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picCEO's Report

Financial Year 2023-2024 has been a milestone in the history of Pride Credit Co-Operative Society Ltd where we have come to our potential. Since the inception of the Society in 2013 and from the re birth in 2021 with a new Board in power, we have moved extensively well towards a reputed financial institutions with its pillars strongly rooted in stability, sustainability, profitability and reliability. I want to thank the Board of Directors, my fellow staff members, the warriors of our society our business affiliates, investors, stake holders, and above all our members for their continuous support and trust shown in the Society. Together we have made this place better, trustable and honorable place.


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It gives me utmost happiness to share with you that society's overall business as on 31st March 2024 stands close to at 313 Crores, an increase of 145 % absolute growth. The total deposits collected in FY 22-23 which stood at 66.62 Crores which has increased to 173.01 Crores for the FY 2023-24 with more than 160 % growth. The total loans & advances disbursed stood at 53.93 Crores in 22-23, which increased to 109.54 Crores for FY 2023-24 with a growth rate of 103 %. Thanks to the trust bestowed upon us by all stakeholders of our society, we have surpassed the milestone 300 Crores of total business in FY 2023-24. Our most valued member strength as of 31st March 2024 stands at 52203 members with paid-up capital of 15.03 Crores with an increase of almost 118 %. A collective effort from our members, Business Affiliates & staff and the continued trust of our stake holders saw us sail through many challenges, ensuring we stay ahead, and creating value all the way.

Some Key Milestones for the last Financial Year would be:

  • Pride Credit Co-Operative Society Ltd have moved in our head office into our own State of Art building in the heart of Kozhikode town - a feat which even the matriarchs in Co-Operative segment are not able to achieve.
  • Pride Credit Co-Operative Society Ltd is one of the rare profitable Multi State Societies in the country and declaring dividend to its members. It gives me profound happiness in declaring a dividend of 4 % against their share capital which is also approved by the Board of the Society.
  • Pride Credit Co- Operative Society has opened a Zonal office in Aluva for the purpose of streamlining our loan and business operations, ensuring that we have professionals placed in the heart of the State of Kerala to cater and process all the loans processed by the Society in a timely manner with efficiency and precise evaluation.
  • Pride Credit Co-Operative Society Ltd is one of the very few Co-Operative institutions in our domain who share the profit share to the Co-Operative education fund maintained by National Co-Operative Union of India to support week Co-Operatives across the country.
  • With fully functional Core Banking System, information is on the finger tips to ensure that Pride Credit Co-Operative Society keep up with the best in technology.
  • Business growth in terms of both Liability and Asset resulting the Society to move into the league where we are profitable, regulatory compliant, process oriented and have a Clear Vision.

We have a goal, and that we need to achieve together, we must become the best Co-Operative in our operating states, the coming days we are going ahead and chase our goal and dream, together we march forward.

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