Kuttanellur Co-Operative Society was sanctioned and registered in 1948 under the relevant Cochin Government Act on an application for the same put forward by late Shri M.R. Nambeesan along with a set of compatriots. The Society formally began functioning on March 11 1949.The first elected President of the Bank is late Shri A.C. Ramankutty. Two others of the Societies earliest Presidents are Shri A.R. Sreedharan and K. Madhava Varrier .