Akkineni Nageswara Rao College
Akkineni Nageswara Rao
Anr College Group

Employees’ Co-op. Credit Society

A.N.R. College Employees’ Co-operative Credit Society Ltd.,
No. Y 249, Gudivada

The A.N.R. College Employee Co-operative Credit Society Ltd. No. Y. 249, Gudivada was established in the year 1974 to provide an opportunity to the staff of A.N.R. College, both teaching and non-teaching to get easy and liberal financial assistance in times of emergencies without any collateral. In the initial years of its establishment, Society used to provide a maximum loan facility of Rs. 3,000/- only to the members by getting the refinance facility from the Krishna District Co-operative Central Bank Ltd.

By organizing its activities with its own funds the Society has been recognized as ‘A Class Society’. A new Executive Board got elected under the President ship of Sri U. Surya Kumar, In-charge, Department of Mathematics, at the elections that took place on 16th September, 2009.

Over time, through its organizational skill and efficiency, the Society could make its financial position very strong by accumulating the reserves. In the post-accreditation period the society has been meeting its financial requirements to the tune of Rs.3,00,000/- without depending on Central Bank. There has been a terrific increase in the sources of the Society. The Society paid a dividend of 18% from 2008-09 onwards on its share capital.

As per Audit report for the year 2014-15

  • No. of members: 49
  • No. of Long Term loans 44
  • No. of Short Term loans 355
  • Share Capital: Rs. 9,75,100/-
  • Thrift Deposits: Rs. 8,82,550/-
  • Fixed Deposits: Rs. 9,95,409/-
  • Reserves (under different heads): Rs. 14,22,557/-
  • Building Fund: Rs. 12,24,151/-
  • Bad Debt Reserves: Rs. 2,88,083/-
  • Common Good Fund: Rs. 3,00,989/-
  • Annual Turnover: Rs. 1,14,35,000/-

Thus the A.N.R. College Employee Co-operative Credit Society has been effectively strengthening the cooperative movement by working with employees.

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