Vision of the Bank
- To be the most trusted and preferred financial partner for BMC (Brihanmumbai Municipal Corporation) employees, offering accessible services, innovative financial solutions, and exceptional customer experiences. We aim to enhance financial well-being, uphold integrity and transparency, and contribute to the upliftment and empowerment of our members.
Mission of the Bank
- Our mission is to deliver reliable, member-focused financial services tailored to the unique needs of BMC employees. By embracing digital transformation, fostering financial inclusion, and providing personalized banking solutions, we aim to support economic stability and promote socio-economic development within the community. We are committed to ethical practices, exceptional member satisfaction, and a cooperative approach that drives sustainable growth for the bank and its members.
- To dedicate ourselves wholeheartedly for "People who uphold trust along with business." In Marathi it is "पैशाबरोबर विश्वास जपणारी माणसे".
History of the Bank
- 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 | As on 31.03.2024 | As on 31.03.2025 (Audited) |
|---|---|---|
| 6830 MEMBERSHIP | 0 | 0 |
| Year - 1953 Rupees in Lacs |
Particulars | 31.03.2024 Rupees in Lacs |
31.03.2025 Rupees in Lacs |
|---|---|---|---|
| 9.71 | SHARE CAPITAL | 0 | 0 |
| 0.50 | RESERVE & OTHER FUNDS | 0 | 0 |
| 16.80 | DEPOSITS | 0 | 0 |
| 0.45 | INVESTMENT | 0 | 0 |
| 46.25 | LOANS TO MEMBERS | 0 | 0 |
| 28.02 | WORKING CAPITAL | 0 | 0 |
| 0.24 | NET PROFIT | 0 | 0 |
OBJECTS for which the Bank is established are :-
- To have one financially sound and stable Central Credit Organisation of all Municipal employees instead of several small Wards and Departmental Credit Societies, on starting of the Bank, many Societies were amalgamated with the Bank.
- To undertake Banking business and to open Branch Offices in Greater Mumbai with the object of inculcating the habit of Banking and thrift in the Municipal employees and make banking facilities available for the purpose and on the other hand to give ancillary banking services to the Corporation
1953 TO 2025 :-
- It has 21 branches, situated at, Fort, CST, 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.
- 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.
