Brief History of the bank
The Bank started in 1939, with 50 members and capital of Rs.500/-The bank now has grown to 29719 members and Rs.312.48 Lakhs as share capital as on 31.03.2007.Esteemed individuals have put huge amount of efforts to bring the bank in to such a position.
Senior Raja Sri. T.N. Manavedan Thirumulpad of Nilambur Kovilakam was the first member of the Bank. The foremost presidents of the bank were Sri.T.N.Veerarayan Raja, Sri. Manavikraman Raja, Sri.T.N.kochunni Thirumulpad also of Nilambur Kovilagam and with their outstanding performance they were able to attain the strong belief from the people with in a short period.
After that continuously for 35 years Sri. Poolakkal Kuttykrishnan Nair was the President of the bank and due to aging reasons; in 1980 he kept away from administrating the bank. By the time he was able to open branches at Wandoor and Kalikavu. He was able to bring 17 panchayats under the bank’s area of operation area and also was able to make the bank financially strong by this time.
After the retirement of Sri.Poolakkal Kuttykrishnan Nair in 1980, Sri.E.P.Appukuttan Pillai was elected as the new president and was able to form a new administration. Sri.T.N.Godavarman Thirumulpad and Director Sri. K. Mohammed were in major role of the bank along with Sri. Appukuttan Pillai.
Under the co-ordination of Sri.E.P.AppukuttanPillai , in 1980 the bank’s growth was at its high and was able to start branches at Chungatahara, Karuvarakundu, Pookkottumpadam, Edakkara, Pandikkad, Akampadam, Edavanna and Nilambur evening Branches. This time the bank was able to reach in a topmost position among other urban Banks in Kerala.
Later Sri.T.N Godavarman Thirumulpad came in power . In the period of new administration the bank opened branches at Karulai,Edakkara evening and Wandoor Evening. Altogether the bank have Head Office and 26 Branches fully computerized.
Now there are 155 Employees working in the bank. The bank has now facility to issue Demand Drafts to any state in India.
The Bank is working in profit for last 80 years and we are offering maximum Percentage of Dividend for last 80 years.All the Branches and Head Office are fully computerized