Membership

A) Members:-

“Member” means all the categories of staff working in the Pondicherry University on regular basis may become members of the society. They are called "A" class members and get share from this society eligible for membership by remitting a share of Rs.100/- each. "A" class members rights to voting power and eligible for getting surety loan from this society and earn dividend of their shares of the society profit.

Pondicherry University Staff who are already member of other Staff Co-operative Thrift & Credit Societies in the Puducherry Region like Public Servants Co-operative Credit, Group B & C Co-op. Credit Society, Gazette Officers Co-operative Credit Society, Urban Bank, Puducherry State Co-Operative Bank, etc. are not eligible to become Member (). Any staff can join as a member of this society only after producing Non-member Certificate from the concerned societies.

Membership shall be closed by a member after 2 years of membership on personal grounds except in the case of transfer/death or/ otherwise. The Staff who closes the membership are not eligible to become a member of the society for five years from the date of closing the membership. Members who have retired/superannuated can become only associate members after closing their old accounts.

B) Associate Members:-

Retired Staff or any other persons can become an Associate member of this society. They are called "B" class members and enrolled the member with share of Rs.5/-each. They are not eligible for availing any type of loans or dividend from this society and also not a voting power. They can avail the fixed deposit facility and get interest only.

Source of Fund

The main source of fund for the Society as follows.

• By availing loan from financial bank of the Pondicherry State Co-operative Bank
• By collecting Thrift Deposit from members
• By collecting Fixed Deposit from members and associate members

Borrower and Surety

• It is the responsible of the borrower to pay the monthly dues regularly to avoid the un due hardship to the society.
• The surety should also watch the recoveries of his/her counterpart (borrower) or otherwise the amount will be recovered through surety’s salary.
• The member shall clear all the recoveries either as borrower or as surety before the retirement to enable the society to issue No Dues Certificate.

General Body Meeting

Every year the society shall convene the General Body meeting as a statutory measure after the completion of the Audit, The General Body shall pass the Audit and statement of Accounts, Budget Estimate, Income and expenditure, Profit allocation and along with declaration of dividend and bye-law amendments if any proposed by the Management or Co-operative Department.