The Present Mananthavady Service Co-operative Bank was the Mananthavady ‘Ikya Nanaya sangam’ Registered on November 12,1919 under the Leadership of chief Promotor, T.Gabriel and Started functioning in the heart of Mananthavady on December 10, 1920 under the Leadership of T.Gabriel as the First President and P.C Krishnan Nambiar as the first secretary long before the Independence of India

It has been registered as the Service Co operative Urban Bank in 1950 and as the Service Co-Operative Bank in1961.It has been registered as one among the twenty farmers service Banks in Kerala in 1978. At Present, it is Functioning at Special Grade 1

The functioning of the bank is limited to Payyemballi and Mananthavady Village in Mananthavady municipality and also Edavaka Village in Edavaka Panchayat addition to the Mananthavady Head Office, The Bank has one branch each at Payyam Pally and Edavaka an Evening branch at Mananthavady and Town branch and Koyiler Branch. The Bank is in Progress Though being started functioning in simple manner. The bank has its own building in which the Head office and three branches are functioning .At present it has No.13436 ‘A’ class members and No.39528 ‘C’ class members. The majority of its members are small farmers and Agriculture workers

The bank has Recived Rs 5 Lakh as grant from the government for giving away the Number of Agriculture Loans in the District during the period 2000-09 the grant has been utilised for setting of a Fecilitaion Centre for developing Knowledge of its farmers members. There is also a Library for enhancing Knowledge and developing the habit of reading of its employees and members ,

The Bank is the sole Agent of FACT, in Mananthavady’s Taluk has and a Neethi Medical Store, it has a shopping complex, estimated to be 6000 feet in area under its ownership .At present 24permanent employees and 6 collection Agents for investment are working in the Bank. There is a Committee 15 members for the administration of the Bank The President is Advocate N.K. Varghese and the Managing Director is Manoj Kumar( In Charge)