What it does
The National Co-operative Bank Ltd. (National Bank) was incorporated on 21.05.1947 and has completed its 74th year of providing a wide range of Banking & Financial Services including Commercial &Retail Banking and Treasury Operations through its 17 branches and Head Office in Mumbai.
In early 1947, Weaver Community of South Mumbai promoted a credit co-operative society under the name “Bombay Weavers’ Credit Co-Op Society Ltd. In the year 1951, the above name was changed to “The National Co-op. Bank Ltd.”
The present management took reins of the Bank on 3rd January 1989 with two branches, Rs.3 crore in Deposits Rs.2 crore in advances.
Bank has grown to 17 branches with over Rs. 506.22 crores in Deposit and over Rs. 217.04 crores in Advances as of 31/03/2021. The bank is proud of its large & diverse Clientele which has grown by leaps and bounds with it.
Bank has successfully implemented the Core Banking Solution (CBS). This has resulted in extending Value Added Services to its clientele. Bank now offers ATM, Mobile Banking & Internet-enabled services.
Mission
Bank has set a Visionary Growth Plan focusing its business strategy on the creation of its Staff, Clients as well as Shareholders’ Value.
Services
- Any Branch Banking.
- First Co-op. bank in Mumbai to implement computerization.
- ‘May I help you?’ counters in all the branches.
- All 7 days banking in a week in 4 branches.
- Safe Deposit Lockers Facility in 2 branches.
- Insurance cover on deposits up to Rs.1lac.
- 0.25% Additional interest on Term Deposits of Senior Citizens and Registered Societies females with no age bar.
- RTGS/NEFT & E-Payment of Taxes.
- Bancassurance, Pancards
- Vehicle Loans on Soft Terms as regards Rate of Interest, Margin, Share money, etc.
- Fixed Rate of Interest on all Term Loans including Housing Loans, turnkey Projects, etc.
- SMS alerts on your mobile (Both Pull & Push Services)
- ATM / Rupay Debit Card, Internet Banking.
- Tie-up with Birla Sun Life for Life Insurance & Bajaj Allianz for General Insurance Products.
Best known for
- Highly Professional Board and Pragmatic Decision Makings.
- All the decisions of the Board are unanimous.
- Consistent Profit & Growth.
- Strong Internal Reserves.
- Continuously graded ‘A’ in Audit.
- ‘Nil’ Net NPA.
- Broad-based Borrowal Clientele.
- Committed to ‘Upliftment of Downtrodden’.
- Priority Advances Target crossed.
- The only cooperative bank having its branch at Nariman Point.