Udupi: The cooperative sector’s primary goal is to increase the financial resources of the people, said Ivan D’Souza, Member of the Legislative Council, while speaking at the 28th Annual General Meeting of the Udupi Catholic Credit Cooperative Society for the year 2024-25. The meeting was held on Friday at the Udupi Shokamata Church Hall.
Cooperative sector strengthens economy
In his address, D’Souza highlighted how cooperative societies have become instrumental in meeting the financial needs of ordinary people by providing credit easily and without complicated procedures.
“Credit cooperative societies provide loans in a simple way without much paperwork. People have realised that doing business with cooperative societies is often more beneficial than with nationalised banks,” he said.
He pointed out that societies are accessible and supportive: “We can go to the society whenever we want and bring money to do business. They become a basis for fulfilling our demands.”
According to him, the success of the cooperative movement lies in its pro-people approach. “When societies work honestly and pro-people, a smile also comes on the faces of the customers. The cooperative sector has been successful in increasing economic resources and bringing happiness to the people,” he added.
Community welfare initiatives
The programme was presided over by Louis Lobo, President of the Udupi Catholic Credit Cooperative Society. Fr Leo Praveen D’Souza, Assistant Pastor of Udupi Shokamata Church, invoked blessings for the gathering.
On this occasion, the society felicitated students who excelled in SSLC and PUC examinations. Special honours were also given to achievers in various fields.
As part of its social responsibility, the society extended financial assistance for house construction and medical treatment to needy individuals. Additionally, two educational institutions received support from the cooperative society.
Participation and organisation
The event witnessed enthusiastic participation from members and beneficiaries. Vice President James D’Souza welcomed the gathering, while Director Maxim D’Souza delivered the vote of thanks. Steven Kulaso compered the programme.
The AGM also served as a platform to reaffirm the cooperative’s vision of being a financial partner for families and communities, promoting inclusive growth through collective effort.
Conclusion
The meeting underscored the importance of the cooperative sector in strengthening the economic foundation of people, especially in local communities. With continued commitment to honesty and people-centric service, cooperative societies like the Udupi Catholic Credit Cooperative Society aim to remain pillars of support in fostering financial independence and social development.