The Coastal Urban Co-operative Bank, a bank with a difference designed for the indigent fishermen of inland and coastal strip of Kollam was founded by Sri. Raphael J. Rodriguez (Ex-MLA, Travancore - Cochin Government) in '1950. lt was under Banking Regulation Act in 1956 and obtained RBI license. It was set up with the mission of assisting the members of the fisherman community in their economic ventures such as to encourage saving and to create funds for financial assist to deserving members.