About

In 1952, a group of people interested in the welfare of the people of Areekode  joined and formed a mutual aided co-operative society named " Ayikya Nanaya Paraspara Sahaya Sahakarana Sangham". The office and activities were in Kozhakottoor. In the beginning, there were 16 members with Shri. C. P Ravunni Panickar as president.

On January 4th, 1964 the society was registered as the Areekode Service Co-operative Society. Shri. Attupurath Kesavan Namboodiri was elected as the first president of the registered society. Later, Shri Kollathodi Chekutti Hajee, Shri. P. Mohammed alis Manu Hajee, Shri Narayanan Master also served as president, In 1971, the society expanded its operations and was renamed as Areekode Service Co-operative Bank Limited.

The management committee, under the leadership of Advocate. K. V Salahudheen shifted the headquarters of the bank to Areekode Town. This became a milestone in the growth of the bank

Then the Board of Directors headed by Mr. Mokkath Mammed took the initiative to build a suitable headquarters building for the bank in Areekode Town.

On 3rd May 1994, Kerala's first chief minister and great leader Shri EMS Namboodiripad inaugurated the new headquarters of the bank in the heart of the town.

In successive years, the bank was also led by a board of Directors with presidents Adv. K. C Mohammed Ashraf, Shri P. Sreedharan, and Shri. M. T Alikutty. 

In 1997 the evening branch was opened by former finance minister Shri. T Shivadasa Menon and in 2000, Velleri branch was inaugurated by former local body minister shri Paloli Muhammed Kutty. 

The renovated evening branch was inaugurated in 2011 by the present Hon'ble chief Minister Shri. Pinarayi Vijayan.

In the 70 years of the Bank's operational progress, it has managed to mobilize about 125 crores of deposits and provide loans of about 100 crores to needy farmers, small-income earners, and the business community.

Apart from this, the bank is also running a medical shop, Neethi Lab, and E-service center which are very beneficial for the common people. 

Ernad charitable Trust is functioning as a joint venture with Areekode, Urangattiri, and Kizhuparamba service co-operative banks, to provide free dialysis to poor kidney patients.

The bank is giving full support and assistance to all the good initiatives going on in and around Areekode.

It is especially remembered with respect, that all these good activities were undertaken successfully by the sincere support of hundreds of good members of the bank, director board members, and presidents who led them with vision, the employees who are always ready to serve the customers and before all, the common people.

Areekode Bank has extended the range of services it has been providing to the people for a long time and the existing board of directors is committed to ensuring the better growth of the bank.

           Following are the existing members of the Board of Directors who have been elected to manage the Bank since 4th December 2021