Classified consistently as an “A category” institution by government auditors for the past 21 years, the society has built a reputation for financial discipline and operational stability.
Speaking to the media, Chairman Diego Sequeira emphasised that the society’s strength lies in its asset quality.
“The benchmark to judge any financial institution is its non-performing assets (NPAs), and ours stand at zero. Loans are sanctioned strictly on merit, and recovery remains strong,” he said.
The society currently operates six branches across Goa “ Mapusa, Calangute, Goa Velha, Penha de Franca, Valpoi and Siolim “ in addition to its head office at Rizim Plaza in Mapusa.
The upcoming Aldona branch is expected to further strengthen its presence in North Goa.
Vice Chairman Hemant Barros highlighted the institution’s conservative financial approach, noting that it has never relied on borrowings from the Goa State Cooperative Bank since its establishment.
“We have consciously avoided offering unusually high deposit rates to attract customers. Our rates are aligned with nationalised and private banks, ensuring long-term stability rather than short-term gains,” he said.
As of March 31, 2026, the society’s membership has grown to 17,705. Deposits stood at Rs 45.77 crore, while advances reached Rs 29.15 crore. The institution reported a net profit of Rs 1.20 crore, underlining its steady financial performance.
The society offers a range of lending products, including personal loans, gold loans and vehicle financing, all at competitive interest rates.
Its leadership attributes continued growth to deposors’ confidence and prudent lending practices.
With a clean balance sheet and no exposure to major financial controversies, the Milagres cooperative is positioning itself as a stable player in Goa’s cooperative credit sector, even as several others in the State have faced financial distress in recent years.
