Co-Operative Thrift Society

Objectives

The Govt. Employees Co-Operative Thrift and Credit Society Limited (YT 45) of Periyar EVR College, Trichy-23 is fostering the necessity of savings among the employees of Government Sector. On 09.05.1981, it was registered and is functioning from12.05.1981 till date. The activities of this limited are governed by a President, Vice-President and nine Directors. Members of this society include: Teaching and Non-teaching fraternity of all Government Colleges (Trichy Region), Prison Department of Tamil Nadu Police, Welfare (Social), Department of Govt. Examinations and Personnel from Law College, Trichy. Thrift and credit society meetings are conducted and the record of the account is maintained and audited

It is a voluntary association usually unincorporated to promote thrift and for the collective investment of the savings of the members. Many of the Government staff members avail this facility by becoming the member of the society. Having 510+ members as the strength, it renders services to its members with a facility of receiving loan of Rs.7 lakh as the maximum limit with rate of interest of 13.5%. By proper application they avail the loan amount without any difficulty in time.

The Thrift society is a separate entity and for the government employees of Tiruchirappalli district is functioning in our college campus. A full time officer is maintaining the accounts and conduct regular meetings. Yearly meeting is conducted during the festive season and the account is placed before the members. After the approval of the committee members, the dividend amount is given with a small incentive to all the members. They have common meetings at certain period. All the members from other districts meet at one place and discuss the regulations to be followed and to be changed.