The payyoli co-operative urban bank established in 1947 in the leadership of sri.v v subrahmanya ayyar at meladi.The bank was started with 350 shares and 1750 rupees as its initial capital.Bank was registered on 05.12.1947 and started functioning on 30.04.1948.

Banking regulation act and reserve bank control makes bank more acceptable to common peoples. The combined effort of bank administrating body and employees helps banks to achieve new heights.

Bank was started its working with one manager and one clerk on a rental building then shifted to own new building on 1971.Payyoli urban bank achieved the first position in cooperative banking in koyilandy taluk with in short time.

Bank has started its new branch at payyoli angadi on 2010 August 17.Branch was inagurated by industries and commerce minister Elamaram kareem.

Today,the technological impact changed the banking industry lot,payyoli urban bank also on that way. Upgraded with latest technologies. Now the bank fully computerised and has its own data center also. Bank has introduced many modern technology in banking that makes faster and easier baking to the customers.