The bank started on 17 August 1979, and has completed 43 years of successful service. The bank is registered as a Co-Operative Society under the Kerala Co-Operative Societies Act 1969. As per the classification the bank is placed in class -4 Category.
The encouragement of self – help and Co-Operation among members.
Raising funds by the way of shares, borrowing funds by the way of loans or deposit, from members or others to be utilized for loans to members for useful purpose
Conducting chitty business among the members.
Giving Scholarship to the children’s of the members.
The board of directors have the full control of the functioning of the bank. The principal of the college who is the ex-officio president and 8 representative elected from the general body.
The period of the director board is 5 year.
Board Members 2022-2027
1. Dr.Philipose Ommen (President)
2. Dr. Bincy. P. J (Vice President)
3. Dr. Kiran Joseph
4. Dr. Beena Koshy
5. Sajith Babu
6. Dr. Janey Mary Mathew
7. Sabu C.S
8. Sheelamol A
Deposit
The bank conduct Fixed Deposits, Recurring Deposits and Saving Bank Account. As per the Audit Report 2020-21 the loan outstanding is 9.75 Crores.
Members Mutual Benefit Fund(MMBF)
The bank conduct Fixed Deposits, Recurring Deposits and Saving Bank Account. As per the Audit Report 2020-21 the loan outstanding is 7 lakhs.
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Common Good Fund
TThe fund is meant to help the members. There relatives and also people who are not member of the bank at the time of necessity. The bank gives Rs.50000/- per year to the purpose. The bank also contributed water cooler to our college
Scholarship
The bank is encouraging the children’s of members who is having high achievement by the way of Scholarship. The bank also conducted “One home one laptop” Scheme for the children’s of the members.
All loans and deposits in the bank is having insurance coverage from LIC of loans. It gives better Security for the bank and for the members.
Total Members – 119
Share capital – 11,50,000/-
The bank gives 25% of dividend every year based on the Share capital of the members. The Audit classification of the bank is “Class A”
Secretary -1
Attender –1
Total 2
