The Bank was registered under the Co-operative Societies Act in the year 1952 and started functioning from April, 1953....
The late Shri B.K. Patel, I.C.S., Ex. Municipal Commissioner, was the principal architect of this Institution which he founded in 1952. Shri Patel with his high sense of public service gathered around him a band of selfless Municipal employees and convinced them that through Co-operative effort Municipal employees could help not only themselves and others in financial difficulties, but could also educate and help them in building up credit
Thus inspired by lofty ideals for the betterment of the economic and material well-being of the Civic employees, the Bank was launched with the modest beginning.
On the strength of the support and invaluable contribution made by Shri B.K.Patel and the kind patronage and guidance of successive Municipal Commissioners, the Bank could make considerable progress since then as shown below :-
| Year 1953 6830 Rupees in Lacs |
Particulars | 31.03.2026(Audited) Rupees in Lacs |
|---|---|---|
| 9.71 | SHARE CAPITAL | 15716 |
| 0.50 | RESERVE & OTHER FUNDS | 87216 |
| 16.80 | DEPOSITS | 481106 |
| 0.45 | INVESTMENT | 270263 |
| 46.25 | LOANS | 313182 |
| 28.02 | WORKING CAPITALS | 621871 |
| 0.24 | NET PROFIT | 7740 |
Bank has 21 branches to meet your Banking needs
From 1960 onwards the Bank, undertook and developed the Banking business.
It has 21 branches, situated at, Municipal Head Office, Fort, Marine Lines, Nanachowk, Parel, Ghatkopar, Mulund, Bandra, Byculla, Deonar, Chembur, G/South, L.T.M.G. Hospital, Andheri (W), B.Y.L. Nair Hospital, Kandivali, Borivali, G/North, Andheri (E), Bhandup (W),Goregaon and Head Office at P. D'mello Road, Fort.
Bank has started ATM facility in Thirteen branches those are Cst, Deonar, B ward (Offsite ATM) ,Mulund T ward, Sion, Byculla, Bandra, Parel, Nair hospital,Borivali,Worli Hub (Offsite ATM), Kapurbavdi (offsite ATM), Chembur. Bank became member of NPCI for their NFS's "RuPay Card" for accessing RuPay member Banks ATMs all over India from May 2013. Rupay ATM card now can use as Debit card on POS machine.
Bank has started SMS alert facility to Depositors
The Bank comes under the purview of the Banking Regulation Act.
The Bank has collected Rs. 108594/- lacs from Bank’s Shareholders in the form of Compulsory Deposit payable on retirement from the Municipal Services or resignation of the membership of the Bank.
Four Directors nominated by The Municipal Commissioner constitute stabilising factors in the Management. Likewise the Municipal Commissioner, Addl. Municipal Commissioner/Dy.Municipal Commissioners respectively lend prestige to the Bank and they hold corrective influence on the Board and the General Body.
Bank provides RTGS/NEFT facility to customers without any charges.