A Amuthu Departmental Store is a voluntary association of persons and is registered under Grama Consumer Cooperative Society department, a Amuthu Departmental Store is a retail unit owned and controlled by consumers. Any consumer can join the consumer cooperative store by buying its shares. Each member has only one vote irrespective of his shareholding.
Members get dividends in proportion to their shares held in the Amuthu Departmental Store. Amuthu Departmental Store are run by the consumers themselves for their mutual benefits, the membership of these stores is open to the entire citizen.
This society has shareholders (citizen), board of directors, chairman, vice – chairman and secretary. The purpose of consumer co-operatives store is to offer goods and services at the lowest cost to the common man.
Benefits of Amuthu Departmental Stores:
- Consumers get goods of good quality.
- Goods are sold without adulteration.
- Goods are sold in correct measurement. Irregularities found in measurement of goods are avoided.
- Middlemen are eliminated.
- Prices are comparatively cheaper.
- Regular supply of goods assured.
- No credit is allowed. So, no fear of bad debts
- Amuthu Departmental Stores are located conveniently in residential areas; thus they are quite accessible.
Vision
Formed to provide consumer goods at reasonable prices, eliminating middlemen by purchasing directly from producers. Supports small producers by providing necessary production items such as raw materials and equipment. Assists small producers in marketing their products by collectively selling on their behalf.
Mission
Small farmers form these societies to gain benefits of large-scale farming. Provides financial assistance to members by accepting deposits and granting loans at reasonable interest rates
Our
Services
Grama Consumer Cooperative Society also provide loans to members at low rates of interest, protecting the members from massive debts to traditional moneylending agencies. We serve a basic but highly personalized banking role in a sense. We have deposit schemes in forms of saving accounts, FD, RD, pension schemes, etc. The money procured is then given on loans to members as personal loans, agricultural loans, housing or vehicle loan, etc. Grama Consumer Cooperative Society are regularly aided by state and national government subsidies and funding.