Shree Mahalaxmi Urban Co-Op Credit Bank Ltd was founded in the year 1973. It was Set up with the primary objective of assisting the less fortunate members of the community in its Economic Enterprises to encourage saving and to create funds for providing financial aid to deserving members.
The Society was initially set up to help families in distress. Its objective was to help the needy downtrodden, farmers, labourers and for the repayment of debt and expenses of medical treatment etc.

The Society was converted into a full-fledged Urban Co-operative Bank in the year 1986. Shri Balasaheb J Mangalekar founder chairman is the guiding force and guru, because of his untiring efforts deep and abiding ideals, faith vision optimism and entrepreneurial Skill. He had a commendable sense of service duty imbibed in him. Even today our chairman inspiries a sense of awe and respect in the bank and amongst the share holders.

In the last two decades the bank has witnessed a steady growth in the business and also taken several initiatives such as Core Banking, opening several Branches, Missd call Services, SMS Alerts, DBT E-mail statements and “Aadhar” related activities E-Lobby, 24X7 services such as ATM, Passbook Printing, Cheque Deposit Machine and Cash Acceptor Machines are Installed, very shortly E-Com, POS and IMPS facility is going to be offered.

Mahalaxmi Urban Co-Op Bank is the prestige of Bahujan Samaj of Gokak city and surronding villages, in the success of Mahalaxmi Urban Co-Op Bank the contribution of Bahujan Samaj is unforgetteble but the contribution of other sections of society has also been notable without which the bank would not have reached such height.

In the year 2005 under the Chairmanship of Shri Balasaheb. J. Mangalekar construction work of new building was started and  within 2 years the work was completed. Mahalaxmi Urban Co-Op Bank is having 4 branches and will be shortly opening 5th  branch at Chikkodi.