The North Lanarkshire Municipal Bank Ltd dates back to 1924. Founded by the former Burgh of Motherwell and Wishaw, in 1975 it became Motherwell and Wishaw Burgh Municipal Bank changing after local government re-organisation in 1996 to become North Lanarkshire Municipal Bank Ltd, as it is known today.

The bank was set up purely as a savings bank, to allow local people access to their money and to enable the local authority to fund at least part of its operations without recourse to the more expensive traditional sources of finance such as the London Money Market. Although the bank is an entirely independent limited company governed by the Banking and Companies Act, it still remains closely linked to its founding partners North Lanarkshire Council in its current form.