As history dates back, it is documented that the ancestral house named as "Vengasheri illam" was situated in Palayur.In those days,there was a famous Namboothiri house in Tiruvalla Taluk known as the "Vaikathillam".The Nedumpuram place had a famous 'Kalari' ( Martial Art Centre), but not a single educational institution.At that time, Sri.Iype who hailed from the Vengasheri illam came to Nedumpuram and took the responsiblity of the educational institution at Vaikathillam.Sri. Iype being a trust worthy and respected Sansrit scholar soon took the administrative charges of the Vaikathillam. He relocated from Nedumpuram of Thiruvalla Taluk to the banks of Manimala river to Vengal House. Mr. Iype had two sons and the eldest son- Mr. Kochu Iype started staying in Vengal Mundakathil. The youngest son Sri.Varkey settled in Pulikeezhu-Vengal Thundiyil.
In A.D 1775, Sri. KochuIype who hailed from Nedumpuram married Mariamma and later came to Amichakary and started to stay at Vengal Mundakathil.They had four sons and one daughter. The eldest son was Sri.Varkey (PadinajareVeedu),the second son was Iype (Puthen Veedu),the third son was Mathunny (Puthenpurackal) and the fourth son was Idicheria (Tharavadu).Sri KochuIype's only daughter was married to Chakalayil Varkey Koruthu in Thalavady.
Amichakary Vengal Orthodox Church
Niranam Valiyapally was the only nearest church to Amichakary, and it was at a very far distance of over 5Kms and the Vengal family found it difficult to take part in the Holy Qurabana regularly due to various reasons.The family at that time realised a great need for a church in the close vicinity of Amichakary. As a result the brothers Sri.Idicheria Gheevarghese & Sri.Idicheria Oommen donated a plot of 40 cents at the eastern portion of Vengal Tharavadu for the construction of the church.
Nedumbram Christos Marthoma Church
A portion of the Vengal family members got separated from the Orthodox Sabha and joined the Marthoma Sabha.In 1905,they built a church on the banks of Manimala River.Earlier the church services was conducted in a thatched shed but in 1923, the foundation was laid for a concrete building and in 1928 Abraham Suffragan Metropolitan solemenized the church for conducting the Holy Qurabana.
Vengal Kudumbam Company
For over four generations,the Vengal family's main source of income was from Agricultural Farming.But from the fifth generation onwards our forefathers started to diversify into other fields.
In A.D. 1907, June 27, the Vengal family,with a joint stock of 22 shares formed a parternship and registered a company named 'Vengal KudumbaYogam Company'. Rice and Money were lend as loans,in the beginning,as the main income source for the financial securityof the family . It was initially formed for the development of the Vengal family,but within a span of 14 years of its service the members entered into legal disputes with each other and this resulted in the smooth functioning of the company.Difference of opinions and heated arguments raged for over 55 years.This incurred a heavy financial loss to the company and the social relationship between family members were disrupted.At last in the year 1976, an amicable settlement was reached between the family members and all the chargesheets against the individuals were withdrawn.
Indian Engineering Company
Though the Vengal KudumbaYogam Company failed to have a smooth take-off,some of our forefathers had the vision to start other businesses.One such kind was the Indian Engineering company which was started in 1927 by Sri.V.M.Varghese.
Though its main office was started in Coimbatore,the companies branches soon spread to Madurai,Coonoor,Mettur and Aravankodu. The company had done an important role in the construction of the Peelemade Airport in Coimbatore and the Corediet factory in Aravankodu.Due to the ill-health of the Managing Director the functioning of the comapny was closed down.
Vengal Kudumbam's Banking Venture
1. Travancore Federal Bank
Not many of them know the truth that Federal Bank which is now a major bank in the private sector had its humble beginning in the Vengal family.
In the year 1931,Travancore Federal Bank was inaugrated at Varuttisseril (Puthenpurackal , a branch of the Vengal family tree).It was formed by a group of 14 members which comprised of Sri.Vengal Varuttisseril Oommen Varghese, his brothers Oommen Chacko, Oommen Kurian, Oommen George and also another person from Tiruvalla Kavumbhagam Mundapallil Lukose and others. Oommen Varghese was the Chairman, Oommen Chacko the Manager.After functioning for nearly 10 years, the banks day to day transaction had to be stopped due to the ill-health of the Manager.
Understanding this situation,an Adovacate from Perumbavoor named Sri.K.P.Hormis and his acquintances joined together and bought the bank for a huge price and took over the management.In 1945,the bank's headquarters was shifted to Aluva and Sri.K.P.Hormis became the Managing Director.In 1947,the bank's name was shortened from Travancore Federal Bank to Federal Bank.The bank's development and stable growth thereafter was astounding and has now become a history.
2. Village Bank
In 1930, at Amichakary Vengal Puthenveetil, a village bank was started.Fixed Deposits,Saving Accounts,Chitty, Gold Loan and Money Lending were the main activities of the bank.After 10 years the bank stopped functioning.
3. Vengal Trust Fund
Under the inspiration of Oommen Vengal of Tharavadu Vengal branch, his brother Jacob Vengal, in the year 1940 started the Vengal Trust Fund in Trivandrum. In 1942,Jacob Vengal passed away and his brother Cherian Vengal became the Manager of the Trust.Since Cherian Vengal was employed with the Railways,his brother Varghese Vengal became the Manager.The bank during his tenureship was moved from Trivandrum to Nedumbram village in Tiruvalla.In 1967, Sri. Oommen Vengal after retiring from the State Transport Corporation took over the management of the bank and brought it back to Palayam, Trivandrum.Now his youngest son James Vengal is the manager of the bank.Another branch of the Vengal Trust is functioning at Kesavadasapuram in Trivandrum under the management of Sri.Oommen Vengal's second son Jacob Vengal.