The beginning A dedicated group of social workers and labour movement activists, imbued with the spirit of service to the cause of mill workers, other industrial and hitherto neglected economically weaker sections started Abhyudaya Co-op. Credit Society Ltd. in 1964, with a small share capital of 5,000. The area of Kalachowki, Sewri, Parel and theirsurrou nding s were predomi nantly populat ed by low incom e industrial labour and lower middle class at that time. Within a short span of time Abhyudaya Co-op. Credit Society got converted into an Urban Co-op. Bank. Finally in June 1965, Abhyudaya Co-op. Bank Lt d. was establ ished wi th the motto of "Prosper it y through Co- operation". A forward march The Bank was conf er red Scheduled Bank status by Reserve Bank of Indi a in September 1988. Over a span of 45 years, it became a leading Urban Co-op. Bank in the country with branches in Metropolitan Mumbai, Navi Mumbai, Pune, Thane, Raigad, Nagpur, Nashik, Nanded, Kankavali and Aurangabad in Maharashtra State, Vadodara and Ahmedabad in Gujarat State, Udupi and Mangalore in Karnataka State. On 11.01.2007 the Bank was registered as a MultiState Co-op. Bank by the Central Registrar, New Delhi. The area of operation of the Bank is confined to 3 states - Maharashtra, Gujarat and Karnataka. The Bank however proposes to extend its area of operations to other states. Shree Krishna Sahakari Bank Ltd., Vadodara, Gujarat State, Janatha Co-op. Bank Ltd., Udupi, Karnataka State and Manekchowk Co-op. Bank Ltd., Ahmedabad, Gujarat state has been merged with our Bank18. Forthe year 2011-12 Bank has a vision of opening more 15 branches thereby achieving the target of 111 branches & business mix of 11,000 crore. Growth & Strength As on 31/01/2011 the bank has 1.38 lakh members and more than 13.07 lakh depositors. During FY.2009-2010 our bank has achieved substantial growth in all perspect ives refl ectin g an ov er al l gr owth of 34% in busi ness mi x. The same consistent growth is continued during past 11 months (F.Y.2010-11) & total business mix of the ba nk has reac hed upt o Rs 8600 cro re. As on 25 th March 2011 Bank’s Deposits has reached upto Rs 5200 crore with rise of 25% on y.o.y basis and
