Mantharathur Co-operative Rural Bank Ltd

Welcome to Mantharathur Co-operative Rural Bank Ltd

The Mantharathur Co-operative Rural Bank Ltd. was registered as a Co-operative Society on 11.01.1956 and commenced operations on 30.07.1956, serving the Kozhikode District, particularly in the Maniyur Panchayath and Thiruvallur Panchayath, which include the Maniyur, Palayad, and Thiruvallur Villages. Initially, the bank started with its Head Office at Pathiyarakkara.

Today, our bank operates seven branches located in Thiruvallur, Maniyoor, Pathiyarakkara, Palayad, and Changaroth. The primary objective of the bank is to enhance the productivity of our members by ensuring access to quality seeds, fertilizers, and other marketing infrastructure, thus guaranteeing fair returns for their produce. We also contribute to the local community by running consumer stores and Neethi Medicals in our service areas. Additionally, the bank provides support to Kudumbashree members to help increase the productivity of women in our villages.

In February 1962, the bank purchased 15.25 cents of land in Pathiyarakkara and began operating from its own building. The Head Office was moved to Band Road in 2009, where it remained in a rental building until 2017. In February 2017, the bank purchased 196.02 cents of land near Mantharathur for the establishment of new projects, including a Coconut Procurement Unit and a Rice Processing Unit. Furthermore, in July 2017, the bank acquired 17.00 cents of land near the current Head Office on Bank Road for the construction of a new Head Office building. The construction began in August 2017, with Uralungal Labour Contract Co-op Society handling the project.

According to the 2011 Census, the total population of Maniyur Panchayath is 40,421, comprising 18,985 men and 21,436 women. In Thiruvallur Village, the population is 12,071, with 5,726 men and 6,345 women.

Most of our members are agriculturists. In our Panchayath, 22.7% of the land is dedicated to paddy cultivation. Additionally, other crops such as coconut, banana, vegetables, rubber, cashew nuts, and pepper are cultivated in the region.

The silent features of the objective of the society vest on its registered Bye Laws has been detailed below:-

Objective

The main objective of the bank is to finance its members for the development of agricultural activities by raising funds through deposits and through borrowing from central Apex Institution and the state Government. In addition to this the Bank has subsidiary objects of:-

• Distribution of short term, medium and long term Loan to the member of the bank.

• To implement new agricultural methods for the members and also procure and distribute seeds, fertilizers and other articles for the purpose of agriculture and also to procure and distribute all household equipments.

• Improve Cattle farmers of our area to distribute good varieties of cow, goat and duck to the members.

• To start Neethi Stores, Consumer Stores, Reduction Rental Shop and Ration Wholesale Stores in Maniyoor Panchayath.

• To Produce Agricultural Products for the purpose of processing and marketing and to collect, sell and process the agricultural products for the benefits of agricultural members.

• We wish to start a Coconut Processing Centre and Produce Coconut Oil, and allied Coconut products and marketing.

• We wish to start a rice procurement unit in our new land purchased near Mantharathur.

• 8.Under certain circumstances with the permission of the registrar to do the irrigation and other related jobs for the promotion of agriculture.

At present, the Society is focusing its efforts on providing timely credit to its members to support agricultural operations in its area of operation, which includes the entire Maniyur Panchayath and Thiruvallur Village in Vadakara Taluk of Kozhikode District. We are also working to improve the processing facilities for agricultural products produced by the farming families in our region. There are 2,700 farmers and 6,449 agricultural families in our area. In addition, our Panchayath is home to several small village industries, including coir making, weaving, furniture making, and umbrella manufacturing.

The project has been discussed by the Board of Directors of the Society, and it has been resolved to implement the project by seeking necessary financial support from the NCDC for the construction of a three-story building.

Our aim is to provide the latest facilities to our members, utilizing the most advanced technology available in the country. To achieve this goal, we require infrastructural development. We hope that the NCDC will support our mission for a better future.