FORM 10-Q
               SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549
                                 
            QUARTERLY REPORT UNDER SECTION 13 or 15(d)
              OF THE SECURITIES EXCHANGE ACT OF 1934

   For the quarter ended June 30, 1998 Commission file number 
   2-99779
                         

               National Consumer Cooperative Bank           
      (Exact name of registrant as specified in its charter)

    United States of America                   52-1157795       
 (12 U.S.C. Section 3001 et seq.)           (I.R.S. Employer    
 (State or other jurisdiction of             Identification No.)
  incorporation or organization)                                

     1401 Eye Street, NW, Suite 700, Washington, D.C.  20005
              (Address of principal executive offices)

 Registrant's telephone number, including area code (202)336-7700

     Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for
the past 90 days.
Yes   x    No________.

     Indicate the number of shares outstanding of each of the
issuer's classes of common stock, as of the latest practicable
date.
                                     Outstanding at June 30, 1998

     Class C                                      219,022
(Common stock, $100.00 par value)                              

     Class B                                      839,353
(Common stock, $100.00 par value)                     

     Class D                                           3
(Common stock, $100.00 par value)                          


Part II Other Information


Item 2. Changes in Securities

 (c)  During the period covered by this report, NCB sold one
share of its Class C stock without registration under the
Securities Act of 1933 (the "1933 Act") in reliance on the
exemption from registration provided by section 4 (2) of the 1933
Act. The stock was sold for $100 a share in cash without any
underwriting discounts or commissions to cooperative
organizations eligible to obtain loans from NCB. The stock was
not offered to the general public; the purchasers had access to
essentially the same information that would be contained in a
registration statement and had the capability to evaluate the
merits of such an investment.

Item 6. Exhibits 

 The following exhibits are filed as part of this report:

      Exhibit 10.15 - First Amendment to Third Amended and 
      Restated Loan Agreement with Fleet Bank as Agent
 
      Exhibit 27 - Financial Data Schedule

 
                          
                      SIGNATURE
                                
                                
 Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.


             NATIONAL CONSUMER COOPERATIVE BANK    

Date: 8/13/98

                                  By: /s/Richard L. Reed        
                                     Richard L. Reed, 
                                     Managing Director,
                                     Chief Financial Officer



                                  By: /s/ Marietta J. Orcino    
                                     Marietta J. Orcino
                                     Vice President, 
                                     Tax & Regulatory Compliance