Our Head Office

St.Milagres Credit Souhardha Co-Op Society Ltd., Karwar

Head office was set up in the year 2005 for the smooth and systematic functioning. In the beginning it was situated at the Karwar Branch premises.

The Management had a vision of developing the institution and adding up more branches to serve the society. In order to administer the proper functioning of all the branches a separate head office was set up in new building at Sonarwada, Karwar. A completely furnished office of 3000 sq.ft space with a Conference Hall, Computers, Internet facility, efficient Staff Members for specialized sections were set up like Planning, Establishment, Accounts, Loans & Recovery.

Each Section takes care that plans envisioned are put into actions and goals are achieved.

Head Office General Manager


Designation: Head Office General Manager

Head Office General Manager is like a superintendent to all the branches of our Co-operative. Head Office General Manager organizes and supervises all the administration activities that facilitate the smooth functioning of all Branches. Head Office General Manager has the responsibility for ensuring that the office runs efficiently.

Planning Officer:


Designation: Planning Officer

Planning and prioritizing work in an important aspect of any organization. In our co-operative to a separate planning section which takes care of this. This section is head by the Planning Officer. The main role of Planning Officer is to ensure that all the banking business activities are updated. The role mainly includes the implementation review monitoring and more importantly timely evaluating of the branch growth. Staff selecting and placing the right person at right role also is done here.

Development Managers:

  • MR.VINOD MADIVAL Development Manager

  • MR. FRANKLINE FURTADO Development Manager

  • MR.FARZAN SHAIKH Development Manager

  • MR. Rohan Naik Development Manager

  • MR. RIYAZ AHMED Development Manager

  • MR.SANTOSH REVANKAR Development Manager

  • MR.JOYSTON PINTO Development Manager

  • MR.CHANDRASHEKAR NAYAK Development Manager

  • MR.GANESH KANCHUGAR Development Manager

Development Managers are executives who take care of the development of the co-operative. To ensure there is simultaneous growth in all branches the co-operative has appointed 5 development Managers. They are responsible to develop Co-operative business in the assigned area. They are also in charge for exploring and uncovering newer business opportunities to improvise quality of work without sanitation.

Accounts Section:


Designation: Accounts Manager

Account section performs the functioning of implementing and maintaining a system of internal controls which will ensure that the co-operative‘s assets are adequately safeguarded with as per Souhardha federation requirements. Accounts section is like a central processing unit which handles monitors and controls the funds inflow by an effective tool of fund management. It also performs periodical and audits and inspection to ensure smooth functioning of the branches.

Establishment Section:

Establishment section is mainly concerned with the various issues related to the staff personnel at co-operative. This section mainly takes care of the interview process for the branches. It takes care of training needs of the newly recruited staff personnel. Establishment section also ensures of employee welfare with positive relation to the Head Office and Management.

Loan Section:

This Section is responsible for managing the loan operation department of the co-operative. This section manages the daily operation in an efficient and effective manner. It is responsible to approve loans within specified limits and refer loan application s outside those limits to Management for approval. Timely interacting with the concerned loan advancing staff personnel at the branch to improve accuracies and efficiencies is one of the most important duties. Also analyzing applicant’s financial status and property evaluations to determine feasibility of granting loans.

IT Section:


Designation: IT Manager

The duties of a system administrator are wide-ranging, and vary widely from one organization to another. System admin are usually charged with installing, supporting, and maintaining servers or other computer systems, and planning for and responding to service outages and other problems. Other duties may include scripting or light programming, project management for systems-related projects.

Share Section:

Every customer who transacts with us is entitled to be the shareholder of our co-operative.

Depending upon the transaction amounts customers are issued shares with the face value of Rs 100/-. Once the customers hold the share, they also become eligible to earn year by dividends based on the profit incurred by the co-operative. At our head office, we have maintained an exclusive share section. This section handles the complete process of shares from issuing to sending it to respective branches; from there on, the shares will be handed over to the respective customers. Following are the few highlight of how the share section team works.

  • By default all depositors are eligible for being a share holder. Therefore after the customer consent, this information is gathered and saved on the software.
  • It is mandatory to have at least minimum of 1 share to savings account holder.
  • Any customer, who avails loan, too must compulsorily invest a certain percentage in share. The customer’s data’s are gathered from Branches and are assigned a unique share account number against the share.
  • Lastly, dividends are calculated and disbursed to the Branches to distribute the same to customers.

Insurance Section:

Insurance Section:

Milagres co-operative is in tie-up with 2 big insurance service providers, namely oriental insurance and life insurance cooperation of India. This tie-up has helped us to insure our customers in 2 categories (ie) General insurance and life insurance as the portfolio is a broad one, separate and independent section has been setup for handling the insurance work.

General Insurance:

Apart from provide advice on marketing a claim, this section also dose the processing of new insurance claims notification, collecting accurate information and documents, analyzing a claim, guiding policy holder on how to processed with the claim, contacting people from a network of approved professionals and arranging for them to make repairs of the policy holder, monitoring policy of the claim are few responsible insurance section to be mentioned ,ensuring fair settlement of a valid claim.


St. Milagres cooperative is a corporate agent and we can get a customer’s life insurance policy done through all our branches. Our branch’s have been provide with sub agent code which facilitates easy login and quick processing of paper work for customers.

Value Added Section:

The most Significant Section hails at our Co-operative is the Value Added Services department, From this Sector a variety of Services are rendered to the general public under one roof. The highlighted services namely Issuing E-Stamping bond, transacting Domestic as well as International Money Transfer services, PAN Card & Health Card services. Apart from the above, the key structure of the section is handling the own website by updating the recent News & Happening.