The Bank has had a very humble but very inspiring beginning. Established in the year 1950 by a handful benevolent members of the Society with a Working Capital of mere Rs.31,000/- to help the common man in times of distress. The Bank today stands tall with a Working Capital of Rs.984Crores with 12 Branches spread across Mumbai, Thane and Raigad District. These founder members were neither with any financial backing nor did they have any knowledge of running a Bank, but they had a very strong zeal to work for the upliftment of the common masses. Their only aim was to help the common working class – the Mill-Workers, Hawkers and Small Time Entrepreneurs and liberate them from the clutches of the money-lenders. They collected small savings from the very common members and provided them with significant amount to help them tide-over their eventualities like family wedding, medical aid, educational aid etc. Even today our honourable founders continue to inspire the members of the Bank, all the customers and borrowers as a whole.
“To emerge as one of the premier and most preferred bank in the country by adopting highest standards of professionalism and excellence in all the areas of working.”
The Bank had gained strong foundation in terms of its membership, resources, assets and profits. During the last 5 Decades, the Bank grew from strength to strength. The Bank had established 12 branches within the jurisdiction of Maharashtra. Since its inception the Bank choose a “Holy Kalash” to symbolize the Bank’s emblems a fitting & appropriate characteristics of a Bank that believed in sincerity, a search for all that is good, a team spirit to achieve its objectives and a service to its members and customers. The Bank has grown in stature, progress in its social and economic objectives and produced an image of what an ideal bank should be. Resultantly, after 66 years, the Bank’s Gross Income crossed the Rs.17.50 Crores marked for the first time.