About Us

Sri Laxmanananda Multipurpose Co-operative Society Ltd, which won the hearts of the downtrodden by enabling them to access working capital, has now taken a step towards becoming a co-operative bank. Sri Laxmanananda Multi-Purpose Co- operative Society Ltd is making its mark in the co-operative sector of coastal Karnataka. It is gaining a reputation due to the various people-friendly measures and service to customers. The co-operative, which started by offering small loans to petty traders, auto drivers, beedi workers, and the like, now has an annual turnover of Rs 450 crore.

Sri Laxmananand Multipurpose Co-operative Society Ltd is the brainchild of senior leader, and mentor in the co-operative sector, Sri J. Krishna Palemar. It has been 27 years since he started his visionary project with like-minded directors. The head office is functioning at Jeppu Morgan’s Gate, Mangaluru. Sri Laxmanananda Multipurpose Co-operative Society Ltd was established on 7th December 1997 with the blessings of His Holiness Sri Narendranath Yogeshwareshwar Swamiji of Marakada Sri Guru Parashakti Math and is now serving as a large Co-operative. It is gaining the trust of thousands of people and has become a source of support for many. Sri Laxmanananda Multipurpose Co-operative Society Ltd strives to work for the common man by extending a helping hand to thousands of small entrepreneurs who earn their living through enterprise and have a desire to achieve. In addition, Sri Laxmanananda Multipurpose Co-operative Society Ltd is a beacon for the common man who is looking for support in professional life. It has encouraged thousands of small professionals like street vendors, vegetable sellers, and rickshaw pullers to lead a self-reliant life by providing loans for initial capital. It also offers suitable career guidance to them from time to time. It has given a new direction to the lives of thousands of people. Started in 1997, with a working capital of Rs 3 lakh, 9 directors, and 800 shareholders, the co-operative society now has a capital of around Rs 2.8 crores. With a total membership of around 5,500, this society has achieved a turnover of over Rs 450 crore in the last financial year, which is a milestone.

Agreement with HDFC

Sri Laxmanand Multipurpose Co-operative Society Ltd has tied up with HDFC Bank, a renowned private sector bank, and is geared to provide banking facilities such as its own app, ATM facility, and SMS updates. for its members.

27 years of meaningful service

For 27 years the society has been providing help to the common man in various ways and gaining the trust of the people. The silver jubilee was commemorated with the construction of a premises that is well-equipped with modern facilities, at a cost of Rs 8 crore. The Head Office functions in this building. Already having branches in Mangalore at Morgansgate-Jeppu, Hampankatta, Kavoor, Katipalla- Kaikamba and Ullal, it is preparing to open new branches across Dakshina Kannada district i.e. Puttur, Bantwal, Bajpe, and Padil and aims to open branches in other districts as well.
The society supports street vendors, vegetable vendors, and auto drivers who need financial assistance in the form of capital, with the objective of making them self- reliant. So far it has given loans to more than 2500 auto drivers. Along with this, social service is being undertaken through free eye check-up camps, blood donation camps, support for the education of members’ children, and financial assistance to other needy organizations., thus fulfilling its intention to serve in all areas.

In 2022, the co-operative made a profit of more than Rs 1 crore and offered a dividend of 20% to the customers. Since its inception, the association has been receiving ‘A’ grade recognition till date. This is due to the visionary, systematic planning and implementation of its Founder Sri J. Krishna Palemar. In addition to this, with the cooperation of the members of the Board and the staff, the co-operative is progressing on the path of development and poised to become a Co-operative bank.

Sri Laxmanananda Multipurpose Co-operative Society Ltd remains dedicated to its founding principles, working tirelessly to serve the public and enhance the lives of its members. With plans for further expansion and the implementation of digital banking services, it is poised for continued growth and success.

VISION

To be the trusted financial partner for all segments of society by providing accessible, innovative, and inclusive financial solutions. We aim to be a beacon of trust and support in the cooperative sector, fostering self-reliance and economic growth.

MISSION

Our mission at Shree Laxmananand Multipurpose Co-operative Society Ltd is to ensure that finance is easily reachable and of superior quality for all sections of society. we are committed to providing accessible and high-quality financial services that cater to the diverse needs of our community. By leveraging innovative solutions and maintaining a customer-centric approach, we aim to break down barriers to financial inclusion, empower individuals and businesses, and support the underprivileged.