Chairmans's Message:

To establish a transformed holistic Christian society through Preventing Loan Defaulters of our Christian Cooperative Societies The Central Association of Christian Cooperatives (CACCO) Ltd. has been formed on May 1, 2007. Although the main goal is to prevent defaulted loans, CACCO Ltd. has been operating its interventions for the last 15 years and more to improve the quality of Christian cooperative societies. We the present Board of Directors were elected on last July 1, 2022 and took the charge on July 5, 2022. Heartfelt thanks and gratitude to all the previous Boards especially the board and its Chairman Mr. Nirmol Rozario who has brought today’s stage.

At present, there are 49 full member societies across Bangladesh. On July 19, 2012, during the registration at the Cooperative Department, CACCO's working area was limited to Dhaka Division only. Later, on January 5, 2023, through the order no. 03 of the Honorable Registrar and Director General of the Cooperative Department CACCO has been approved Mymensingh Division as the working area with Dhaka Division. Through this, CACCO Ltd. has now stepped beyond the division to the national level. In the last 12th Annual General Meeting, approval was given to amend the bye-laws to increase the operational area of CACCO across the country. We are pleased to inform that on March 20, 2024, through the order of the Honorable Registrar and Director General of the Cooperative Department No. 47.61.0000.065.33.003.16.63/1(76), the entire Bangladesh has been approved as the working area of CACCO Ltd. This achievement is ours; I sincerely congratulate everyone for their active cooperation in this long-awaited achievement. We believe, as a national federation of all Christian cooperative societies in Bangladesh, we will work unitedly and strongly to step forward CACCO Ltd.

CACCO's longtime dream was to establish its own office. Which has come into realty this year. This year, CACCO purchased an office flat of its own in Monipuripara, Dhaka, which was registered on June 15, 2022 with full settlement and inaugurated on June 18, 2022. Regular office activities are in operation from 1st January, 2022 in a beautiful and well-furnished own flat.

I am pleased to inform you that the 10 declarations were accepted and approved at the 4th Open Forum of CACCO held at Cox's Bazar. One of them was the establishment of CACCO’s own Office building and Training institute. The current management committee has started activities to implement the clause. Already some potential lands were inspected: 10 bigha land registry has been completed in Bhasania village of Parwan Mouja in Gazipur district. Hopefully we can start our own office building and training institute process soon. Also, investments in land projects have been made in the current financial year under the investment program as per the 11th Annual General Meeting decision and the 2nd Tri-Annual and Perspective Plan of CACCO. Among them, 24 plots of 3 Katha size have been purchased in Purbachal Probashi Palli located in Narayanganj district near Dhaka.

CACCO Credit Monitoring System (CCMS) program is ongoing to prevent loan defaulters. CACCO Credit Monitoring System (CCMS) software has been developed to smooth access to services in the shortest possible time by combining the lending system of member societies and our experienced knowledge. As the software is online database based, it can be used anytime from anywhere. To provide uninterrupted service we kept our server computer always on. Already 17 member societies are using the software regularly. All the member societies of CACCO are invited to connect with the CCMS software to increase their network and to keep their respective societies free from debt default risk.

Our Christian cooperatives are growing day by day and adopting modern software technology. But many societies are not able to maintain the accounts properly through the software because they are not skilled enough to operate the software or do not have the necessary training. As a result, a convergence is being observed between manual accounting and software accounting of the society. To address this issue, CACCO is conducting internal audit and accounting services with reputation to verify the transparency and accuracy of the accounting operations of the society. CACCO Ltd. performs both software and manual audits as per the requirement of the society. Our internal audit and accounting services are in great demand from member societies as well as external societies. At the same time, we would like to inform you that soon we will be re-initiated for approval of statutory audit of our member societies.

To make cooperative societies/credit unions’ sustainable, strong and self-reliant, quality training using modern technology is being organized regularly for cooperative society leaders, cooperative workers, students and potential youth leaders. Our training subjects are cooperative society management, account management, credit management, financial management, leadership development, human resource development, employee skill development, office management, risk management, product development and marketing management. There is a plan to start cooperative diploma course after building own training institute. At the same time various types of customized training programs are ongoing as per the demand of the cooperatives.

Accounting software is currently being used in almost all societies to manage their accounting activities. However, all the software running in the market have some limitations. As a result, the need for a complete software that is friendly to our cooperative societies has been felt for a long time. To solve this problem, The Christian Co-operative Credit Union Ltd., Dhaka has developed a complete software and in partnership with CACCO, initiatives have been taken to provide the software to all cooperative societies. Apart from accounting, the software can handle all operational activities of a cooperative society. The software is easy to understand and incorporates all the modern banking features that will make managing the activities of the societies much easier.

CACCO is working tirelessly to protect the interests of the member cooperatives. Various term deposit receiving and loan investment activities are ongoing from our member societies. We always ensure 100% transparency and accountability in our every dealings.so your investment must be 100% safe and secure with us.

Let CACCO Ltd. move forward with everyone's cooperation and become a worthy guardian of all Christian cooperative societies.

Regards-

Pankaj Gilbert Costa
Chairman, CACCO Ltd