Education Employees Co-operative Thrift & Credit Society Limited
Origin of cooperative movement
It is recorded in books written
about the historical facts on the cooperative movement that for the first time
in the world, the first consumer cooperative society was established by coal
mine workers at Richdale in Lancashire in England in 1844. But there are
evidences, before 1795 in Germany there existed credit cooperative societies
named Rupoin and Suls. When the meaning of cooperative is taken, it is the
result of efforts of people who faced with equal economic and social problems
getting together solve them by spending labour , time and money to fulfill
these needs. When it is take in that context though it was not named as
cooperative society, there are so many evidences that a society with those
features existed in Sri Lanka since ancient times. Isn’t it wonderful that
constructing Wewas and Dagobas as cooperative efforts of people who were living
in ancient Sri Lankan society.
Commencement of lending cooperative
societies in Sri Lanka
There are evidences that two mutual
providence societies with the features of cooperative society existed in
Dumbara valley in Kandy and Weligama in Galle. These were the first lending
cooperative societies registered under first Cooperative Ordinance 1911 No.2.
There were several reasons for establishment of lending cooperative societies
in Sri Lanka. Sri Lankan village community faced with problem of poverty and
indebtedness owing to the commencement of crop cultivation as states instead of
prevailed self-sufficient agriculture system after Sri Lanka became a British colony
in 1815. To solve this problem of poverty and indebtedness, a Commission was
established under an Englishman named Crowfort. It tried to find solutions to
redeem indebtedness by establishing lending societies at village level. As a
result of this for the first time lending cooperative ordinance No.12, 1911
came to light.
Inception of Education Cooperative
Society
Establishment of this society, named
at present as Education Services Employees’ Thrift and lending Cooperative
Society Limited goes back to the year 1930. According to the documentary
evidences available in the society, establishment of this cooperative society
in the Education Department occurred on 15th July 1930. On that day the meeting
was organized and chaired by the Director of Education, Lionel McDomel, in the
Department of Education which prevailed during that time.
It was recorded that the first
general meeting was held at the ministry office in Colombo on September 16,
1930. Commencement contribution was Rs.1.00 and Monthly contribution was
According to the salary drawn by Education Department employees as given below.
Monthly salary Rs.100.00 to Rs.199.00 contribution Rs.5.00
Monthly salary Rs.200.00 to Rs.299.00 contribution Rs.10.00
Monthly salary Rs.300.00 above Rs300.00 contribution Rs.15.00
At the beginning this society was
named as Education Department Lending Cooperative Society. There were 58
members by 30th November 1930. This society could be named as an active
national level cooperative society gaining victories as well as some defeats,
many troubles and harassments receiving bouquets and brickbats. As a thrift and
savings cooperative society, the member is induced to save money and given 10%
interest for the savings.
When examining old balance sheets,
it is clear that deposits by savings have been deposited mainly in Hong Kong
and Shanghai Bank, State Mortgage Bank, Savings Bank of Sri Lanka and Charted
Bank. The first chairman was Mr. Sandiman, an Englishman. After him another
Englishman named Mr. H.W. House had worked as the chairman.
Expansion of work of the society
The foremost business of the society
was to increase the savings of the officers of the work places in the
Department of Education. A project was operated to offer insurance policies to
the members by several insurance companies.
Staff
Until 1952 work of the society was
carried out voluntarily by the committee. With the expansion of role and number
of members, it was difficult to do all the transactions of the society by the
committee. Therefore employing paid employees was started in 1952. The work
force approved for the society by Cooperative Development Commissioner was108
in 1976.Theapproved workforce in 1990 was 349 and it was increased up to 469 by
the year 1998. By 2010 approved work force is 508 and the number of all the
employees of the society is about 570.
Prominent changes in ruling
Until 1950 from the
beginning, the office of the chairman was held by an Englishman. It was a
significant event that a Sri Lankan was appointed as the chairman in 1950. It
went to history that the first Sri Lankan chairman was to be Mr. S.F. De Silva,
who was a Director of Education.
An interim ordinance was
approved in 1972. Granting loans came into force with this interim ordinance.
