MM3242 The Private College Teachers and Employees Cooperative Thrift and Credit Society has been chosen as the ‘Best Employees Cooperative Society’ in Madurai District for the year 2011-12. The award was given by the Minister for Cooperation Mr.Sellur.K.Raju in the function organized in commomeration with the State level 54th Cooperation Celebrations Week, held at Madurai on 20-11-2012

The Private College Teachers and Employees Coop Thrift and Credit Society was formed in the year 1988 with the efforts taken by the Office Bearers of MUTA and TANTSAC. The Society functioned at 11 West Perumal Mastry Street and later shifted to 6 Kakka Thoppu Street, the newly constructed MUTA office. The consistent growth of the Society is achieved by fulfilling the needs of the teachers and employees of private colleges.

The society is now with nearly 650 members with an outstanding credit of 15 crore rupees. During the financial year 2011-12, the society has earned a net profit of 55 lakh rupees. The society is giving 14% dividend for the shares of its members, consecutively for several years.

The Society is now providing jewel loan, 75% loan against the fixed deposit, in addition to the 5 lakh rupees mid term loan provided to the members of the society. Thrift Deposit, Recurring Deposit and Term Deposits are received by the society. The loans are sanctioned at a lesser interest rate and the deposits received are given a higher interest rate when compared to other commercial banks.

MUTA congratulates MM3242 The Private College Teachers and Employees Cooperative Thrift and Credit Society for its achievement.

For Contact:

Office 0452-2340658

Secretary 9443543858