About Kadanad Bank in kollappally, Kollapally

The Kadanad Service Co-operative Bank Ltd.No.K2 has a unique place among the grass –root level Agricultural Credit Societies in Kerala. First of all ,let us acknowledge our gratitude to our founder president ,the late Sri Thomas Pandiyammackal who took the bold initiative of establishing this society in 1958.We are proud to say that ours is the first registered service co-operative bank in Kottayam district since no bank is registered as K1.The required share capital was raised and with 250 promoting members this bank got registered on 25-09-1958.
The nineteen fifties was a period when agriculturist and ordinary people were struggling hard to raise funds at reasonable rates of interest even for their most glaring needs.
Many had been chewing bitter pills by falling into the net of money lenders who were mercilessly levying crushing amounts by way of interest.
It was a time when the co-operative movement in Kerala was gaining strength and starting to provide an alternative to the villagers and townsmen who were in dire need of credit.
The Kadanad Service Co-operative Bank has a history of steady growth and fruitful service to its esteemed members.
It has its head office at Kollappally and the bank operates through four branches which are at Kollappally, Kadanad, Manathoor and Mattathippara. Its area of operation is in Kadanad Panchayat, and as on today it has a membership strength of 10889.
Today, we are a Class 1 Special Grade Bank satisfying the norms to be eligible for getting classified as Super Grade Bank ,which in fact is the highest grade in this sector in our state.
On this great occasion ,we are all thankful to all those beacons of light who had been ,over the years ,powerfully leading this bank all through these 58 years. And we rededicate ourselves for the sevice of members and the public.
Besides focussing on banking ,the Kadanad Sevice Co-operative Bank does extension services by running Neethi Medical Store ,providing Ambulance Services ,and seasonal Festival Markets, and introducing scholarships etc. Our idea is to develop this bank further in such a way that it can provide all kinds of services that a modern bank can offer.