Ignatius Monis Unanimously Elected as the President of the Udupi Catholic Credit Cooperative Society

Report by Eugene Moodubelle
Bellevision Media Network

Moodubelle, 21 March 2010: On 18th March 2010, Mr. Ignatius Monis of Moodubelle was unanimously elected as the President of the Board of Directors of the Udupi Catholic Credit Cooperative Society for a term of two and a half year term which is extendible for a further period of two and a half years.

Prior to the unanimous election of Mr. Ignatius Monis as the President, on 12th March 2010, eight members of the Board of Directors of the Udupi Catholic Credit Cooperative Society were elected unopposed. These eight Directors are: Mr. Ignatius Monis (Moodubelle), Mr. Felix Pinto (Kemmannu), Mr. Louis Lobo (Kalmady), Mr. Percy Joseph D’Souza (Kallianpur), Mr. Louis D’Almeida (Manipal), Mr. James D’Souza (Yermal), Mr. Archibald D’Souza (Thottam), Mr. Franklin Menezes (Kalmady) and Mrs. Ida Celestine Alva (Udupi).

The Udupi Catholic Cooperative Credit Society was founded in the year 1998 on the initiative of Mr. Ignatius Monis and Mr. Louis D’Almeida, who were respectively the President and the Secretary of the Catholic Sabah of the Udupi Varado. The credit society was initiated with the view of providing credit to the members of the Catholic community that is spread across the Udupi Varado. The Udupi Catholic Credit Cooperative Society was thus born with the initial share capital of 6 lakhs of rupees collected as shares from around 600 shareholders.

In the beginning there were 11 members in the Board of Directors and the first President of the Board of Directors was late Denis D’Silva who was the first Head Master of the St. Lawrence High School of Moodubelle when it was founded in 1959.

With the passing years, the Udupi Catholic Credit Cooperative Society registered a steady growth. According to Mr. Ignatius Monis, the new President of the Society, the present share capital of the Society is 20 lakhs of rupees and the total turnover is more than 3 crores of rupees. There is a plan to widen the operations of this Cooperative Society by opening new branches. The first such branch would be opened at Kalmady in the near future. Presently, the main central office of the Udupi Catholic Credit Cooperative Society functions from the first floor of the Christa Jyothi Complex on the K.M. Marg, Udupi with four staff members.

Bellevision congratulates Mr. Ignatius Monis on being unanimously elected as the President of the Board of Directors of the Udupi Catholic Credit Cooperative Society and wishes him success in expanding the Society.