Rg. No. YML/BNK 144
Rg. No. YML/BNK 144
To be the most trusted and preferred financial institution in Yavatmal, providing comprehensive banking solutions and contributing to the socio-economic development of our customers and the community.
Customer-centricity: We are committed to understanding and fulfilling the financial needs of our customers, providing them with innovative and personalized banking services to enhance their financial well-being.
Financial Inclusion: We aim to promote financial inclusion by reaching out to the unbanked and underprivileged sections of society, offering them access to reliable banking services and empowering them to achieve their financial goals.
Growth and Excellence: We strive for sustainable growth and continuous improvement, harnessing technology and adopting best practices to deliver efficient, secure, and transparent banking solutions.
Stakeholder Value: We are dedicated to creating long-term value for our stakeholders, including customers, employees, shareholders, and the community, by ensuring financial stability, profitability, and ethical business practices.
Integrity: We uphold the highest standards of ethics, honesty, and transparency in all our dealings, maintaining the trust and confidence of our customers, regulators, and stakeholders.
Customer Focus: We put our customers at the center of everything we do, understanding their needs, providing superior service, and building lasting relationships based on trust and respect.
Teamwork: We foster a collaborative and inclusive work environment, encouraging teamwork, open communication, and mutual support, to achieve our common goals and drive organizational success.
Innovation: We embrace innovation and adaptability, continuously exploring new technologies, products, and processes to deliver cutting-edge banking solutions and stay ahead in a rapidly evolving industry.
Social Responsibility: We are committed to making a positive impact on society and the environment, promoting sustainable practices, supporting community development initiatives, and giving back to the communities we serve.
Yavatmal is one of the district in Maharashtra with little industry but rich in natural resources and known as a high quality cotton growing district. In the year 1965, in order to fulfill the financial needs of the common people in Yavatmal city and to make them habit of saving, they can do their business without any hesitation within the framework of the law. Our bank was established on the initiative of late Babaji Date. The initial name of the bank was Sankatmochan Urban Co-op. Bank Ltd., Yavatmal and registration is CryML / BNK / 114.
Registration of permission to start operations of the bank) dt. On 12th April 1965 Hon. District Sub-Registrar Co-operative Societies, Yavatmal gave and started the actual working of the bank. On 07 May 1965 the office at Avadhutwadi Yavatmal was inaugurated by Shri. Babasaheb Gharfalkar Chairman Yavatmal District Central Cooperative Bank Ltd. It was done by him.
The initial membership of the bank was 129 and the share capital was Rs. 30100/- was so much. In the first year At the end of the year ending June 30, 1966, the bank’s deposits stood at Rs.85068/- Loans at Rs. 111584/- and the profit was Rs.1140.33/-.
As the first manager of the bank. Mr. K U. pande was working
1) Shri. Sri Krishna D. Date
2) Shri. Vishwanath D. Pendsey
3) Shri. Gopal R. Telang
4) Shri. Rajabhau Sh. Deshpande
5) Shri. Kashinath Jasengewar
6) Shri. Pandurang Mt. Joglekar
7) Shri. Narayan C. Gade
8) Shri. Bhaskar Vs. Kunte
9) Shri. Vasant L. Fadnis
Chairman
Vice President
Director
Director
Director
Director
Director
Director
Director
In the early days, under the guidance of the above directors, the bank came to be known as a common man’s bank in Yavatmal
In the annual general meeting held in the year 1969-70, the members decided to change the name of the bank and after the permission of the cooperative department, the bank was renamed as Sankatmochan Urban Co-op since 05/08/1971. Bank Ltd., Yavatmal instead of Yavatmal Urban Co-op. Bank Ltd. Became known as
Till the year 1972 only one branch of the bank was functioning in Yavatmal town. The bank had given a helping hand to many budding entrepreneurs in the form of loans and given savings direction to common people. The first branch of the bank was expanded in the year 1972. On 09 April 1972, the second branch of the bank was opened at Patnabori, a tribal area bordering Andhra Pradesh. This branch has also done and is doing excellent work in places where facilities are not available like Patanbori. Many youths have been helped to stand on their own feet by lending a helping hand to the industry as well as to ancillary businesses as agriculture is the main occupation.
The Bank offers you to become the shareholder by purchasing minimum 60 shares @ 25/- each. Hence, you can become a shareholder by depositing Rs.1500/-(+) entrance fee of Rs5/-. The Shareholders get dividend every year on the amount of shares.
The bank was paid dividend @ 9% on the share capital for F.Y. 2014-15. The bank tries to pay dividend at best possible way. The rate of dividend is decided every year in the Annual General Meeting for the bank.
The Shareholders can also vote in the Annual General Meeting and in the election of the Board of Directors as per Act & Byelaws.
Yavatmal Urban Co-op. Bank always try to offer innovative customer service and schemes. In order to do so we have started Core Banking facility. Latest technology used to provide quality service to the customer’s satisfaction
Every year Yavatmal Urban Co-op. Bank in association with Keshav Smurti Vachanalay organizes Dr. C. D. Date lecture series.
Yavatmal Urban Co-op. Bank provides aid to the social work of institutions Vanvasi Kalyan Ashram, Dr. Hegdewar Sewa Samiti, Savitribai Seva Samiti, A.B. Vidyarthi Parishad, Shiv Jayanti Utsav, Shri Ram Janmotsav Shobha yatra, Swadesh Jagaran Manch.
Yavatmal Urban Co-op. Bank provides medical aid to their shareholders and employee for critical illness like Cancer, Heart attack, Kidney failure, etc. In case of sad demise of any employee, all employees voluntarily give their one day salary to their colleague as a token of solidarity for the deceased family.
In the pandemic Covid-19 crisis time activites under taken by Yavatmal Urban Cooperative Bank.
