AIBEA Union Solapur Unit was formed in Solapur in the year 1984, and from then on for the first 3 years, we all were involved in strengthening the Union. In the 1980s the loan facilities from our Bank were limited, and for any extra loan for marriage, education, medical or housing, Our staff had to approach Mumbai Society, which was then controlled by the Federation Union. Staff members had to go in person to Mumbai to get their loans that too after much difficulty.Looking at the above, Comrade R.S.Gubyadkar, called for a Union Meeting in Solapur and he suggested that we form our own Credit Society. Being an entirely new concept people were hesitant, but supported us.
A team of 4 people was formed. Com R.S.Gubyadkar led from the front like a true captain. He and Mr. M.A.Khan took the responsibility of getting the necessary permission from D.D.R Office and other legal matters. Mr. L.S Dias was giving the responsibility for collecting monthly subscriptions from members, which was Rs.5 initially and gradually went to Rs.100 per month. Mr Anil Jeurkar, was in charge of all the accounting, and maintenance of records
This way we started our society, even while awaiting permission from DDR office. We used to loan of Rs.1200/- at 2% per annum while taking 12 post-dated cheques/withdrawal slips from members. This is our humble beginning. We also got permission from the Regional office to use Solapur Main Branch Kumbhar Ves premises as our official premises for keeping our furniture and using as our office address.