By this interim ordinance, it was adopted to nullify appointing a chairman by
virtue of official and resolved to appoint a management committee consisting
the chairman, six vice chairmen and 27 committee members above 21 years of age
by the vote of members at the general assembly. In addition to this 3 members
to the administrative committee can be appointed by the Cooperative Development
Commissioner at his discretion. They can be appointed even as the chairman or
for any other office.
As mentioned above by
the interim ordinance 1972, the existing name of the society as Education
Department Thrift and Savings Society was amended as Education Employees’
Thrift and Lending Cooperative Society Limited. Under the Cooperative
Reorganizing Bill 1970 passed by the1970 ruling Government, The Commissioner
has appointed three member ruling body for the society.
While maintaining this
ruling body, under the approved interim ordinance 1972 action was taken to
appoint a ruling body by vote. As a result of this by 1975 the chairman, vice
chairman and 20 honorary committee members, the secretary and vice secretary
were appointed by votes of members.
Honorary
President - Mr. L. Ariyawansa
Vice
Presidents
- Mr. D. K. Palihawadana
Honorary
Secretary - Mr. D. G. Y. Kulatunga
Vice
Secretary
- Mr. B. G. Marasingha
Mr. G. John Fernando
Mr. P. Dewasiri Perera
Mr. W. J. Bandupala
Mr. A. D. R. Jayasuriya
Mr. M. C. Gunapala
Again the power vested
on the Commissioner, under Cooperative Society (Special Provision) BillNo.12
1978, the society was ruled by chairmen appointed by the commissioner and a
committee consisting 9 members appointed by vote in 1979, 1980 and 1981.
01.
Mr. D. B.
Perera
- Chairman
02.
Mr. Wickrama Hennayaka - Secretary
03.
Mr. D. B.
Perera
- Vice Chairman
04.
Mr. R. H.
Silva
- Vice Chairman
05.
Mr. T. K. Karunaratna
- Vice Secretary
06.
Mr. A. Musamil
07.
Mr. K. G. Camilas Fernando
08.
Mr. M. W. J. Fernando
09.
Mr. N. Nadaraja
10.
Mr. A.R. M. Sarath Amarasooriya
Due to the large amount
of money spending on holding general assembly every year, the amended ordinance
was revised with the full approval of the Commissioner to hold the general
assembly every three years from 1980.
In recent history, Years
1992 and 1993 were the turning point of the administration of the society.
During this period the political situation in the country greatly influenced
the administration of the society. On 20th July 1992 action was taken by the
Cooperative Development Commissioner using the power vested on him to appoint a
new Board of Directors by summoning a special general assembly.
The three member ruling
committee appointed by Gazette Notification on 21st July 1992 decided to hold
an election and action was taken to hold elections on District basis and
appoint representatives for the general assembly. In March 1993, a Director
board of 15 members came to power. Mr. J. Jayasinghe worked as the president
and Mr. G. D. Dahanayaka worked as the secretary.
During the
administration of this board of Directors, legal actions were taken against
Director Board members and employees who worked unfavorably to the society and
given priority to fund raising activity by curbing waste and corruption.
According to the interim ordinance after every two and half years a new Board
of Directors should be appointed and therefore arrangements were made to hold
an election based on Educational Divisions in the first quarter of 1995 to
appoint a new Board of Directors.
Mr. N. G. Dharmasena was
elected to the Chairman post in March 1996. Although the members of the
Director Board were collecting Fixed Deposits for the future and providing
better services to members during their ruling period, the Board of directors
elected was suspended by court injunction in year 2000 for not holding an
election in due time. On account of this the Commissioner appointed the
following interim ruling body operative from 11.02.2011.
Honorary
Chairman -
Mr. R. P. Dharmasena (Deputy Cooperative Development Commissioner)
Honorary
Secretary -
Mr. Wimal Weerasekara (Lecturer, Polgolla Cooperative College)
Honorary Vice
Chairman - Mr. R. M. Wijenayaka Rajapaksa (Director of
Education)
There after from time to
time, twelve interim ruling bodies were appointed up to December 2012. During
this period only lending process and continuing projects stated before 2000
were carried out. Two provincial Offices in Badulla and Kandy were established.
However under Court
order an island wide one day election was held organized by the commissioner
on29th March 2008, and at this election ‘Our Group’ was elected with 2/3
representation and held ruling power of Education Cooperative Society Limited
from 3rd January 2009 to 29th April 2011.
