Established in 1964 by a dedicated group of social workers and labor movement activists, Abhyudaya Co-op. Credit Society Ltd. had humble beginnings with a small share capital of Rs. 5,000. The founders were driven by a spirit of service towards mill workers, other industrial workers, and economically weaker sections of society who were previously neglected. The bank initially served the areas of Kalachowki, Sewri, Parel, and their surroundings, which were predominantly inhabited by low-income industrial laborers and lower-middle-class individuals.
The bank's education loan offering is aligned with its ethos of empowering individuals through financial assistance. By providing education loans, Abhyudaya Bank aims to support students from diverse backgrounds in pursuing their academic aspirations and securing a brighter future. Through its education loan scheme, the bank strives to promote access to quality education and contribute to the socio-economic development of the communities it serves.