On January 1, 1876, in Yekaterinodar, initiated by the notary of the district court F.U. Palimpsestov, the Mutual Credit Society was founded. A group of ten people contributed 13,050 rubles, which became the initial capital of the organization.

Members of the society could deposit their savings and receive loans for trade and industrial needs, contributing 10% to the main capital. Within two months, the number of participants grew to 107, which facilitated an increase in capital.

Initially, the Society rented premises, but in 1906 it built its own building on Bazarnaya Street. The one-story structure in the Art Nouveau style featured rich stucco work, architectural decorations, and ornate wrought iron, making it one of the most beautiful in the city.

Later, the building was reconstructed and expanded to two stories. Architect M.I. Ryabkin, having strengthened the foundation, created an impressive composition of external decoration. The facade was adorned with sculptures and decorative panels. On the right attic stood a figure of a lion, while above the left portico stood the god of commerce Mercury with a staff in hand. Artist I.L. Kalmykov depicted scenes from ancient life above the entrances, surrounded by massive sculptures. All the figures of the gods were reinterpreted by the architect.

The facade was also decorated with anchors, garlands, wreaths, and ancient masks. Since 1925, the building housed a pawnshop, then the office of the State Bank of the USSR.

During the Great Patriotic War, the building was destroyed, but in 1949 it was restored by engineers A.A. Alaverdi and K.T. Kozmenko, returning it to its former beauty.

Today, it houses the Main Department of the Central Bank of the Russian Federation, and the building is under state protection.