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About Us

OUR HISTORY

OVERVIEW OF THE EASTERN RAILWAY EMPLOYEES’ CO-OPERATIVE BANK LTD.

  • The Eastern Railway Employees’ Co-operative Bank Ltd. originally formed as The East Indian Railway Employees’ Co-operative Credit Society, was established on 23rd November 1912. This initiative was spearheaded by four Anglo-Indian Railway Employees who aimed to cater to the financial needs of Railwaymen and protect them from money lenders. Our journey began at 17 N.S. Road, Fairlie Place, Kolkata, where our Registered Office still stands. The very first branch of our bank was located at Fairlie Place, Eastern Railway Headquarters. Eventually, our administrative office moved to 10 Strand Road, Kolkata – 700001, a building we proudly own.
  • Our expansion continued with the second branch at Jamalpur Workshop in 1972, followed by Branches in Asansol (1974), Liluah, Howrah, Danapur, and Mughalsari (DDU). On 28th November 1986, The Bank was granted a Banking license by the RBI, marking our transition to providing comprehensive Banking services to Railway Employees across the country. Under the Multi-State Co-operative Societies Act of 2002, as amended from time to time. Our bank attained the status of a Non-Scheduled Salary Earners’ Multi-State Tier-II Urban Co-operative Bank.

  • A milestone year for us was 2019, when we successfully transitioned to the CBS (Core Banking Solution) platform. Gradually, all eight of our branches commenced operations under this advanced system. In the same year, we began issuing personalized cheque books to all eligible customers and introduced NEFT & RTGS facilities.

  • Our dedicated clientele primarily consists of existing and retired railway employees and their families. Our loan services are exclusively available to our members who are current railway employees. In October 2023, we proudly launched our ATM services. Looking forward, we aim to introduce a suite of digital banking solutions, including mobile banking, internet banking, and Bharat Bill Payment services, ensuring we meet the evolving needs of our valued customers.