A yearlong celebration will mark the 100th year of the Anjarakandy Farmers’ Service Co-operative Bank at Anjarakandy near here.
The centenary celebration will commence with an inaugural function at Anjarakandy Higher Secondary School ground at Kavinmoola on March 6. Communist Party of India (Marxist) State secretary Pinarayi Vijayan will inaugurate the function. K.K. Narayanan, MLA, will preside.
The bank, which claims to be the oldest bank in the co-operative sector in the State, was started with 11 members and a total share capital of Rs.27 on February 1, 1914. It grew to a large size primary co-operative agricultural society in 1959, a service co-operative bank in 1961 and to its present stature in 1977. The bank currently has a series of other business units including LPG gas agency, fertilizer, cement, coconut processing unit, textile shop, Sahakari medical unit and Sahakari coconut oil.
Currently, the bank has a total deposit of Rs.94 crore, a working capital of Rs.100 crore and advances totalling Rs.86 crore. The total number of employees in various departments in the bank is 150 including 74 permanent staff.