Instituational Structure

General Assembly

All the shareholders form part of the general assembly. It is mandatory for the General assembly to have an annual general meeting within six months after every fiscal year. The quorum for an annual general meeting shall be 25 percent of the total membership. The General assembly in the annual general body examine and endorse the annual accounts. General assembly elect the Executive Committee (Board of Directors) and the Accounts and Supervisory Committee. Executive Committee and Accounts Committee are elected for the tenure of three years. Extra ordinary general meeting can be convened in special occasions. The bye-law can be amended by a two-third majority of the members present at the general meeting.

A policy statement on election of office bearers of various committees is in place and elections are done in democratic way of secret ballet. An election committee constituting of three members is responsible for conducting fare elections.

Executive Committee (Board of Directors)

The Executive committee consist of 11 members elected by the General Assembly. The tenure of an elected board is for three years. The General Assembly can re-elect an outgoing member. The Executive committee meets monthly on every first Saturday. The deliberations during the meeting are recorded. Executive committee generally deliberate on loan sanction, performance indicators, processing external borrowings, etc.

Executive Committee members are qualified, experienced, trained in managing cooperatives by national and internal agencies and had exposure to co-operative institutions in other countries like India, Bangladesh, Srilanka and Philippines. As the executive committee members are from the community they had the commitment to work for the betterment of the community.

The Executive committee members are restrained from accepting remuneration from the Cooperative for being board member. Executive committee members are also restrained from taking loan from the institution during their tenure as executive members to ensure fare and transparent decision making. The Manager responsible for the day to day administration is an ex-officio member to the Executive Committee with no voting rights. Thus the board comprises of 100% independent members.

Executive committee has two sub-committees for its smooth functioning.

• Loan committee – constituted by Executive Committee has two nominees from the General Assembly and a coordinator from the Executive Committee. Loan Committee convenes at the request of the manager or the senior loan officer and decides on the loan proposals.

• Education Committee – constituted by the Executive Committee and its main function is to train the members on cooperative principles, policy changes, product features etc. Introductory information meetings to encourage new members to join the programme are also conducted by this committee.

• Special task committee –Executive committee constitutes special task committees to perform specialised tasks. Presently Scholarship Committee is now working on scholarships to the best performers among the member’s children.

Accounts and Supervisory committee

Besides the Executive Committee, the General Assembly elect a three member committee including one coordinator for tenure of three years. The account committee perform the internal audit of the organisation in a regular basis and give suggestions to the board. The account committee submits its report to the general meeting every year.