Union Bank of Nigeria has nurtured and retained generational customers, a few of whom have maintained a banking relationship with the foremost Nigerian monetary establishment for 2 or extra generations
A survey has revealed tons of of households and companies which have maintained relationships with the financial institution for 60 to 80 years, for the reason that days when the financial institution was nonetheless generally known as Barclays Bank.
Some of these customers who have been surveyed claimed the connection with Union Bank had turn out to be so sturdy as to take the type of inherited household traditions.
One of these surveyed was Alhaji Ali Madugu, Managing Director of Dala Foods Limited, who stated the connection with Union Bank was established by his grandfather within the Fifties, when the financial institution was nonetheless generally known as Barclays Bank.
“My grandfather was involved in the trans Saharan trade during those days and at a point, he was encouraged to open an account with Barclays Bank. In the early 1970s, my father also opened his own account with the bank and then it became a family tradition that once any one of us attains the age of five, an account is opened for the person in Union Bank, into which money would be paid until the person attains the age of 18 and takes control of the account,” Madugu stated.
Another individual within the survey, Mrs. Lai Koiki, proprietor of Greenspring Schools, stated her relationship with Union Bank commenced as just lately as 2018, and has flourished ever since.
“Union Bank performed a really important function in our enterprise at a crucial level once we wanted to entry funding from the capital market. At the time, it was fairly unusual for such services to be made accessible to varsities, however Union Bank stepped ahead as our guarantor and supplied the assist we wanted.
“Their guarantee was pivotal in enabling us to access the funds required at that time. Beyond the financial support itself, it demonstrated the confidence the bank had in our organisation and strengthened our relationship with them. It remains one of the key moments that shaped our relationship with Union Bank,” Koiki stated.
On how the financial institution has been supporting companies, Alhaji Ali Madugu revealed that Union financial institution has been pivotal to a number of the important progress and enlargement that has been skilled in his enterprise.
“The bank has been of immense support to us in our businesses. They provide us with support for our initiatives and have never failed us even in one day. Like in the instant pap we are currently producing, we did our research and discovered the viability of this cereal product. We were doing it manually initially and we discovered that we could not meet market demands. We started looking for the machine to optimize production; we looked for machines in Nigeria, and when we could not find, I went to India and once I saw what I was looking for, I spoke with the bank and the process of acquisition of the machine started. Today, that machine produces mor than 8 times what we produced when we were working manually. That is the benefit we have from banking with Union Bank. They respond to our needs promptly, and that comes from the years we have been relating with them,” stated Alhaji Madugu, whose enterprise operates from Kaduna State.
On the influence on the expansion of her college, Mrs. Lai Koiki stated the financial institution has been pivotal.
“Union Bank has played an important role in supporting us at both strategic and operational levels. The relationship has been valuable because we have had people we can engage when we need assistance. Union Bank as a banking partner understands our business and responds to our needs and this gives us greater confidence in managing our financial activities,” she said.
On why her college continues to financial institution with such a long-established establishment, Koiki stated: “For us, it’s much less about whether or not a financial institution is previous or new and extra about worth, reliability and glorious turnaround time
“Union Bank has a long history in the Nigerian banking sector, and that comes with experience and institutional knowledge. At the same time, what is important to us is that the bank continues to evolve and provide services that meet the changing needs of its customers,” she stated.
