It was during this period that, under the leadership of Hon. Shri Jaywantrao Katkar Saheb, a prominent local leader from the Mahalaxmi Nagar area of Ambernath, Shree Mahalaxmi Nagari Sahakari Patpedhi and "अंबरनाथ मैत्रिणी औद्योगिक उत्पादक संस्था" were established. The primary objective behind establishing the cooperative credit society was to provide financial assistance to poor and needy people facing difficulties in their daily lives and to create opportunities for young people to build capital for businesses and become financially self-reliant.

With the blessings of the then Minister for Food and Civil Supplies, Hon. Shri Nakulji Patil, the foundation stone of Shree Mahalaxmi Cooperative Credit Society was laid on 28 August 1989. The institution began functioning under the guidance of its Founder Chairman, Hon. Shri Jaywantrao Katkar.

In its very first year, the institution had 460 members, built share capital of Rs. 87,000, mobilised deposits of Rs.1,50,000, and disbursed loans amounting to Rs.2,15,000. It recorded a first-year profit of Rs.5,271. Since the institution did not have its own office, its operations were conducted in the evening from a warehouse used by the Industrial Producers Cooperative Society's ration shop, with staff literally sitting on grain sacks while conducting the society's business.

After nearly eight years, on 3 January 1997, the institution established an independent office on a rental basis at Indira Gandhi Chowk, Mahalaxmi Nagar, Ambernath, enabling the credit society to function on a full-time basis.

Expansion and Growth

After a challenging journey of ten years, the institution began witnessing a steady increase in public trust and business. Recognising this growth, the Board of Directors adopted a policy of expanding the branch network. On 25 February 2002, the institution commenced operations of the Badlapur Branch in its own premises. By then, the institution had achieved a total business volume of approximately Rs. 4 crore.

As the branch network expanded, the institution's financial growth also accelerated. The Board of Directors understood that the growth and stability of a cooperative institution depend upon financial discipline. Accordingly, along with deposit mobilisation and loan disbursement, the institution placed strong emphasis on loan recovery. As a result, the institution consistently remained profitable and continuously secured "A" Grade in statutory audits.

This strong financial performance enabled the institution to regularly submit proposals for branch expansion to the authorities and obtain the necessary approvals. Subsequently, the institution commenced the following branches:

Dombivli Branch – 30 January 2004

Kalyan Branch – 4 June 2007

Titwala Branch – 13 April 2008

With this expansion, the institution emerged as a leading cooperative credit society serving the areas of Ambernath, Badlapur, Dombivli, Kalyan and Titwala. The institution's business grew significantly.

During this period, the Board of Directors continued its policy of strengthening the institution's physical infrastructure. The Badlapur Branch was shifted to an expanded premises owned by the institution. At Ambernath, a property measuring approximately 1,250 square feet was purchased in the Vadavali area for the branch office. The office was inaugurated on 7 November 2009, and the Ambernath Branch began functioning from its own premises.

Through the expansion of five branches, including Ambernath, the institution successfully earned the confidence of its members, depositors and customers. On 24 August 2014, the institution proudly celebrated its Silver Jubilee.

Customer-Centric Services and Technological Advancement

With a strong focus on providing excellent customer service, ensuring financial security for depositors, maintaining regular loan recovery and providing satisfactory dividends to members, the Board of Directors has always followed the principle of "Customer First" and remained committed to protecting the interests of its members and customers.

To provide members with updated information and efficient services, the institution embraced technology and introduced computerised banking services. Keeping pace with changing technology, the institution implemented the Core Banking System (CBS) and provided facilities such as Mobile Banking, NEFT, RTGS, Cheque Clearing and SMS Banking to its members.

With the objective of providing locker facilities to members, Locker Services were inaugurated on 31 July 2016 at the Ambernath and Badlapur branches.

As all branches continued to grow financially with strong support from members in their respective areas, the Board of Directors adopted a policy of making all branch offices institution-owned. Accordingly, the institution acquired its own premises for the Kalyan West, Titwala and Kalyan East branches.

Reaching New Milestones

The institution's financial business continued to grow steadily. As of 31 March 2019, the institution achieved a combined business volume of Rs. 90 crore.

Recognising the institution's growing performance, Hon. Shri Kiran Sonawane, District Deputy Registrar, Cooperative Societies, Thane, visited the institution and provided valuable guidance for its further development. He also encouraged the institution to submit proposals for expansion of its area of operation and branch network.

Responding to this guidance, the institution submitted the required proposal, which was subsequently approved by the Hon. Commissioner and Registrar of Cooperative Societies, Maharashtra State, Pune. The institution was granted permission to operate across the entire Konkan Division and to open a new branch at Shahapur.

Within just three years of its establishment, the Shahapur Branch achieved a business volume of Rs.12 crore, following which the institution purchased its own premises for the branch.

