The anicadu Service Co-Operative bank Ltd- 1550 is one of the earliest banks in co Operative sector in Muvattupuzha taluk. The bank started functioning in april 13th 1927, as the perengazha Christian Parspara sahaya sahakarana Sangam in a church building, now 84 years have passed since the bank started functioning. Even though the society started functioning at Peringazha, the majority of its working area was located at Anicadu, so that its headquarters has been shifted to Anicadu in 1931.
At the same time, the name of the bank has been changed to ‘Anicadu Service co-operative society’. In 1970 the society started its functioning in its own building at Anicadu Chirappady Junction 1972. This society has been upgraded to the status of ‘Bank’ and becomes The Anicadu Service Co-Operative Bank Ltd No: 1550. Now it is working under the category of class 1, having 11 working staff. Now it is working area consists of 11, 12, 13, 14, 15, 16 wards under the Muvattupuzha Municipality. 1, 2, 3, 4, 5, 11, 12, 13, 14 wards under the Avoly Panchayath . 1, 2, 3 wards under the Arakkuzha Panchayath and Peringazha under the Marady Village