Estd in 2004,  Vellangallur Peoples Welfare Co-op Society was formed by a bunch of sahakaris,  for providing banking services like Deposits Investments chitty etc. to the common man.  This is the only social welfare society operating in Vellangallur Panchayath. The organization is governed by Board of Directors elected from the members and is controlled and audited by Govt. of Kerala.