The Tiruvalla East Co-operative Bank is a RBI licensed urban co-operative bank registered under the Travancore - Cochin Co-operative Societies Act with register number 3260 on October 16, 1952 with head quarters at Eraviperoor. This Bank is extending yeoman services to the people of Central Travancore for more than 70 years.
The official inauguration of the Bank was done by the Registrar of Co-operative Societies Mr. P. Gopalan Nair on 10th February 1953. The Bank was started just by 66 members collecting a share capital of Rs 3690. Mr. K. V. Varghese (President from 1953 to 1966), Mr. M. O. Varkey (President from 1967 to 1969), Mr. M. O. lype (President from 1970 to 1972), Mr. P. O. Oommen (President from 1973 to 1975) and Mr. T. B. John (Secretary from 1953 to 1976) were the founder leaders.
The Bank started branch banking at the time when branch banking was unheard of in the co-operative sector. The first branch of the Bank was started functioning at Keezhvaipur in 1955. Additional branches were also started at Koipuram (1958), Perumpetty (1960), Thadiyoor (1964), Vaipur (1965), Punnaveli (1971), Kumbanad (1973), Kuriannoor (1974), Vennikulam (1974), Kallooppara (1978), Ayroor (1978), Othera (1978), Ezhumattoor (1979), Mallappally (1979), Chungappara (2013), Kuttoor (2014) and Valakuzhi (2014). At present the Bank is having 18 branches including the Eraviperoor head office branch. The Bank came under the regulatory control of the Reserve Bank of India and was officially licensed by the RBI on 29th December 1986. Now the Bank is functioning under the dual control of the Registrar of Cooperative Societies and the Reserve Bank of India.
At present, the Bank's area of operation is extended in 12 grama panchayats viz., Eraviperoor, Mallappally, Koipuram, Kottanad, Ayroor, Kottangal, Anicad, Thottapuzhassery, Puramattom, Kallooppara, Ezhumatoor and Kuttoor. The Bank, which had been operating at very high standards, is now functioning smoothly. The present Board of Directors came to power on 28th November 2021, while the Bank was under the Supervisory Action Frame work (SAF) of the RBI. The present Board of Directors is striving hard to bring the Bank under the adherence of all regulatory guidelines issued by the RBI viz., maintaining the CRAR above 10%, Net NPA below 7% and working regularly on profit. These efforts are being taken to overcome the restrictions imposed by the Reserve Bank of India. It is hoped that the present Management will definitely be able to lead the Bank in the path of growth and development.