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The Madappally Service Co-operative Bank Ltd. No.160, Perumpanachy.P.O, Changanacherry, Kottayam District is established in the year 1920 as multipurpose co-operative society. Later it was modified to a Primary Agricultural Credit Society and a Service Co-operative Bank. It is classified as Class I Special Grade Bank. The area of operation of the Bank covers almost 18 wards of Madappally Panchayath and wards 7, 8, and 9 of Thrikodithanam Panchayath. Apart from doing the Banking activity the Bank is also involved in various activities aimed at the rural prosperity of the area such as running a U.P. School, operating fertilizer depots, consumer stores etc.

Highlights about the Bank. (As on 31-03-2009)

1 Date of Establishment 16-07–1920
2 No of Branches 4
3 No of Members 11607
4 Category wise details of Staff(Sanctioned)
Secretary 1
Chief Accountant 1
Assistant Secretary 1
Branch Manager 2
Internal Auditor 1
Accountant/Head Clerk 2
SeniorClerk/JuniorClerk 8
Attender/ Sales man 3
Poen 5

Night Watchman
Total 25
5 Audit Classification B
6 Business Parameters  
  Share Capital 68,98,970.00
a Total Deposit Rs.26,49,17,971.65
b No of Loan Accounts 5,871
c Loan Amount Rs. 17,95,39,176.45
d Disbursements during 2008-09 Rs. 24,17,11,111.50
e Recovery Percentage 92%
f Profit as per latest Audit Report 2006-07 Rs. 6,90,893.81
g Income from non-banking Business - for 2008-09 Rs. 4,20,972.82

The bank is managed by the Board of Directors consisting of 11 members elected by the shareholders of the Bank. The term of the managing committee is five years and the present Board of Directors took charge on 01/09/2004. The Bank has four full time functioning branches located at different parts of its area of operation. They are at:

a) Perumpanachy
b) Madappally Block Junction
c) Kurumbanadom- Vazheepady
d) Thengana

All these offices are housed in Bank's own buildings and have all modern facilities to transact the business smoothly including attached conference halls to accommodate 150 to 600 persons. The Bank computerized the accounting system during 1993-94.

The Bank has three fertilizer depots. They are located at Perumpanachy, Mosco, and Puliamkunnu areas of Madappally Panchayath. Persons appointed on commission basis manage all these depots. One out of these three depots is functioning in own building and the other two on accommodation provided by the commission agents.

The Bank has been authorised by the following manufacturers/ wholesalers to sell their products through its depots.

1. Indian Farmer's Fertilizer co-operative Ltd. (IFFCO) (IFFCO)
2. FACT Ltd.
3. Kerala State Co-operative Marketing Federation Ltd.
4. Kerala State Co-operative Rubber Marketing Federation Ltd.
5. Shaw Wallace & Co. Ltd.

The Bank has One Neethi Medical Store and One Neethi consumer Store Functioning at our Shopping complex, Thengana . Our Neethi Store is selected as the best store in Kottayam District by The Kerala State Co-operative Consumer federation Ltd for the last three years. .

Total Sales during the year 2008-09

Manure and Pesticides Rs. 43,61,321.31
Onam Market & Neethi Store Rs. 33,72,222.90
Medicines Rs. 33,89,233.05
Rubco Furniture, Photostat etc. Rs. 1,75,455.09
Total Rs.1,12,98,232.35

In association with the BSNL we are providing various services of BSNL through our BSNL ONE STOP SHOPPIE. We also provide Mobile phone services of IFFCO KISAN SANCHAR NIGAM LIMITED.

The Bank had won the Best Bank Award instituted by the District Consultative Committee (D.C.C) during 1996-97 for the Best Performance in the implementation of the Service Area Credit Plan.

The bank is the first Service co-operative Bank in the state to organize a farmer's club. The Farmers club was formed in 1991 under the V.V.V. Program of NABARD. Since then, the club has been actively involved in various activities such as organizing Vikas Melas, immunization of cattle and domestic animals, conducting farmers training programs, study tour for farmers etc. The club also took the initiative in identifying and training 50 women entrepreneurs in Anthurium cultivation and forming them into a society.

It was in the year 1996 the club entered into a new phase of its activity of organizing self-help groups (SHGs) The club volunteers as well as the Bank Officials jointly took efforts in organizing SHGs and now there are more than 180 SHGs in the area of operation of the Bank.

The club bagged the best V.V.V. Club award consecutively in 3 years, 1995-96, 1996-97 and 1997-98.

The National Bank for Agriculture and Rural Development identified the bank as a role model and published a leaflet about the functioning of the bank and circulated it among other banks in the state. Brochure Download.


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