The Kannadi service co-operative bank was established at Kannadi, Palakkad, Kerala state on 9th October of 1952 as a multipurpose co-operative society with 25 members. The present operational status of the bank is classifies as PCAS as per government norms. The bank has its head office and main branch at Kannadi,which operates 12 hours banking business. And two branches one at Kannanur and the other at Kinassery. The bank has nearly 20,000 members of which nearly 70 percent are active. The members include from every walk of life; from agricultural laborers to scientists. The bank functions with modern banking technologies such as core banking, RTGS etc.
The Kannadi Service Cooperative Bank was established on 09.09.1952 as a multipurpose cooperative society with 25 members. Our first president, Sri. Raghavan Nair was a social and cooperative activist. Since 1969 the society is working as Kannadi Service Cooperative Bank. Our earlier presidents are Sri. Parakunnath Karunakaran Nair, Sri.T M Narayanan - Tharuvakurussi, Sri. Narayanan Master - Kannanur, Sri. K L Appukuttan - Manaloor, Sri. E Narayanan Master - Vadakkummuri, and Sri. V Rajan - Chemmankad. The bank has around 20,000 members of which nearly 70 percent are active. The members includes from every walks of life; from agricultural labourers to scientists. For the last 3 years, our business has grown by two fold. Our other services and business activities include fertilizer & pesticides, cement, textiles, seasonal business including Onam and Vishu fares, and micro enterprises supported by the bank. We are also supporting the progressive and cultural activities with in the service area. The working hours of head office is from 8 am to 8 pm, and our Kannanur brach functions from 9 am to 4 pm. The bank operates under core banking system.