The Palakkad Service Co-operative Bank
The Palakkad Service Co -Operative Bank was started as a multipurpose co-operative society in 1932 with a low A Class Share amount. After Independence the society's name changed to Producers Consumers Co-Op Society (PCCS) and started its functioning on 15/05/1950 under the leadership of veteran leaders along with some prominent members. It was registered on the PACS, named as "THE PALAKKAD SERVICE CO-OPERATIVE BANK LTD NO. F 1200" by the Registrar of Co-Op Societies and started functioning on 20/02/1956 in a small owned building. After the completion of many successful years, our bank is functioning with all glories as Class I Supergrade and as an eminent Co-Operative Institution in the District as well as State .Now the head office with main branch is situated at the head of the Palakkad town with all high-tech banking and non banking activities. The working area of the bank is limited to Palakkad Muncipality,Marutharode Panchayath,Pirayiri Panchayath, Karingarapully amsom of Kodumbu village and Kavilpad amsom of Pudupariyaram II village. Agriculture is the main occupation of the people over here in these areas. Now there is 16791 A Class Members in the bank as on 31/03/2020. In the bank, various agricultural and non- agricultural lendings with attractive interest rates are followed by the Registrar of Co-Op Societies.
The Bank has been selected by The Joint Registrar of Co-Operative Societies, Palakkad as the best Service Co-Operative Bank in the District for highest deposit in the year 2009-10. In the year 2010-11 total deposits attained was 100 crores .After ten years this achievement - three times more -.The Co-Operative Department of the Government of Kerala has given us sanction to open a Professional Educational College in Palakkad District. We are glad for the economical and social development scenario of various villages; the bank has tried its level best to work among the people knowing their needs in past years. Our vision is to build a better area life for every individual .The main objective of the bank is to promote the welfare of the members and the society by implementing new projects and modern technologies to bring back the prominence of agriculture. The bank is a strong, sound, and leading organization in the Co-Operative credit structure and the backbone for the rural financial structure of the Palakkad District.