Mangalore: The fifth branch of Sri Venkatramana Credit Co-operative Society(SVCCS), Sullia will be launched in Mangalore at Centre Point Building, Bendorewell on Sunday, May 11, informed A.V. Teertharama, president of the Society.

Speaking about the Co-operative Society he said, “The organisation during its birth in 1998 constituted 430 members with the total group investment amounting Rs 5,95,300. It now consists of 6,128 members and the group investment has reached Rs 1.38cr.”

“With an intention of extending the business and serving the people of Mangalore, we decided to start a branch here. The new branch will be inaugurated by D.V. Sadananda Gowda, former chief minister, Karnataka. M.N. Rajendra Kumar, president, SCDCC will inaugurate the security room. J.R. Lobo, MLA, Mangalore South, will inaugurate the computer section with the blessings of Sri Dharmapalanatha Swamiji, Sri Adichunchanagiri Shaka Math, Mangalore.

P.C. Jayaram, founder president of the Society, K.C. Sadanand Kurunji, vie-president, Nityanand Mundodi, past president, Chandra Kolcharu, director and K.T. Vishwanath, CEO were present among others during the press meet.