In a remote place called MUTTOM, 8 Kms off Thodupuzha an association of three comrades namely Ouseph Ouseph Pallivathukkal, M A Thomman Madackal and K J Mathew Kallarackal commenced operations on 28th August 1961 under the auspices of “FRATERNAL FUND”. The main objective of the firm was to act as Bankers and Chit Foremen for the local people. “Prosperity through Brotherhood” was the motto of the business as the name indicates.

At that time, it was a blessing to the local community as the Palai Central Bank Ltd, the epicenter of all banking activities of the local population was liquidated.

On15th March 1962, the venture became a registered partnership firm with nine shareholders. The firm was registered vide No 216 of 1962 in the office of Inspector General of Registrations Trivandrum and Mr M A Thomman & K J Mathew remained Managing Partners..

The business grew many fold in the years that followed and by the 1970’s, Fraternal Fund had around 4000 Chit subscribers with 10000 chit tickets. The mushrooming of various chit companies through the state and the fund diversion by them, forced the State Government to implement The Kerala Chit Act in the year 1974 by which the maximum value of chit was fixed @ Rs.25000/-. The said ceiling was not timely amended for increase of chit value. This coupled with the high stamp duty on private chit funds reduced the business in the later years. After the demise of founder Managing Partner Shri M A Thomman in the year 1993 and the demise of many other partners in the earlier years, the interest in business came down. By the year 2000, almost all the Chits were over and the 40 year old business slowly wound up.

Many of the erstwhile customers of Fraternal Fund used to narrate the financial empowerment brought in by Fraternal Fund to the common man and about the beauty of business like this when they met the next generation. Encouraged by this, the sons of Sri K J Mathew, the founder Managing Partner and Sri Gino Pulickan, grandson of partner late P F Joseph, Pulickal decided to set up a chit fund to cater to the needs of the common man. As the Kerala Chit Fund Act was not conducive to Private Sector entrepreneurs, a company was registered at Bangalore- FRATERNAL CHIT FUND (PVT) LTD. The Board of Directors of the company comprises of Mr. K M George Roy, B.Sc., F C A, Mr. Gino Pulickan and Sri Herbert E Thadathil. The principal share holders other than the Directors are Sri. K. M Joseph Binoy, Sri K Mathewson, and Dr.K M Thomas Rony.

The company commenced operations on 19th January, 2012. The First Chit was commenced on 5th March, 2012.