The Kuttiyeri Service Co-operative Bank, initially registered as a multipurpose co-operative society on March 13, 1914, underwent a transformation into a cooperative society on November 5, 1961. Since March 7, 1980, it has been functioning as a cooperative bank. The Kanhirangad branch commenced its operations on February 25, 1990, followed by the Talor Pushpagiri branch on January 1, 1999, and the Karkk branch on December 6, 2004. Additionally, the main branch at Vellavu has been operational since May 1, 1997.
The Karivellur Farmers' Club farmers' cooperative working under the aegis of Karivellur Service Cooperative Bank with the approval of NABARD, has been working since 2010 with the aim of making Karivellur village a self-sufficient agricultural village. There are 25 members in the club. The club is conducting a number of innovative programs in the agricultural sector, keeping in mind the ideas of food security and safe food. Under the leadership of Shri. K.V. Kunjiraman, President, and Kana Govindan, Secretary, the club's activities, such as kitchen gardens and terrace vegetable cultivation, have strengthened people's interest in agriculture. By providing seeds to farmers free of charge and at concessional rates, conducting discussion classes and training on pest control on the banks of the paddy fields in a timely manner, and organizing a farm lesson program for students, the Farmers' Club has become a close friend of farmers. In the last 8 years, the club has been able to provide benefits to 3685 farmers. In addition, the club has already been able to distribute planting materials of fruits, vegetables, root crops, and aromatic spices to farmers at a reasonable price by purchasing them from the Agricultural University. The money collected by the club is used only to provide services to farmers. The Farmers' Club is a fully voluntary service organization for farmers.
