The bank was established before 60 years in the Marangattupilly village and now the Marangattypally service cooperative bank has got many branches all over the Marangattupilly Panchayath.The steps taken ahead and the golden achievements for the last 60 years are well appreciated by the public.
The Bank has opened with 244 members and the capital amount of Rs.10,645 at Ilakkadu Panchayath(Kottayam Division) and the zonal areas were Kurichithanam and Ilakkadu village.Under the Travancore Cochin Cooperative society act, The bank has registered as Ilakadu village cooperative bank Ltd No. 3556 in the year of 1955 June 12th.The first office was at Marangattupilly company pedika.The office was inaugurated by the former MLA Prof.K.M Chandi.