"... The Hon'ble Minister spent half an hour studying the working of the society and the Minister at the end remarked "you have made wonderful progress in less than a year's time and it is noteworthy that 75 percent of the employees have joined as members"

Initially the society acted as multipurpose dealing in both consumer and credit activities. A joint Purchases Committee was appointed to procure consumer articles at a cheaper rate outside the State. This Joint Purchases Committee was more useful, as most of the consumer articles remain short-supply. Therefore the Purchase Committee ventured out to other state where the consumer article sold at cheaper rate for procurement on large quantity in order to help the members to avail the short-supply of consumer articles at cheaper rate. The Society also was dealing in textile materials, sarees and etc., confiscated by the Government through the Customs Department.

Lesson the society learnt (from 1971 - 1979) & Subsequent RecoveryLesson the society learnt (from 1971 - 1979) & Subsequent Recovery

The management of the Society right from the inception looked after the affairs of the Society with great commitment. On completion of 20 years of successful working the Board of Directors who was then in the helm of affairs were responsible for the mismanagement in the consumer article dealings. On account of this mismanagement, the management of the society shifted to the hands of Government officials by appointment of Special Officers and entrusted the management in the hands of Government officials from the year 1971 to 1979. The Society has not witnessed prosperity since it incurred only loss during the period of Special Officers. Subsequently it started earning profit on the assumption of "elected board" from the year 1982 - 1983 onwards. The profit for the year 2007-2008 & 2009 Rs. 50.14 Lakhs and Rs. 50.50 Lakhs respectively.

However the scenario changed drastically with the assumption of office of the elected Board of Directors under the President ship of Shri. C. GOVINDARAJULU a new "worker-leader" in the year 1982 and till date the Society is under his continuous guidance, and leadership barring the period from 04.04.1989 to 31.03.2009.

Campus : The Simpson & Group Companies Co-operative Credit Society Ltd., (formerly known as The Simpson & Group Companies Employees' Co-Operative Society Ltd) Head office owns its premises located at No.1, Desi Colony, Perambur High Road, Chennai - 600 012. Society's plinth area spread over to 13,800 Sq.ft., 1 + 3 floor building. The Society located its Hospital, Administrative Office and I.T.I. Training Institute with workshop in the same premises. (In each floor)

The Objectives

• To develop as best co-operative society in India
• To Educate, Guide, Assist, and develop the Employment of retired member and efforts to build up and expand the co-operative societies in Chennai.
• To serve as role model and function in accordance with co-operative principles.
• To Provide Health Care and Employment Oriented Training