History of the Bank
The Kuruvattoor Service Co-operative Bank Ltd, NO.D. 1973, was registered as a Primary Agricultural Co-operative Bank under the Kerala Co-operative Societies Act of 1969 and commenced its operations thereafter. Its area of operation is limited to Kuruvattoor Gramapanchayath, with the head office located in Kuruvattoor, Kozhikode District. Starting from modest beginnings, the bank has achieved significant growth in a short period and now stands on par with some of the leading banks in the area.
Since the fiscal year 2006-2007, the bank was elevated to a special grade bank, and it has recently been further upgraded to a Class I Special Grade. Additionally, a fertilizer depot has been inaugurated to serve the community's needs better.
Currently, the bank operates six branches, including one that functions in the evening, and has embraced modern banking technologies to maximize customer convenience.
Significant emphasis is placed on offering a broad spectrum of facilities to customers. The bank boasts a variety of appealing deposit schemes and loan plans. With the implementation of core banking, we aim to enhance our service quality further. The bank provides a comprehensive range of services, and our interest rates for deposits and advances are among the most competitive across India. We offer a selection of deposit schemes tailored to meet both short-term needs and long-term investments through fixed deposits. Moreover, the bank has introduced various loan schemes designed to cater to the diverse needs of our customers, including loans for home purchase or construction, home repair/renovation, vehicle purchases (two-wheelers and cars), and for acquiring household and consumer durable goods, in addition to various types of microloans.
The Office of the Registrar of Co-operative Societies, Government of Kerala, in Trivandrum, serves as the apex body overseeing the co-operative sector in Kerala. Kerala Bank provides financial support to our bank. This apex body issues directives that must be implemented within the co-operative sector, covering aspects such as interest rates for deposits and advances, types of deposits and advances, loan recovery, security measures, and staff guidelines. As a member of the co-operative sector, KSCB adheres to the guidelines set forth by the Apex Body.