Our bank is working under co-operative registrar’s administrative control, which started working on 31-07-1954, registered o 13-06-1954 under Kannur Taluk, Munderi village operating area.

People from Munderi village & in nearby area are our members & clients. We could work according to their interest & co-operative rules & regulation & subject to bank’s governance , execution bylaw.

Our bank is working according to co-operative law section 80, class 1 special grade & audit class ‘A’. Bank has achieved all that is required for lifting as Super grade bank. Action will be taken for lifting as Super grade bank.

Our bank is a primary agricultural loan co-operative group. Hence, we are responsible for providing member’s agricultural needs & loans & other associated helps required.

Bank members are given Kisan credit loan on 7% interest as agricultural loan. In the previous years, both gold loan & agricultural loan were allowed. Although suggestive 25% amount should be allowed as agricultural loan, since R.B.I stopped gold loan as agricultural loan. Bank could not achieve fixed percent agricultural loan. However, from bank’s own fund agricultural loan has been given on 9% interest basis.

As of now, our bank has 5 branches. In all branches except Padannottmotta branch, safe deposit locker facility is available. Bank’s Munderimotta branch is working on rented building.

In the area of Munderi kadav, near family health centre, as a part of bank’s diversification 54 cent land was bought. For constructing commercial building in this land an estimate of Rs. 99,25,811 has been prepared & waiting for the department approval. According to getting the approval, action will be taken by the bank to construct the building.

Bank’s Aechoor & Kanacheri area has fertilizer depos & Aechoor has a co-operative super market for daily usage things. Apart from this, during festive seasons under different branches, co-operative department allows co-operative markets too.

Under the bank Aechoor & Kanacheri fertilizer depo supply fertilizers via EPOS machine. [Elecctronic Point of Sales]. Fertilizers can only be supplied through EPOS machine. Hence, in necessary situation people at Munderimotta is worried whether fertilizers will be available to them.

At this point it’s gratefully remembered that the necessity of this people’s community shaped organization to stand & grow is understood by it’s generous people & they have co-operated for various activities approved by ruling body at all times.

Our bank is now working in core banking. Honourable members & clients can do the transaction at any branch of the bank by RTGS/NEFT facility. Now joining with the SBI, Host to Host facility is also made available.