kaipamangalam fishermen's co-operative bank

Kaipamangalam Fishermen's Co-operative Bank Ltd.

Before the independence,According to the India Government(British) act No:2, 1912, Kaipamangalam Arayajana Aikyananaya Samgham Ltd, No.F212 was registered on 1918 November 25. 1919 January 5 it started its operations. In that time Bank’s working area was Chentrappinni, Kaipamangalam and Perinjanam villages.

Kaipamangalam Arayajana Aikyananaya Samgham’s first general body meeting was held in Kaipamangalam Govt. fisheries School On 8th January 1919. From the eleven members attended in that meeting seven nominated to the director board. Its first President was Kovil Thekkevalappil kunjunni alias Velu.

In 1932 Madras Government established Co-Operative act No.6. According to that act in 1949 the firm amendment the bylaw and changed the name to Kaipamangalam Fishermen’s Co-Operative society Ltd.No.2941.

Now the banks working area spread to the four villages ,Chentrappinni, Kaipamangalam, Perinjanam and Koolimuttam respectively. The bank’s annual reports shows increase in deposits, lending, profitability, membership, share capital and working capital, staff and their services. Considering deposits, higher rates of interest are given. The share holders are given adequate dividends.Share holders are very much satisfied with overall performance of the bank. The procedure for taking loan is very simple. So there is very much possibility for getting loans to every applications. All customers are given adequate consideration. Loans are given comparatively lesser rates.

Chronological order of presidents

08/01/1919 to 22/04/1923       Kovil Thekkevalappil Kunjunni alias Velu
23/04/1923 to 30/06/1928      Bavu alias Raman
01/07/1928 to 31/12/1948      Ayyappankunji Master
01/01/1948 to 31/12/1957      K.C.Velandi
01/01/1958 to 15/04/1962      Kaithavalappil Kunjikilavan
16/04/1962 to 19/08/1992      K.C.Velandi Kozhiparambil
20/08/1992 to 30/06/2003      K.U.Raman Kozhiparambil
01/07/2003 onwards              A.V.Watson Allapuzha.

Mission

To improve the living standards of fishermen community
To buy fishing equipments such as boats, nets and fish processing units and rent the same to members.
To provide the fishing folk new insight in to the emerging trends and changing technologies in fishing industry and encourage them to adopt it.
To set up schools and provide better education for the members and their children.
To develop co-operation, self reliance and saving habits among the members
To help our people from high interest of private bankers.
To nourish the fishing sector by providing knowledge and training.
To help and improve traditional workmanship. Make the people aware about the cooperative ventures.
To lead the village and villagers to their bright future.

Objectives

To improve the living standards of fishermen community by acting as an agent for the purchase and distribution of commercial and other amenities.
To buy fishing equipments such as boats, nets and fish processing units and rent the same to members.
To provide the fishing folk new insight in to the emerging trends and changing technologies in fishing industry and encourage them to adopt it.
To set up schools and provide better education for the members and their children.
To develop co-operation, self reliance and saving habits among the members.
To set up branches, if necessary within the region of the branch with the permission of the registrar of fishermen co-operative society.
To develop co-operation, self reliance and saving habits among the members.
To buy and sell fishing equipments.
To give vocational training to members and help them to establish self employment projects.
To build mechanized or other boats and use them for the benefit of fishermen.
To give vocational training to members and help them to establish self employment projects.
To set up workshops and service centers to repair the out board motors of the fishing boats.
To be an instrument in the educational and cultural development of fisher folks.
To promote the health and hygiene consciousness among fishermen service to weaker sections and providing medical aids.
To provide loans up to Rs.50000/- for self employment, in the recommendations of Taluk industrial department to “A” class members.
To start establishments to make available machine tools, oil, diesel, gas and spare parts needed for fishing equipments.
To start consumer stores, neethi medicals,
To provide fertilizers to farmers with subsidy rates.