THE KARAD URBAN COOPERATIVE BANK LIMITED, was first established as a cooperative. Urban Credit Society in the year 1917 and later it was converted into a bank.
Karad Urban Co-op. Bank Ltd., Karad is now a leading name in the urban banking sector. The promoters of this bank who were from different walks of life were working in different fields, but understanding the need of the future, they established this bank 90 years back. Late Dr. D.S.Erram who had vision and with the dedicated support of Shri. Subhashrao Joshi and other board members were able to achieve all round progress. Till 1993 the bank had only 8 branches spread only in Satara district. It has expanded its wings to other major districts of Maharashtra. Sangli, Kolhapur, Solapur, Ratnagiri, Pune and Mumbai. The Bank has made tremendous progress in all these districts and keeping in view the need and demand, has amended its bye-laws to cover other districts of Maharashtra. Raigad, Ahmednagar and Gujarat and Karnataka are planning to go multi-state by opening branches at Ahmedabad and Belgaum respectively in the state.
Due to the dynamic leadership of Late Dr. Erram and Mr. Subhashrao Joshi, the Bank has made tremendous progress in the last 10 years and was awarded “Scheduled Status” as a mark of its financial health during the year 1999-2000.
Keeping in view the technology development in the banking sector, the Bank had computerized all the branches providing quick and enjoyable service to its valued customers. Computerization was started in 1989, in phases we computerized all the branches. We provide small collection and receipt print devices to our Pygmy agents, so that agents can collect small deposits from the doorstep of the customer/borrower. Our vision is for centralized data storage for banking at any point in time through Core Banking Solutions.
Apart from making all round progress in its activities, the Bank has not forgotten its social responsibility. The bank has set up a public trust. Karad Urban Social Gratitude Trust”. Through this trust, timely financial assistance is provided to the members suffering from chronic diseases and persons suffering from serious ailments due to heart attack, kidney failure, neurological disorders and accidents etc. Financial assistance is also given to the members. For their higher studies in foreign countries. The members who have achieved prominent achievements in particular fields are also provided with the financial assistance required by them. It is planned to set up diagnostic centers and CT scans, cardiological support, pathology labs and allied services at affordable rates to the members in the near future.