Kundapur: Rosary Credit cooperative society announced 16% dividend during the 25th general body meeting held recently at St Mary’s School, Kundapur.

“16 % dividend was announced during the 25th general body meeting of Rosary Credit Co – Operative Society, Kundapura. The society is progressing year by year and in the financial year 2015 -16, it made a net profit of Rs 36,94,844.24. Based on this 16 % dividend was announced to its shareholders,” said Johnson D’Almeida president of the society.

“Society is in the profitable path with the help of the elders. Our motto is to help the society and make it better,” he further added.

In the coming years management and committee has decided to expand their business in the Udupi district. Presently Padukone branch has got its own premises. In the coming days, their own premises at Basur will come up. More facilities will be provided to the customers.

Nearly 33.61 percentage of deposit has increased in the financial year. Society is giving a good percentage of interest on deposits, loans for various facilities, safe locker facilities at lower interest. Western union money transfer and other facilities will be available in the society.

President, Fr Anil D’Souza said, “We have made a substantial growth considering all in the society. Anybody who becomes part of the society will get the benefits thought it.”

John Menezes, vice president, Philip D’costa, Branch Sabapathi Basur, Martin Everestha Dias, Branch Sabapathi, Byndoor, Kiran Melvyn Lobo, branch Sabapathi Padukone, Jacob Dsouza, Vinod Crastro, Gerald Nuthan Crasta, Stany Dsouza, Shanthi Carvalho, Pascal D’Souza, C.E.O. and Mabel D’Almeida Branch Manager and others were present during the meeting.

John Menezes welcomes the gathering and gave the introductory speech. Pascal Dsouza presented the annual report. Gerald Crasta proposed the vote of thanks. Vinod Crasto compered the program.