Cooperative Society – Shillong College

BRIEF HISTORY OF THE SOCIETY:

The Shillong College Employees Mutual Benefit Fund and Consumers Cooperative Society Ltd (formerly known as Shillong College Employees Cooperative Mutual Benefit Society Ltd. came into existence in on 8^th July 1989 with 39 members only. Basically, Shillong College Employees Cooperative Mutual Benefit Society Ltd. is a credit co-operative society like any other common cooperative is India which aims at accumulating capital money and then provide loan to the members. At the beginning the authorized Share Capital of the society is 2,00,000.00 (Rupees Two Lakhs) only which is divided into 24000 shares. But at present Shillong College Employees Cooperative Mutual Benefit Society Ltd. is more than a credit Co-operative society. At present the Authorized Share Capital of the society is 48, 00,000.00 (Rupees Forty-eight Lakhs) divided into 24000 shares each of value Rs. 200.00. The maximum loan that a member may avail is Rs. 6 00,000.00 (Rupees Six Lakhs) at a rate of interest fixed at the AGM. Every year the society paid Dividend and Interest to the members. At present there are 124 members in the society.

The society extends its activities to provide service to the students. In this regard, Students Service Centre (SSC) was started in 2014. Books and stationery are sold at discount price. A part of the net profit earned from SSC is contributed to Shillong College Employees Social Maintenance Scheme of the college. AIMS AND OBJECTIVES: The Society was constituted on the following Aims and objective:

To encourage thrift, self-help, cooperation among the members.
To encourage members to save by receiving monthly contribution from them by deduction from their pay.
To create funds, to make advances to the members of the society.
To invest money in some profitable concern for the benefit of the members and the constitution as a whole.
(ii) To invest money with a profitable scheme such as consumer activities, multipurpose students’ facility centreetc .for the welfare of the members and the students.
To secure suitable benefits for the members and their families in distress.
To do all such other acts as are conducive or incidental to the attainment of the above objective.

Board of Directors: The affairs of the Society were conducted by the 9-members Board of Directors (formerly known as Managing Committee) constituted by the AGM. The first Managing Committee was constituted on 8^th July 1989 when the Inaugural General Meeting of the society was held. The Inaugural General Meeting elected the Following as the members of the Managing Committee of the society.

President: Sri. R.K Dutta
Vice-President: Sri. B.C. Jyrwa
Secretary: Dr. S.K. Gupta
Treasurer: Sri. K.D Roy
Members: i. Dr. S.N Dutta
Sri. B. Roy

iii. Smt. O. Kharkongor

Sri A.K Gurung
Sri. D. Bhattacharjee

At Present the BODs members are

President: S. Sarma
Vice-President: R. Pyngrope
Secretary: L. Khongiang
Treasurer: P. Kipgen
Members:
1. G.R. Rumnong
2. Amina Marbaniang
3. Sri B. Dohling
4. Sri A.D. Jyrwa
5. D. Kharmujai.

The term of BODs members is for a period of five years.

The Shillong College Employees Mutual Benefit Fund and Consumers Cooperative Society Ltd is an ideal example of successful association of people for all round development of its member and now the service is extended to the student’s community. In order to help the students, the Managing Committee of the Society in consultation with the college authority started the Students Service Centre in the year 2013. The objective of starting the Students Service Centre is to facilitate the students to procure good books prescribed or recommended by the teachers at concessional rates which ease out the burden of the parents and save a lot of time for the students. According to the students, the students’ service centre is a one-stop store for all their needs. All Books and stationery are sold to the students at concessional rate. Books are directly ordered from the publishers.

Activities