Mangalore Diocese News

Media Release

Madanthyar, May 2 : Sacred Heart Credit Co-operative Society, established by Madanthyar Church and located in Sacred Heart Complex, Madanthyar was inaugurated on Friday May 1 , 2015.

Addressing the gathering after inaugurating the Society, Fr Lawrence Mascarenhas, parish priest, Madanthyar Church, said, "A society will improve when the people in it become financially stable. This Co-operative Society will respond to the aspirations of the people. It has been established for the economic development of the people."

Lancy Pinto, president, Sacred Heart Credit Co-operative Society, who presided over the programme, said that the people had cherished the dream of starting a society in Madanthyar 15 years ago. “The determination of the people has made this dream a reality," he said.

"Though it is confined to Belthangady-Bantwal for the time being, it will gradually help people in their financial needs at other places too as more branches will be opened," added Fr Mascarenhas.

Madanthyar church assistant parish priest Clifford Simon Pinto, zilla panchayat member Thulasi G Harabe, Madanthyar grama panchayat president Sushila, vice-president Abdul Rahiman Padpu, Church vice-president Gregory Sera, Madavu Temple managing trustee Monappa Poojary, and Sacred Heart Co-operative Society vice-president Blanny D’ Souza were present.

Joel Mondonca welcomed. Leo Noronha proposed the vote of thanks. Vivek V Pais compered the programme.

Fr Lawrence Mascarenhas is chief adviser of the Co-operative Society, with assistant priest Fr Clifford Simon Pinto as adviser. Lency Pinto is the president of the society, and Blany Claire D'Souza the vice-president. Cyril Sequeira, Joel Mendonca, Philomena Gonsalves, Gregory Serrao, Celestine D'Souza, Henry Moras, Leo Rodrigues, Vivek Vincent Pais, Ronald Sequeira, Leo Noronha, Felix D'Costa, Gracy D'Souza and Hubert Lobo are the directors of the society.

Under loan facility, it grants loans for purchase of vehicles, loans against pledge of gold ornaments, finance for small business, house construction loans, overdraft facility, for business, against national savings certificates, for house repair, and non-agricultural loans. The other advances being extended by the society are assisting, supporting, and giving loans to self help groups, accepting investment under 'Sankalpa' scheme which offers high dividend to share holders, collection of daily deposit, special schemes for loan repayment etc. The society is equipped with a staff that has rich experience in the field of banking and expertise in other fields. As far as security is concerned, strong room with the use of ultra modern technology and CCTV cameras has been provided. The society lays emphasis on overall growth backed by attractive and progressive policies and aims.