The Bank Employees Co-operative Bank Ltd, a RBI Licensed Urban Co-operative Bank, registered under West Bengal State Co-operative Societies Act, (Regd. No 5 Cal of 1947) commenced its operations on December 17, 1947. Since its inception, the Bank Employees Co-operative Bank Ltd witnessed a steady progress all around under the Chairmanship of the dedicated Bank Employees of different Commercial Banks. The share holder i.e. membership strength goes upto 12000 in the year 2006-07. The Annual General Meeting are being represented by Delegates elected by members(share holders) from various banks. The Board of Directors are being elected from amongst the delegates elected by members as per the prevailing rules of the Co-operative Societies Act. Shri Debendra Mohan Lahiri, became its first Chairman & Shri Ramesh Chandra Chakraborty, the first Secretary. These dedicated men in charge of the Society had a commendable sense of service and duty imbedded in them for valued causes of Co-operative movement.
The Bank initially started with Share Capital collected from bank employees to become share holder members and has been adorning the status of a Grade One (Gr I) Urban Co-operative Bank in West Bengal. Since its inception, the Bank has been steadily progressing by leaps & bounds by providing services of the highest class to all its shareholders. The Founder Members and the later-day managements of the Bank continued to demonstrate their unwavering faith in the destiny of the co-operative movement and they encouraged the shareholders to save some moneys for future need despite all odds.
The Society was initially set up to provide temporary financial accommodation to its share holder members in eventualities such as wedding of the dependent members of the family, repayment of debt expenses in medical treatment etc at the time the Bank Employees were being paid paltry wages with no regulated service conditions at all. It was a rule of hire & fire. To make both ends meet and to fulfil social or medical expenses, the bank employees had to fall prey to private money lenders. The dire need to stand by the employees in their financial distress, the employees of the banks decided to form a Co-operative Bank to help each other. The Society was converted into a full fledged Urban Co-operative Bank in the year 1966. The Reserve Bank has issued banking license vide License No UBD.WB.1446P dated 24 July 1997 to operate among the general public. And the Bank stalled to extend dedicated service to its customers for all types of Banking Services.
The Bank is a Unit Bank. It accepts deposits from both members & non members. Keeping in view the need for technological upgradation in Banking Industry, the IT department of the bank continues to pay special attention to upgrade technological needs. With a view to improving customer satisfaction, implementation of Core Banking Solutions (CBS) in the bank is being carried out by Institute for Development and Research in Banking Technology ( IDRBT) Hyderabad, a subsidiary of Reserve Bank of India.