Who we are:
Godavari Andhra Co-Operative Society Limited is a voluntary association of persons, who unite together with the motive of the welfare of the members and promote their common economic interests. They are driven by the need to protect their economic interests in the face of possible exploitation at the hands of middlemen obsessed with the desire to earn greater profits. Our Society is a free and unconstrained organization for such individuals, who are able to utilize its services and agrees to accept the responsibilities of membership without any gender, social, ethnic, political and religious discrimination.
Godavari Andhra Co-Operative Society Limited has registered under ANDHRA PRADESH MUTUALLY AIDED CO-OPERATIVE SOCIETIES (AP MACS) ACT 1995, an act to provide for the voluntary formation of co-operative societies as accountable, competitive self-reliant business enterprises, based on thrift self-help and mutual aid owned managed and controlled by members for their economic and social betterment and for the matters connected therewith or incidental thereto.
Where a Cooperative society Limited is registered, the certificate of registration signed and sealed by the Registrar shall be conclusive evidence that the cooperative society mentioned therein, is a mutually aided cooperative society duly registered under this Act. Provided that where a society was earlier registered under the Andhra Pradesh Cooperative Societies Act, 1965, such registration shall stand cancelled once a certificate of registration under this section is issued.
Godavari Andhra Co-Operative Society Limited is for not only the rich but also the common man should keep money in our bank, our aim is to support their financial needs and solve their financial problems. Our intention here is that every person should save. Our success is to fulfill their financial goals by adding profit to every rupee they earn hard. People’s trust is our development. Their benefit is our progress. Our promise is the highest interest rate, safest investment.
The functions of Godavari Andhra Cooperative society Limited vary depending on the type of society, but some common functions include:
- Providing financial services to members. …
- Promoting economic development among members. …
- Representing the interests of members to government and other organizations.
- Voluntary association: Everyone having a common interest is free to join a cooperative society and can also leave the society after giving proper notice.
- Legal status: Its registration/ Membership in Society is compulsory and it gives it a separate identity.
- Democratic control: Management and control lies with the managing committee elected by the members by giving vote. Every member has one vote irrespective of the number of shares held by him.
- Service motive: The main aim is to serve its members and not to maximize the profit. The formation of a cooperative society is for the welfare of the weaker sections of the community. If the cooperative society earns profit it will be shared among the members as dividend.
- Under state control: In order to safeguard the interests of society members, the cooperative society is under the control and supervision of the state government. The society has to maintain accounts, which will be audited by an independent auditor.
- Distribution of surplus: The profit is distributed on the basis of volume of business transacted by a member and not on the basis of capital contribution of members.
- Ease of formation: It can be started with minimum of 11 members. Registration is also easy as it requires very few legal formalities.
- Stable existence: Due to registration it is a separate legal entity and is not affected by death, lunacy or insolvency of any of its members.
- Economy in operations: There is economy in operation due to elimination of middle man and voluntary services provided by its members.
- Social utility: It promotes personal liberty, social justice and mutual cooperation. They help to prevent concentration of economic power in a few hands.
Contribution to the rural economy:
The role of Godavari Andhra Co-Operative SocietyLimited in rural development can be very significant and beneficial for the rural economy. We will discuss their role in the below paragraphs:
- Provide credit facilities:–Our Society can help their members – individuals or small businesses – in rural areas with financial assistance. Credit Cooperative societies are involved in disbursing loans at low rates of interest and flexible repayment terms. The role of cooperatives in rural development is crucial as they protect their members from private moneylenders who give loans at very high-interest rates. Credit cooperatives rarely raise large amounts of capital due to the limited financial resources of their members. However, they play a vital role in sustaining the viability of both agrarian and non-agrarian occupations in a rural economy.
- Housing facilities for lower-income groups: – Our Society in rural areas assist their members in getting a place to live. They are primarily involved in helping people from lower-income groups get housing facilities at affordable rates.
- Help consumers get affordable profit: –Our Society helps rural households get profit at relatively cheaper rates.Anyone who wants to deposit, savings becomes a member of Consumer Cooperative Societies.
- Assist small businesses to stay profitable: – Our Society help small scale entrepreneurs a platform to savings and deposits with highest interest rate.
- Share Profits among members: – Our Society was established to serve the economically weaker sections of rural communities. They distribute profits from the operations among their members as a dividend. These earnings are vital for the sustenance of rural households.
What We Pledge For:
Our Vision:To be the largest Cooperative Society among the Societies. aspires to facilitate the Voluntary formation and democratic functioning of Cooperative Societies based on self-reliance and mutual aid for overall economic betterment and financial autonomy.
Our Mission: To continuously strive to achieve higher standards of performance. To enable growth of the Cooperative Society through dissemination of best practices, professionalism and use of technology. To achieve higher growth better market penetration keeping the best interests of consumers in mind.
Self-help: Aim to create a community where every member/ customer benefits equitably. To achieve this, members actively participate in helping themselves while also assisting each other.
Self-responsibility: Within a cooperative Society, each individual member is individually responsible. They contribute to the group without external motivation or incentive, playing their part for the collective benefit.
Democracy: All members have equal control, and no single individual holds more power than others. Representatives are chosen through voting, ensuring fairness.
Equality: Every cooperative member should enjoy the same rights based on their level of contribution. Equality fosters a harmonious relationship among all members.
Equity: We treat all members fairly, without any form of discrimination. Equity is essential for maintaining a balanced and just environment.
Solidarity: Members within a cooperative form a unified organization, supporting one another. Additionally, cooperatives extend this solidarity by collaborating with other co-ops to create a strong network.
How we are Organized:
Our Organization: Godavari Andhra Co-Operative Society follows the organization scheme of the Cooperative Society. Below is the organization pattern of Godavari Andhra Society:
- General Assembly: Composed of all the members of good standing and entitled to vote and highest decision-making body of the Cooperative Society.
2.1: Audit: composed of Chairperson, Vice Chairperson and Admin responsible for the monitoring the effective performance of management and Contyrol Systems of the Cooperative Society. The Audit Committee performs financial, technical and social audit and submit annual reports to the District Cooperative Office, Guntur.
2.2: Election: composed of chairperson, Vice chairperson and directors responsible for election and organization matters.
2.3: Ethics: composed of chairperson, vice chairperson& CEO responsible for the maintenance of ethical standards in accordance with the provisions in the cooperated Society Laws.
2.4: Training& Placement:Admin &HR responsible for training and education of the members. Includes conducting of required seminars, Meetings.
2.5: Management Staff: composed of hire/ salaried personnel responsible for all support systems of the cooperative Society.
2.6: Sales Team: Deposit Section will responsible for sales generation, customer acquisition and retainment , which favors business growth.
2.7: Marketing & Operation:Marketing Section will responsible for the marketing, Conducting campaigns, advertising aspects of the Society.
2.8: Documentation: Front Office Staff will responsible for maintaining paper files, electronic files, or even databases. They develop and maintain systems for document storage, and are responsible for document security and access.
2.9: Enquiry: Legal Section will responsible for Enquiry. The main function of the Inquiry Committee/ Inquiry Officer is to follow the rules and principles of natural justice in disciplinary proceedings cases. The accused servant should be given an opportunity of producing the relevant evidence on which he relies.
2.10: Collection:Recovery Section will responsible for Negotiate payment schedules, act as liaisons between businesses and customers to collect debts and resolve outstanding balances.