History

Our country had laid the foundation of the World’s biggest cooperative movement which necessitated protecting the interests of weaker sections of society. The philosophy behind the cooperative movement is “All for each and each for all”. With the same principle, our society was established in the year 1978 in the undivided Dakshina Kannada District. Late Madhwaraj, Malpe was the founder president.

In the year 1979, it is obtained a license from RBI to function as an Urban Co-Operative Bank. The Banking activities are spread across Udupi, Dakshina Kannada, Uttara Kannada, Shivamogga, Kodagu, Chikkamagaluru, Bangalore, Bangalore Rural, Hassan, Mysore and Mandya Districts. The Bank has a fully computerized Administrative Office in its own building at Udupi. In addition to a fully computerized Headquarters, it works in 8 fully computerized branches at Malpe, Gangolli, Mangalore, Hejmady, Surathkal, Padu-Uchilla, Udupi, and Kundapura. Out of these branches, Malpe, Mangalore, Kundapura, and Surathkal Branches are operating on their own premises.

Mahalakshmi Co-Operative Bank is one of the leading Urban Co-Operative Bank in the Coastal Karnataka providing 18% Dividends to its members for 15 years. At present, there are more than 18000 members with a share capital of more than Rs.32 crores. Our Bank has given top priority to providing financial assistance for the welfare of fishermen and the development of fisheries in the Udupi and DK Districts. With the intention to provide the best services to the customers, we are introducing ATM, Mobile Banking, RTGS/NEFT, IMPS, and also introducing UPI shortly.