The Eastern Railway Employees' Co-operative Bank Ltd. was established on 23.11.1912. Recently it is governed by the Multi-State Co-operative Societies Act, 2002. The bank also holds a Banking licence issued by the Reserve Bank of India and is also governed by the Banking Regulations Act, 1949 (As applicable to Co-operative Societies).
 
With a mission to uplift the members of the society from the rural class to live a life of dignity, we took many efforts to provide them loans and ensure that they have a proper means of financial and material support. ERECB never hesitates from exploring and embracing the latest technologies and standards of banking operations. Owing to this bold approach, we have been gaining successful memberships and partnerships since our establishment has come into actuality.
ERECB provides loan to the customers at very low rates of interest against Security.