BMACBS

The Bheemunipatnam Mutually Aided Co-operative Building Society Ltd., 2443

About BMACBS

  1. The Bheemunipatnam Mutually Aided Co-operative Building Society (BCBS) is a Co-operative Society established on 29th May, 1970 with a laudable objective of providing impetus to the growth of the first Municipality of the State of Andhra Pradesh (Second Municipality of the country) through its activities and presently registered under the Mutually Aided Co-operative Societies Act, 1995 of the state of Andhra Pradesh. Its main aim is to serve its members on a non-commercial basis and provide the possible services in an economical way without aspiring to earn profit from its activities and serve the community in a limited humble way. It is managed by a 'Management Board' consisting of 10 elected Directors as per the provisions of the Act and the Bye-Laws framed under the Act.

  2. It has 1,652 members on its rolls as on 01-04-2013. Any citizen of India, in sound mind and not a minor, resident or native of the areas in the districts of Visakhapatnam, Vizianagaram and Srikakulam of Andhra Pradesh, is eligible to be admitted as a member of the Society subject to the fulfilment of the provision of the Bye-Laws of the Society. Its current policy is to limit the membership to the extent of plots that the Society can allot and admit new members for the plots planned by it from time to time. Presently, it has six schemes on its hands. Of these, it has fully completed and allotted plots to 246 members in two schemes. It proposes to complete another two Schemes, one for 300 members by December, 2014 and another for 1400 members by December, 2015. Another two Schemes are in the nascent stage and may come into operation by mid 2014.

  3. The Society has several other Schemes on its programme list. The likely programmes are a multi-storeyed Apartment complex (about 128) in the vicinity of Bheemunipatnam, one village (for about 100 inmates) for elder's homes. It has an ambitious desire to plan for a Herbal Resort on an about 500 Acres in the Agency area of the State and provide relaxed stay in a Natural environ and extend Herbal therapy to the needy in the country and abroad.

  4. Thus, the Society is a no profit – no loss social service oriented entity, functioning as a "Corporate" with the sole objective to serve the community, at large.