While Primary Agricultural Credit Cooperative Societies (PACS) have key roles in India’s rural economies, they suffer from financial sustainability due to poor recovery of loans, increasing non-performing assets (NPAs), and liquidity issues. Their performances are affected by geographical and operational factors. The income and resilience can be improved by diversified income-generating activities outside agriculture, such as dairy, input supply, and distribution of consumer goods. The paper focused on the assessment of the financial performance of PACS to identify ways to improve sustainability and to create a model to strengthen its viability. The assessment has analyzed the financial performance of the six PACS (Primary Agricultural Credit Societies). The financial modeling through CAMEL and Altman’s Z-Score was applied to data from six PACS in Maharashtra. The findings show that the Koregaon VKSS PACS has a CAMEL rating of 2.0 and a Z-score of 1.63, presenting viability because of its capital adequacy (19.97%) and profitability (4.20% ROA). Mahalaxmi Solapur VKSS is in severe financial distress, notwithstanding zero NPAs at a CAMEL score of 3.0; Kurkundi (CAMEL 3.0, Z-score 1.6812) and Bighwan (CAMEL 3.4, Z-score 1.0671) face profound liquidity challenges, with high NPAs of 15.04%. Mohitewadi VKSS (CAMEL 2.6, Z-score 1.5546) claimed reasonable earnings (1.38% ROA), but liquidity was equal to 0.05%. Harshvardhan Solapur displayed good quality loans (0% NPAs) but poor capital levels (6.43%) and operational losses. The findings pinpoint the need for governance reform, infusion of technology, and functional diversification for sustenance in the long run.