7 August, 2018
The meeting of Don Bosco Credit Society

In the year 1973, the management at Don Bosco Matunga initiated the ‘Teachers Welfare Fund Scheme’ to inculcate in its staff members the habit of saving and to avail of a loan facility which would help them tide over their financial crisis. The next few years, this scheme blossomed and in 1979, it got registered as ‘The Don Bosco Credit Society’ under the Co-operative Society Act No.942.
Over the years, The Don Bosco Credit Society has kept fruitfully growing. It started off with a membership for teachers only. Today, the membership has widened to include non-teaching staff and house employees too. Each member contributes a fixed amount of their salary every month towards their credit society saving account. This earns them an interest which is also credited in the same account, and also provides opportunity for a loan that can be repaid over a stipulated period of time.
Every year, the society holds its Annual General Body Meeting. At the meeting, the agenda is followed wherein important related issues are discussed. A delicious lunch and a dividend is also a feature of the meeting. This scholastic year the meeting was held on Saturday 4th Aug 2018. Mrs. Christina Mascarenhas welcomed the gathering after which the Rector, Fr. Crispino D’Souza led the congregation into prayer.Mrs. Lakshmi Krishna read the minutes of the meeting held on 2nd Aug 2017 and proposed the items on the agenda. This was followed by the presentation of the balance sheet of the year ending 31.3.2018. Thereafter, Fr. Rector declared the dividend for 2017-18, and following the vote of thanks there was the distribution of the dividend to the members of the Credit Society.