The Nasik Merchants Co-Op Bank Ltd has the history of banking approximately 57 years ago, it is very difficult to get finance from banks not only in Nasik but the other parts of the Maharashtra for a common man or a small industrialist or a small merchant for their true needs.

In those days Banks policy was to collection of deposits from the rural areas and Distribute these deposits as a loan to specific industries as loan and to collect more and more profits from it in the name of secured banking. So the actual needy people are not getting the benefits of banking from such policies.

To break this tradition, some prominent and hard working social activists came together to remove such barricades between a common and needy people and the Bank, and so "NAMCO", as it is popularly called, took birth on 11 June 1959 on a auspicious day of Nagpanchami, in house no.99,Gaidhani Wada, at auspicious hands of Principle S.G.Puranik. Other enthusiast social workers like late Visukaka Kshatriya, late Dadasaheb Potnis, Mamasaheb Shukla, Prabhakarpant Modak, Gopalrao Pathak, Annasaheb Kulkarni, M.S.Aurangabadkar, BabubhaiRathi, G.V.Ashtaputre, Narayan Vaishya and many other social workers gave an excellent contribution .It is very difficult journey from 1959 to 1975 to emerge as a bank for the common man.