Chennithala –Thripperumthura service co operative bank was formed with 53 members for Rs 530/- as share capital on 29/06/1955 under the great Leadership of Late Sri AMBALAPATTU. A. S DAMODARAN ASAN.This co operative bank was formed by small group of farmers in Chennithala-Thripperumthura Village as “KOOTTUKRISHI SANGAM”.This sangam provides agricultural equipments, Fertilizers, Pesticides to the farmers of the above said villages. And also motivates the farmers for more production of Rice, vegetables and other seed productions. In 1959 the sangam upgrade to Service Sahakarana Sangam and again in 1985 upgrade to Service Co Operative Bank.
We salute and also remember the great Leaders like Sri Ambalapattu A. S.Damodaranasan, Sri Kannankara Gopalan Nair,Adv Kottappurarthu K C Cheriyan,Dr V.R Krishnannair.
We salute their contribution for the formation of this great Institution.
Now this Koottukrishi Sangam engaged in Banking Business for providing Agricultural Loans, other loans and receiving Deposits from members. The banking operation of this institution is limited only to the Chennithala-Thripperumthura Villages. The present working Capital of this bank is Rs 1.74 crores. Now the bank has more than 12000 members, an average total Deposit of Rs 120 crores during the current year. The deposits are guaranteed by the government under “Deposit Guarantee Scheme”.Further the bank provides various loan facility for an amount equal to 100 crores. The bank also provides agricultural assistance to farmers by way of fertilizers, pesticides etc…in a subsidized rate. For all these services the bank has got various Awards/Cash Awards in Thaluk, District and State levels in the last continuous years.