Explain the reasons for cooperative members Sri Satchanalai Land Reform Co., Ltd., Sukhothai Province, cannot withdraw money. It is caused by the cooperative not following the rules for receiving, disbursing, and keeping the cooperative's money until there is a defect.
As shown in the news In the case where members of the Sri Satchanalai Land Reform Agricultural Cooperative Limited are unable to withdraw their cooperative deposits,
From such cases Sukhothai Provincial Cooperative Office Inspected and found that Sri Satchanalai Land Reform Agricultural Cooperative Limited has suffered losses in the past year the cooperative has operated its business. using funds from deposits Second to borrowing money from the Bank for Agriculture and Agricultural Cooperatives (BAAC), which is then released to members. When members are unable to repay debts This causes problems in credit management. Cooperatives lack liquidity to conduct business. In addition, in 2019, there was a problem of corruption in the business of procuring products for sale. This makes members unable to withdraw their deposits as they wish. Including losses exceeding the reserve fund. causing the stock to have a negative value per share When a member resigns, it cannot be paid back to the member according to the cooperative's regulations.
However, the cooperative has financial and accounting flaws. with the debtor denying the debt Trade receivables amounting to more than 16 million baht, the cooperative has invested 108 million baht of its operating capital in net loans. Members were able to repay their loans as scheduled, only 18.31 percent of the debt due at the end of the fiscal year. There are outstanding debtors of 88 million baht. There are debtors who have defaulted on debt payments of 68 million baht, accounting for 77.39 percent of the debtors. There is 32 million baht of accrued interest on loans, 6 million baht of outstanding loan fines, and 6 million baht of outstanding deposits from 1,641 members, worth 127 million baht
In the case of corruption in the cooperative which is caused by wrongdoing by cooperative employees He filed a complaint with the investigator at Si Satchanalai Provincial Police Station. To bring the perpetrators to justice and to appoint representatives of the cooperative to prosecute those who cause damage to the cooperative in both civil and criminal cases. inquiry official Si Satchanalai Provincial Police Station Evidence has been gathered and the investigation has been concluded. There is an opinion that all accused persons will be prosecuted. and sent the investigation file to the Sawankhalok Provincial Prosecutor which is in the process of appointing the court to examine witnesses
Mr. Wisit Srisuwan, Director-General of the Cooperative Promotion Department, said that this issue has been continuously solved and has instructed the Sukhothai Provincial Cooperative Office. Follow the troubleshooting guidelines. Let the cooperative determine a plan for returning deposits to members who deposit money with the cooperative. The principal deposit has been returned to the member. Since the fiscal year ending 2022 until the present, over 10 million baht has been paid, including that the cooperative has set up a plan to return deposits to members. And there is a compensation plan for members, including paying interest on all member deposit accounts. Members can withdraw money according to necessity, such as the death of the account owner. Severely ill or under legal punishment to bring relief as necessary Including the restoration of cooperative business operations. Debt collection from cooperative borrowers Importantly, members must help each other in solving cooperative problems by working together with all parties. So that the cooperative can continue to move forward. – Thai News Agency
Source: Thai News Agency