As the institution now had a network of six branches, there was a growing need for an independent administrative office to ensure effective departmental coordination, supervision and control. Accordingly, land was purchased adjacent to the Ambernath Branch for an independent administrative office. The Administrative Office was inaugurated on 7 July 2022 at the hands of Hon. Shri Vilasrao Desai, Founder Chairman of Ambernath Jai Hind Co-operative Bank Ltd.

Social Commitment and Community Service

During its 36-year journey, while continuously contributing to the economic upliftment of ordinary members of society, the institution has also fulfilled its social responsibility on numerous occasions by extending direct and indirect support to the community.

On 26 July 2005, when severe flooding affected the Badlapur region, the institution extended assistance by distributing educational materials to school students from surrounding rural areas.

With the objective of encouraging sporting talent, the institution provided financial assistance to various sports organisations and also organised cricket tournaments. To create opportunities for self-employment among poor and underprivileged women, the institution distributed sewing machines.

The institution has also supported families of deceased members by providing insurance benefits to their nominees. From time to time, health check-up camps have been organised, offering medical tests and treatment either free of cost or at nominal charges. Eye check-up camps were conducted where free examinations were provided and spectacles were distributed free of cost. The institution has also organised blood donation camps.

Service During the COVID-19 Pandemic

During the COVID-19 pandemic, the nationwide lockdown resulted in the closure of almost all establishments except essential services. At this critical time, while strictly following all government orders and safety regulations, the institution continued its operations without closing its offices for even a single day, ensuring that members and account holders continued to receive essential banking services.

Alongside this, in keeping with its sense of social responsibility, the institution distributed essential commodities to people in need.

As part of its commitment to environmental conservation, the institution also planted 300 saplings in Murbad and undertook their maintenance and nurturing.

Recognition and Awards

During the institution's journey, Hon. Chairman Shri Prakash Shankar Patil has served as one of its longest-serving office bearers. Under his leadership and through his dedicated efforts, the institution received significant recognition for its contribution to the cooperative movement.

In recognition of its contribution to the cooperative movement, audit performance, social initiatives and commitment to quality, the institution was awarded First Place in the "कोकण पतसंस्था भूषण पुरस्कार 2025" in the category of institutions having a business volume between Rs.100 crore and Rs.200 crore. The award was jointly presented by the Divisional Joint Registrar, Cooperative Societies, Konkan Division, and the Konkan Division Urban Cooperative Credit Societies Federation Ltd., Alibag, along with a memento and a cash prize of Rs.10,000.

Furthermore, on 30 May 2026, recognising the institution's noteworthy contribution to the cooperative sector, customer-oriented services, financial discipline, innovative initiatives and social commitment, the institution was honoured with the prestigious "महाराष्ट्र उद्योगरत्न पुरस्कार २०२६ ", presented by Resel.in, Nashik.

These awards are not merely recognitions of the institution's achievements; they are a tribute to the trust placed in the institution by its members, depositors and customers.

The Visionaries Behind the Institution

The establishment of Shree Mahalaxmi Nagari Sahakari Patpedhi was driven by the vision, dedication to the cooperative movement and passion for social service of Hon. Shri Jaywantrao Katkar Saheb. His vision of making safe and accessible financial services available to ordinary citizens laid the strong foundation of the institution.

The institution is also deeply grateful to Hon. Shri Hanmant Ghanwat (Aaba), who served the institution for a long period as Secretary and Chairman. Through his capable leadership, he gave a new direction to the growth of the institution. He placed emphasis on earning the confidence of members, expanding the institution, maintaining financial discipline and improving service quality. His tireless efforts, vision and commitment to the cooperative movement enabled the institution to achieve several milestones of development.

The institution will always remain grateful for the invaluable contributions of both these visionaries. The values of trust, integrity and dedication to service that they established continue to remain the pillars of the institution's functioning even today.

The Institution Today

Today, the institution's Head Office and all six branch offices are housed in self-owned premises. Operating from approximately 5,500 square feet of banking space across the Mumbai Metropolitan suburban region, the institution continues to serve its members with dedication.

With the trust of approximately 6,000 members and more than 50,000 customers, the institution continues its journey of progress.

Behind this achievement lie the hard work, efforts and sacrifices of numerous individuals, along with the blessings and guidance of senior members. The unity and collective efforts of all the Directors who have served the institution to date, the dedicated employees who work wholeheartedly for the institution and strive to secure the cooperation of members, and the Development Officers have collectively contributed to the institution's continued growth.

We are all committed to ensuring that Shree Mahalaxmi Nagari Sahakari Patpedhi continues to remain at the pinnacle of success and prosperity.

We extend our heartfelt gratitude to all our members, depositors, customers and well-wishers who have always placed their unwavering trust in the decisions and functioning of the Board of Directors and have been an integral part of this remarkable journey.