Under the Chairmanship of Dr Trigunacharan Sen, the then Rector of National Council of Education, Bengal in a meeting on 10th October 1951 “The National Council of Education Employees’ Co-operative Credit Society Limited” has been formed for the welfare benefit to all the employees. Professor Hemchandra Guha was appointed as the Secretary of the Society. Professor Hemchandra Guha with Professor Dr Sudhansu Kumar Banerjee, Shri Prabir Chandra Vasu Mallik and Rector Dr Trigunacharan Sen tried to form a registered Credit Co-operative Society so that all the employees can form a fund by contribution & get loan at the time of their urgent needs.
In the year 1955, National Council of Education, Bengal upgraded to Jadavpur University by the National Government. For this the name of the Society has been changed to “Jadavpur University Employees’ Co-operative Credit Society Limited” in a meeting of all employees of Jadavpur University with the Chairmanship of Registrar Shri Prabir Chandra Vasu Mallik on 14th October 1957. Shri Kaliprasad Ghosh was appointed as first honorary office staff and worked hard to shape the Co-operative.
This Co-operative has been registered on 15th April 1958 by Co-operation Department, Government of West Bengal. Loan to employee has started in the year 1959-60; Dr Trigunacharan Sen, Vice Chancellor & Shri Prabir Chandra Vasu Mallik, Registrar received loan Rupees 1000.00 & 400.00 as first recipient. Sale of share to create Share Capital & Creation of Thrift Fund has been started in the year 1962 & 1968 respectively.
With this path many employees, office staff members and board managing committee members worked hard to consolidate, improve & self-sufficient.