It was on December 3, 1940 that an “Aikya Nanaya Sangham” was registered and started functioning with its head office at Kolkalam in Ponmala Panchayath under Tirur Taluk (Then Eranad Taluk) of Malapuram district, Kerala. This co-operative movement’s chief promoter was Olakara Kunhimuhammed. while farmers  Olakara Kunhipokar, Vallan Kunhahammed Haji , Parangat Gopalan Nair , Thamarasseri Moidu,  Thamarasseri Kunhahammed, Parambadan Ahammed Kutty,  Koottappulan Abdurahiman, Paramban Kunhimoideen Kutty,  Thottyan Kunhimuhammed ,  K Krishnan Nair , Olakara Kunhimuhammed,  K Parameswaran Mossathu , Pullanippuram Kutti Hassan and   Thorappa Muhammed were its members.

This society was formed to tackle the problems faced by farmers, later this co-operative movement became Kolkalam Service Co-operative Society. It worked under Olakara Kunhimuhammed and Kattikulangara Koimar during 1940 – 67, after which it became Kolkalam Service Co-operative Bank with 7000 members.

Former Leaders