The Anicadu Service Co-Operative Bank Ltd.—1550, is one of the earliest banks in the co-operative sector in Muvattupuzha taluk. The bank started functioning on 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 is at Anicadu, hence changing the headquarters to Anicadu in 1931.
At the same time, the name of the bank has been changed to Anicadu Service Cooperative Society. In 1970, the society started its functioning in its building at Anicadu Chirappady Junction 1972. This society has gained the status of a bank and has become Anicahdu Service Co-Operative Bank Ltd.No: 1550.