The elected Board of
Directors
Honorary
Chairman
- Mr. Mahindawansa Jayasinghe S. P.
S.
Honorary
Secretary
- Mr. M. G. L. Lalkumara
Honorary Vice
Chairman
- Mr. Nimal Ariyawansa
Honorary Vice
Secretary
- Mr.A. B. G. B. Gangoda
Honorary Vice
Chairman
- Mr. K. M. Abeyratna
Honorary Vice
Secretary
- Mr. M. G. S. Chandrakumara
Honorary Provincial
Director -
Mr. Sunil Premathilaka
Honorary Provincial
Director -
Mr. Y. G. Jayaweera
Honorary Provincial
Director -
Mr. N. A. Wimalasiri
Honorary Provincial
Director -
Mr. H. G. Dharmadasa
Honorary Provincial
Director -
Mr. H. A. K. Karunaratna
Honorary Provincial
Director -
Mr. P. V. G. Nandana
Honorary Provincial
Director -
Mr. P. C. Warushamana
Honorary Provincial
Director -
Mr. Pathma Bandu Disanayake
This Board of Directors
face with Court Injunction on 29.04.2011 and a new interim ruling body was
appointed by the Cooperative Commissioner on Court Order. The appointed Board
of Directors
Honorary
Chairman
- Mrs. Sawitri Chathurika Wijesinghe
Honorary
Secretary
- Mr. Chandrasiri Nanayakkara
Honorary Vice
Chairman
- Mr. Wasantha Gunasekara
Honorary Vice
Secretary
- Mr. A.M.A.A Lakmal Rathnayaka
Honorary
Director
- Mr. Y.W.R Peris
Honorary
Director
- Mr. W.M Ghanathilaka
Honorary
Director
- Ven. Hungamuwe Sumangala Thero
21.03-2015 The
appointedBoard of Directors
Honorary
Chairman
- Mr. Upali de silva
Honorary
Secretary
- Mr. Hemapala Kaluarachchi
Honorary Vice
Chairman
- Mr. Sunil Premasiri
Honorary Vice
Secretary
- Mr. Upali Ananda
Honorary
Director
- Mr. S.A Wickramapala
Honorary
Director
- Mrs. Wasanthi Disanayake
Honorary
Director
-
Aim of the Society
- Member promotion
- Management of capital profitably to
gain maximum profits
- Enhancing employee proficiency and
productivity to make complacent employees
- Development of physical resources
- Making structural changes in office
system to satisfy member community
- Enhancing social services to serve
society
- Introducing new deposit schemes,
loan projects and other services for the needs of members
Our Vision
To be the foremost
monetary organization giving maximum profit to member community.
Our Mission
Development of our
cooperative society’s Financial, Physical and Human Resource, Usage of suitable
Technology and Management, handle resource productively and effectively by a
satisfied work group and through the satisfied service for members and their
improvement contribute to National Development.
Our Services
Devoting for the
national development through strengthening members by monetary, physical and
human resources development quantitatively and qualitatively through applied
technology and methods of management with complacent employees, using those
resources to give higher profits to members and methods of providing capital
and multiple services to members.
Our Duties
1.
Creating fund and
increasing it for fulfillment of economic needs of the members
2.
Introducing methods of
thrift and saving money and inducing members for it
3.
Engage in projects for
the development of education of the members
4.
Collecting deposits from
members and non-members
5.
Implementation projects
to obtain better prices for agricultural and other products of members
6.
Providing financial
facilities to members economic and consumer needs
7.
Buying land for
agricultural and housing projects and implementing such projects
8.
Implementation of
welfare and protection for social and cultural needs of members
9.
Development of
self-reliance, mutual help and morality among members
10.
Maintaining holiday
homes and rest houses for members, university students and school children
11.
Maintaining transport
services for the benefit of members and school children
12.
Buying land, buildings
instruments and equipment acquiring as gifts or in other ways, leasing, renting
or selling, mortgaging, leasing, renting or exchanging in any other way for the
society
13.
Implementing death grant
system for members and relatives of members
14.
Establishing a capital
for scholarship and giving scholarships to members’ children
15.
Supplying goods and
services needed for members
16.
Maintaining elders’
homes for associated members who were members of the society after retirement
