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 :-
(Rs. in Lacs)
(Rs. in Lacs)
||Reserve & other funds
No. of Branches 21 and 5 Octroi Collection Centres.
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.
Bank has started ATM facility in six branches those are Mulund T ward, Sion,Byculla, Bandra, Parel and Nair hospital with NPCI's Rupay card all over India. Bank's ATM cards can be use as debit card on POS machines.
Bank has started SMS alert facility to Depositors