Mankada Co-Operative Service Bank

Mankada Service Co Operative Bank was established as a result of the aspirations of the People’s movement in Mankada. Which is popular for its religious harmony . Mankada is a place that stayed unaffected by the waves of the Malabar rebellion which marked turning point in the history of freedom struggle. Formation of co operative society for agricultural alone.

It is started as Ikya Nanaya Sangham . . It was registeres in 1912 May 19, started on june22, changed into Mankada Co Operative Society nad stepped forward in 1964. M.S Narayana Iyer as the chairman and Thayyil Abdurahiman Haji, Meenedath Givindan Nair and P. Mohammed as the members of the promoting committee led the way for the activities in that period.

6 Wards of Mankada Panchayath , Perinthalmanna Taluk, Manjeri, Malappuram Municippality and Anakkayam Panchayath come under the operational limit of the Bank and it has 4 branches too. A Neethi Medical Store is also running under this.

Presently the Bank has a deposit of 94 crores, loan of 61 crores, borrowings of 8 crores, investment of 54 crores and working capital of 120 crores.

The Bank which was class 5 in 1985 is later upgraded as class 4 in 1989, class 3 in 1995, class 2 in 1999, class 1 in 2002 and class 1 Special grade in 2006 and class 1 Super grade in2019 . The bank is working at profit form the year 1996 onwards.

Audit classification is ‘A’ for many years.

6 cents of land was bought in 1999 in Mankada Town and new building was constructed under I.C.DP scheme and the Bank was shifted to the new two storey building. The old Bank building was where the Mankada Police station now stands.

The Bank strongly intervenes in the social field also . As a part of this, they solved the shortage of drinking water in Mankada Govt. High School. The Bank is always in front to solve the problems of public and it help many public institutions such as Mankada Taluk Hospital and many others. The Bank serves as the Bank of hometown by providing treatment assistance for pure patients, educational assistance for outstanding students and educational awards for academically excellent students. There are students deposits of thousand five hundred students in Bank in order to develop a saving habit in children. In order to bring abck the agricultural background of Mankada area which was changed into an urben area as time passed, the Bank extends its helping hands for farmers and other agricultural workers. The Bank is very popular among the public has it provides assistance for job seekers in foreign countries and Kudumbasree groups. It has given a loan of 70 lakhs as per Muttathe Mulla project.

Bank provides financial assistance in covid 19 period interest free loans, Pravasi loans, CMHLS Loansfor kudumbasree.

The Bank which is a great influence in the economic social and educational field of Mankada , if now leading by Ali Kalathil has the President, Samad Mankada as the vice President and Parachikkottil Mohammed, Kalathilthodi Moossa, Chakkingathodi Shanavas, Njarakkattil Gopinathan, Oraparakundil Praseena, Pullekkanthodi Hafsath and Kallingal rasiya as the governing council members. C. Aravindan is the Secretary.

Classification

01.04.1980	Class V
01.04.1989	Class IV
01.04.1996	Class III
01.04.1999	Class II
01.04.2003	Class I
01.04.2006	Class I Special Grade
01.04.2019	Class I Super Grade