Udupi: The Udupi Catholic Credit Co-operative Society has been honoured with the achievement award at the SCDCC Bank general meeting held on Saturday, recognising its strong financial performance and contribution to the co-operative banking sector.

The award was presented by Sahakara Ratna Dr M N Rajendra Kumar, chairman of SCDCC Bank, to society president Louis Lobo and chief executive officer Sandeep Fernandes.

Distinguished gathering at award ceremony

The ceremony witnessed the presence of key personalities from the co-operative sector. Among them were vice-president James D’Souza, directors Maxim R D’Souza and Onil D’Souza, SCDCC Bank directors Belapu Deviprasad Shetty, Rajaram Bhat, Bhaskar Kotyan, Dakshina Kannada district deputy registrar of Co-operative Societies H N Ramesh, Udupi district deputy registrar Lavanya, Udupi District Co-operative Union president Jayakar Shetty Indrali, and several other dignitaries.

Financial performance and growth

Founded in 1997, the Udupi Catholic Credit Co-operative Society has grown steadily to become a prominent player in the co-operative banking landscape of Karnataka.

As of March 31, the society reported:

  • Rs 50 crore in deposits

  • Rs 42 crore in outstanding loans

  • Rs 52 crore in working capital

    • For the financial year 2024–25, the society recorded a total business of Rs 250 crore, a profit of Rs 94 lakh, and declared a dividend of 18%, underscoring its efficient management and financial prudence.

    Role in community development

    Speaking at the event, SCDCC Bank officials commended the society for not only achieving impressive financial results but also actively supporting small businesses, farmers, and self-help groups in Udupi district.

    “Co-operatives like this reflect the spirit of collective growth and financial inclusion,” said a senior official present at the function.

    Looking ahead

    With its strong financial base and commitment to co-operative values, the society aims to expand its services, enhance digital banking solutions, and provide more community-centric financial products in the coming years.