St. Thomas College Staff Co-operative Society

The society envisages the promotion of thrift, and mutual help. Major functions of the society include granting of loans, accepting deposits and conducting group deposit and credit schemes. It is run by a board of directors elected from among the members of the staff of St. Thomas College, Alphonsa College and St. Thomas College of Teacher Education, who hold class A membership in the society.

The society offers four types of membership viz. (1) Class A for permanent employees of the three colleges, (2) Class B for retired employees and members of the families of A/B class members (3) Class C for any persons for the purpose of receiving deposits and (4) Class D for different heads of institutions, departments and hostels associated with the three colleges for the purpose of receiving deposits.

At present, the A class members are eligible for loans upto Rs. 25 lakh at the lowest rate under various schemes viz. (1) Ordinary loan, Rs 10 lakh, (2) housing loan Rs. 20 lakh (both for a maximum repayment period of 120 months), (3) cash credits Rs. 10 lakh for the year and (4) consumer and vehicle loan Rs. 5 lakh for five years. The society also offers scholarships to the children of its members, who excel in various university/ board examinations as well as sports and cultural activities. At present Dr. Biju K. C. is the Hon. President and Sri. Joji Jacob is the Hon. Secretary of the Society. One permanent employee is working in the society: Sri. Sajumon V. J. Assistant Secretary.