Southern Star came into existence in 1986 and it has grown leaps and bounds in its service to South Indian community in Delhi and its surrounding areas strictly based on the very principles of co-operative movement in our Country. Southern Star has completed 35 years of operation and today it is a family of 32,000 members and has fixed assets like buildings worth more than 100 crores. Now, Southern Star is the biggest Co-op, Urban T/C Society in North India in number of members, assets etc. Its founder Shri. P.R. Nair started this society with 41 members and its first registered office was his rented-residence at Keshav Puram. By joining hands with each other through Southern Star, the members learnt how their small individual resources put together to serve the needs of large number of people and can influence to improve their living. Now, its Regd. and Corporate office situated at a spacious own space at DDA market at New Rajender Nagar. Sh. Nair, has taken voluntary retirement from MTNL(Chief Accounts Officer) a couple of years back to devote his complete attention to the society and its service to its members.
Another notable achievement of the society is that it has 10 branches at various parts of Delhi and where branches are functioning in its own premises. All branches are air-conditioned and computerised. In addition, there are 4 collection centres and one mobile branch. There are 53 employees working for the society. It is the first Co-op. society which started Gold Loan in North India and today Rs.32 Crores outstanding in it and 8% to 11% to the interest rate for a period of one year. There is a strong room and safe deposit locker at its Corp. office and it is insured for Rs. 30 Crores. CCTVs are installed at Corp. office as well as all major branches and one Guard is engaged for foolproof security. It is the first society started its own web-site and communication with members through E-mails and SMS. Again, it is the first society started quarterly bulletin for communication with its members and since then it is published regularly without fail. Now, it is having an own colour printing press for its day to day requirements in printing. Souvenirs are published on every important function.
A well-equipped library is operating from its Corp. office and maintaining free consultancy cells for Tax, Legal and investments with reputed specialized Advocates, Chartered accountants etc. Payments are accepted/Paid through Net Banking, NEFT, RTGS. Arrangements are made with Federal Bank to deposit cash/cheques from anywhere in India. Another attraction is that the members can make their deposits through Credit/Debit Cards
In addition to the 13 member Managing Committee, there is one Central Advisory Committee and 6 Zonal Advisory Committees and in all about 200 members are involved in policy decisions of the society. Meetings are held time to time whenever necessary. AGMs, Election and Audit are held regularly without fail. Society is assessed by Income Tax authorities for the last 7 years. In addition to the Statutory Audit, Concurrent Audit and TaxAudit are also held for the last several years.