During the acute food grain scarcity of the 1960s, the government employees and the former Alappuzha District Collector Mr. Kaleeshwaran raised this bank to provide rice and other grocery items to Government employees at subsidized rates. Thereafter the Government Officials and teachers in Ambalapuzha taluk started renting money from the District Cooperative Bank as well as receiving investment from the bank members too and run chitti to take up many activities including mavelistore.

The bank looks at its continuity and growth...our bank also succeeded in meeting a number of financial and social needs of the government employees , making them their deadliest financial companion. The institute has become a Class 1 Super Grade Bank with a share capital of ₹2.5 crore, ₹140 crore of investment, ₹95 crore loan standby, and ₹133.55 crore working capital with dividend of 25% for members. Having 9,800 A-class members, our bank operates branches in Neerkunnam & Kalavoor as well as a Neethi medical store in Vandanam.