KCBL is a regional bank with dual registration as a cooperative society and a bank. It was founded in 1994 to meet the financial needs of cooperative societies in the Kilimanjaro region that were not being met by existing commercial banks. KCBL was granted a banking license in 1995 and began operations in 1996.

KCBL membership is open to all registered cooperative societies in Tanzania, as well as individuals, groups, companies, and government and non-government organizations. Banking services are open to the general public.