It was on a rainy day of May, heavy rains of Coastal Mangalore did not deter the spirits of philanthropist pioneers from their goal of setting this luminous institute to help their less privileged brethrens. Hundred glorious years the light moves on showing path to multitudes.
Robert Owen is considered as the Father of Cooperative Movement. He thought it fit to start the cooperative societies to fight the dangers and damages of Industrial Revolution.
India homeland of the concept of Universal Brotherhood received the concept of Modern Cooperative Movement in the early Twentieth Century and in the year 1904 Government of India Cooperative Societies Act was passed.
In 1912 Indian Cooperative Societies Act was amended and the Registrars of the Cooperative Societies were asked to spread the principles of cooperative financing. This brought Dewan Bahadhur Swamikunnu Pillai, the Third Registrar of the Cooperative Societies of the Province of Madras to Mangalore. He addressed the Mangalorean Catholic Gentlemen at then Catholic Union Club (presently Catholic Centre, Hampankatta.)
Pushed forward by the motivation and guidance of Dewan Bahadhur Swamikunnu Pillai, 67 generous leaders of the Mangalorean Catholics Joined together and under the leadership of Shri F L Silva, shri G M Castelino, Shri G A Saldanha, and Shri P Dsouza started working for the society. On 8-5-1912 The Mangalorean Catholic Cooperative Society was established. On 9-5-1912 the First General Assembly of the New Society called. The members elected Hon'ble P F X Saldanha as its first President, Simon Alvares as Vice President and Shri J M Castelino as Secretary and Treasurer.
The visionary, philanthropic founders were motivated by the need of the catholic Community of their times. Agriculture was the major occupation then. The bank went on growing with the growth of its customers. The Mangalore Catholic Cooperative Bank played a major role in the economic prosperity of the Canara catholic community. For Nine decades the bank withstood all its challenges based on the strength it gained by serving the society.
