 269 | 7497600 | 10000000 | 1053271 | 16274740 | 9678120 | 1201226 | A |
| 2018-19 | 258 | 8332300 | 10000000 | 1300671 | 18130330 | 8423319 | 1259120 | A |
| 2019-20 | 247 | 8723340 | 10000000 | 1278071 | 21220205 | 10718688 | 1317574 | A |
GOA MILK UNION EMPLOYEES COOP.CREDIT SOCIETY LTD., CURTI PONDA GOA
AMENDEMENT OF BYE LAWS FROM TIME TO TIME
| Bye Law No. | Particulars | Amount | Date of Amendment | |
|---|---|---|---|---|
| From | To | |||
| 9 | Authorised Share Capital | 0.00 | 10000.00 | 08.08.1988 |
| 9 | Authorised Share Capital | 10000.00 | 1000000.00 | 12.10.1995 |
| 9 | Authorised Share Capital | 1000000.00 | 2000000.00 | 12.11.1997 |
| 9 | Authorised Share Capital | 2000000.00 | 3000000.00 | 19.04.2006 |
| 9 | Authorised Share Capital | 3000000.00 | 5000000.00 | 25.02.2011 |
| 9 | Authorised Share Capital | 5000000.00 | 10000000.00 | 18.01.2016 |