The Bank started in 1939, with 50 members and capital of Rs.500/- each, the bank now has grown to 23073 members and Rs. 149.70 Lakhs Share Capital. Esteemed individuals have put huge amount of effort put to bring the bank into such a position.

Senior Raja Sri. T.N. Manavedan Tirumoolpad of Nilambur Kovilakam was the first member for the bank. The foremost presidents of the bank were Sri. T.N. Veerarayan Raja, Sri.Manavikraman Raja, Sri. T.N. Kochunni Tirumoolpad and with their outstanding performance they were able to get the strong belief from the people.

After that continuously for 35 years Sri.Pulakkal Kuttikrishnan Nair was the President of the Bank. Due to aging reasons, in 1980 he kept away from administrating the bank. By the time he was able to open branches at Vandoor and Kalikave. He was able to bring 17 panchayaths under the banks operation area and also was able to make the bank financially strong by this time.

After the retirement of Sri.Pulakkal Kuttikrishnan Nair in 1980, Sri.E.P. Appukuttan Pillai was elected as the new President of the Bank and was able to form a new Administration. Sri.T.N.Godavarman Thamban and Director Sri.K.Muhammed are now working in major role of the bank.

Under the co-ordination of Sri.E.P. Appukuttan Pillai, in 1980 the banks growth was at its high and was able to start branches at Chungathara, Karuvarakundu, Pookottumpadam, Edakkra Pandikad, Agabadam, Edavanna and Nilambur Co-operative Branch. By this time the bank was able to reach in a good position among other Urban Banks in Kerala.

Later Sri.T.N. Godavarman Tirumoolpad came in power and the administration formed by him is the Banks present Administration. In the period of the new Administration the bank opened branches at Karulai, Edakara and Vandoor, and altogether the bank was able to open 14 branches out of which 6 branches are fully computerized.

Now there are 102 employees working in the bank. The bank now has the facility to issue Demand Draft to any part of the country.