The Malad Nagarik Sahakari Pat Pedhi Ltd. was started in 1968 by the following persons residing in Malad (West) with initial contribution of Rs.10.00 per month. It was started with a view to cater to the need of lower middle class people of the society.
The office of the society was operated from the residence of Dr. Wakankar, Mamlatar Wadi, Malad (West) and then shifted to a garage at Liberty Garden and subsequently shifted to Yamuna Building, Malad (East). The Credit Co.Op.Society was subsequently converted into "THE MALAD SAHAKARI BANK LTD" in 1975-76 and started functioning on the auspicious day of Gudi Padva. i.e. 31st March, 1976. Shri Devchand Sheth, leading businessman in Malad inaugurated Bank in the Programme conducted at "SARAF MATRU MANDIR HALL" Malad (East). Other dignitaries were Dr. Shri Shreemal, the then Managing Director of Maharashtra State Co.Op.Bank Ltd. Mumbai and Dr. Mohanbhai Patel, Industrialist. The Bank was headed by the following eminent Directors
During the period 1978 to 1989, Shri Sharad P.Sathe and Shri Shantilal M.Chauhan were Hon’ble Chairman and Hon’ble Managing Director of the bank respectively. The bank started growing in size over the periods and today it has 5 branches and one Extension counter. Bank is ATMs at Main Branch, Bombay Talkies Branch and Kurar Village Branch. Bank has been catering to the financial needs of various cross sections of the society.
Late Shri Udaynarayan Mishra had taken lot of pains not only to increase the membership of the Bank but also assisted the downtrodden section of people residing in Kurar Village and thus was named "Chalta Firta Bank" by the Members of the Bank. Shri Rameshbhai C.Trivedi, retired Manager of Dena Bank managed the affairs of the Bank as first Chief Executive Officer (CEO) and after his retirement Shri M.R. Nayak, Shri K.Gopalan, Shri R.Vedamurthi & Shri M.J. Prabhune managed the daily affairs of the Bank as CEO of the Bank.
At present the Bank has 4 Fully Functioned ATM's at Main Branch, Kurar Village Branch, Bombay Talkies Branch and LG Extention Counter. The Bank has launched IMPS- New Generation Banking through “App Based” Banking product IMPS app and UPI app. In which customers can use this app. 24*7*365.
Bank is a Member of "Rupay Network of ATM's which is spread over 100000 + ATM's throughout the Country. Bank is also direct member of RBI in RTGS / NEFT product, now our Bank customers can use the new IFSC code of the bank in all digital channels like RTGS / NEFT, IMPS and UPI channels throughout the country.
The Malad Sahakari Sahakari Bank Ltd is registered with DICGC