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