History

The Neyyattinkara Co-operative Urban Bank, Formerly known as “THE NEYYATTINKARA TALUK CO-OPERATIVE BANK LTD.NO : 931” was registered as per the erstwhile “THIRUVITHAMCORE PARASPARA SAHAYA REGULATION OF 1914” with Neyyattinkara as its Head Quarters on the 8th April 1925.

The Bank was having a humble beginning. A few Social Reformers of Neyyattinkara numbering 23 under the leadership of Shri.R.Vasudevan Pillai, who was a pleader in the Judicial Courts of Neyyattinkara took the initiative to form the Bank.

At the beginning the Bank was having a Paid up share capital of Rs.170/-. The share value is fixed as Rs.25/- allowed to be paid in instalments .Neyyattinkara is having a traditional legecy of its own. It gave birth to a number of Social Cultural and Political leaders who played prominent rolls in the making of the Princely State of Travancore. Neyyattinkara had also an important place in the Social renaissance of Kerala.Sree Narayana Guru the greatest of the Social reformers of Kerala had frequented Neyyattinkara and established a ”Thapovanam” and a “Siva Temple” in one of the serene Banks of the River Neyyar viz ”Aruvippuram”. He had spent several days on meditation on this abode. Neyyattinkara was the birth place of “Swadesabhimani Ramakrishna Pillai” who had fought and martyred for the cause of Freedom of Press.

“Veera Raghavan” was another son of this soil who valianthly fought and sacrificed his life for the freedom of Travancore.

These Reformers were also instrumental to the movements such as “Eradication of Untouchability and Temple Entry agitation”.

Sri.Ayyankali one of the most revered social reformers who fought for the emancipation of the down trodden section of the people of Kerala belonging to SC/ST communities was born and brought up in Neyyattinkara. Years before the Govt.of Kerala made enactments for the reservation of SC/ST categories of members in the Managing Committee of Co-operative, the Neyyattinkara Co-operative Bank was having Sri.Ayyankali as one of its Committee Members.At the beginning the Bank was housed in a rented building. Subsequently it was shifted to its own building built with the ambience of traditional structural beauty.

The Neyyattinkara Co-operative Bank had a slow but steady growth in all its field of activities. Before the advent of District Co-operative Bank in Kerala in the year 1958 Neyyattinkara Co-operative Bank had played the role of a Financing Bank at the Taluk level providing financial assistance to the Primary Co-operative Societies in Neyyattinkara. The Bank was having Dual membership. Along with the individual members the Bank had about 78 Primary Co-operative Societies as members.

Besides Banking functions Neyyattinkara Co-operative Bank had undertaken a number of Social Welfare activities. Such as Ration Wholesale procurement and distribution, promotion of savings mentality among the people by conducting Chities and Kuries, Sponsoring Seminars and conferences on various Social and Cultural subjects. All these activities were at that time alien to other Co-operative Institutions.Also those activities distinguished this Bank from other Co-operative Societies in the State.

And also the above activities under taken by the Bank could be considered as manifestation of the practical application of one of the Principles of Cooperation viz.”Concern for Community.”

After obtaining the RBI Licence in 1980 and the application of Banking Regulation Act the name of the Bank was changed as Neyyattinkara Co-operative Urban Bank and our Bank is forced to abandon this function.

Now the Neyyattinkara Co-operative Urban Bank (as per the statistical data as on 31/03/2024) is having 56601 Members with a paid up Share Capital of Rs.9.08 crores with a Deposit of Rs.116.03 crores and a loan amount of Rs.79.03 crores outstanding .The Bank is about to complete its Core Banking Solutions within a few weeks and will be able to provide all the latest Banking Services to its members and customers including RTGS, NEFT and ATM.

The Bank is now having Six branches located in differents parts Neyyattinkara Taluk viz one each at Vellarada, Kattakada, Balaramapuram, Uchakada and two branches at Neyyattinkara.

Management of the Bank is vested in a Board of Directors consisting of 15 Directors headed by Adv. Sri. D. Raju who is chairing the Board.