Our story
About our Bank
The Kuzhur Service Co-op. Bank Ltd., is the pioneer banking institution , established in 1946 in Kuzhur Panchayat, Thrissur District Kerala India. As on in its outlook , approach and its service, the bank has the objective of progress and prosperity of general public society. The historical journey from a small society named “NATIONAL SOCIETY “ to a Class 1 Special Grade Bank, there are a lot mile stones, a number of good hearted personalities, progressive thinkers have participated and delivered their contribution to this social welfare mission. It is prideful to state that, the mission was started before our nations independence with a great fore vision.
Humble Beginning as a Small Society
It was a humble beginning before our nation’s independence. More than six decades back , there were a lot of progressive thinking youths of Kuzhur village use to gather in Kuzhur to share their political and social activities inspired by nations freedom struggle. They realized that, an organization is essential to support the villagers and concentrate them for other social motivations. Those time nation’s freedom struggles was spreading all over India. For a social cause or for a social commitment they formed a small society named “NATIONAL SOCIETY”. Mr.T I Padmanabha Menon, M A Karunakaran Nair, M Prabhakara Menon, M Padmanabha Menon were the few among them, put their effort to form the society.
1946 Paraspara Sahaya sangham
In 1946 November 29 National Society was reformed and registered as “PARASPARA SAHAYA SANGHAM” ( Mutual Helping Co-operative Society. The members of National Society continued in this newly registered Co-operative Society. The members and its promoters influenced their friends and relatives to join co-operative society, after a long effort Society started its operation with two hundred members on 18th January 1947. Initially it was difficult to run its operation due to lack of capital.
1969 Service Co Operative Society
1969 Registered Service Co Operative Society Years became decades, in 1969 the society is registered and upgraded as CO-OPERATIVE SERVICE SOCIETY. It was growing slowly since then. Even there was few other societies also operating from neighbour villages like Kundoor. 1970 Kundoor Society Merged with us It was a remarkable turning point of its growth, Kundoor Society merged to Kuzhur Co-Operative society.
1983 Upgradedas a Co-Operative Bank
The real turning point of its historical journey was happened after 37 years from its foundation. Society is registered as a Co-operative Bank. Even after registered as a bank, it was struggling for existence until 1988. The joint function of its employees and administration, bank was attaining its progress day by day. Bank had gone under administrative Rule in 1976, 1988, 1992.
Time and technology has changed.. Joint function of Employees, administration and co operation of members lead the bank to prideful stage of profit. Head office ,its branch office at Eravathur and Kundoor implemented computerization completely. The branch offices connected with head office by Core Banking Technology.
Now the bank is running its accounts by mouse clicks of seconds instead of scratching ledgers by hours. We realized that time is the primary factor for us and our customers.
In the financial 1995- 96 Bank Provided its dividend 20% to its shareholders. The Bank is keeping an amount of Rupees 65 Lakh as a precaution account against if any future loss may occur. It is our prideful journey from a common PARASPARA SAHAYA SANGHAM to a Class-1 Special Grade Co-Operative Bank and we could record its growth continuously in profit since 1995.
