The desire of the founding members was to extend financial assistance to the poor backward Billava community & other backward classes since during those days, there was no support for the community in terms of financial assistance. Keeping in mind the betterment of Billavas and enhance their economic status by providing credit facilities the Society was brought into existence.

In the year 1967-68 the name of the Society was changed to Mangalore Sri Gokarnanath Co-operative Society Limited. Further it extended its limits from Mangalore Municipality to Gram Panchayaths also. During these days the Society secured License from Reserve Bank of India to conduct Banking Business.

On 08.02.1971 the Society was upgraded to Urban Co-operative Bank by changing its name to Sri Gokarnanath Co-operative Bank Limited. The Bank opened its first branch at Hampankatta on 02.02.1975 from then onwards the Bank has opened in most of the Taluk Head Quarters of D.K. & Udupi Districts, presently having 13 branches.. The Bank played a major role in the economic prosperity of Billava Community and other backward classes for several decades the bank withstood all challenges based on the strength it gained by serving the society. The Bank’s Head office is situated close to Sri. Gokarnanath Kshethra, Sri Gokarnanath Temple road at Kudroli, Mangalore.