As a result of Prudential Accounting Norms (PAN) the urban co-operative banks came under the financial tsunami, and became non-viable. But the Cosmos Cooperative Bank Ltd. established in the year 1906, has been emerged as a role model for urban co-operative banks in our country. The relationship identities of profit model has revealed that its profit performance quantitified with spread and burden has increased from Rs. 39.79 crore in 2004-05 to Rs. 90.48 crore in 2008-09. Thus the Cosmos Co-operative Bank Ltd. has emerged as a role model for other urban co-operative banks. The increasing profit performance of the bank is due to dynamic and effective leadership, professional approach of management, timely applications of information technology, new products profile and right type co-operative work culture among its operative personnel. The Malegaon Committee is exploring the possibility of using UCBs for financial inclusion of unbanked and underbanked areas in our country.