Union Bank of Nigeria Plc said it has delivered on its promise to support charitable organisations with a portion of proceeds from the UnionBetta savings product.
Launched in 2016, UnionBetta is a sub-account which allows Union Bank customers earn attractive interest rates for saving as little as N5,000 monthly.
In return, the bank donates a percentage of the interest earned to select non-governmental organisations (NGOs) on behalf of its customers.
In selecting the recipients, priority is given to NGOs making impact in areas such as gender equality, education, talent development, and agriculture which are key pillars of Union Bank’s citizenship efforts that align with Sustainable Development Goals (SDGs) one, two, four, five and 11.
According to a statement from the bank, this year, N1.7 million was donated to 10 different charitable organisations to help support their activities. Some of the recipients included United Methodist Church of Nigeria Orphanage, Jalingo; Zinnok Initiative for Women & Children, Abia; Teens Dream Initiative, Kwara and Lagos Food Bank Initiative. Others include Uduak Charles Diaries, Akwa-Ibom; Flexisaf Foundation, Abuja and Adolescent Friendly Research Initiative & Care, Ekiti.
Speaking on this initiative, Union Bank’s Head of Retail Deposits, John Obichie, reiterated the Bank’s focus on creating value for its customers and giving back to the underprivileged in the society.
According to him, “UnionBetta highlights our focus on supporting the average Nigerian. We are excited about this unique product, which presents an opportunity for our customers to save, enjoy competitive interest rates on their savings and support a worthy cause – a win-win situation for all parties concerned.
We thank our customers for believing in this vision and supporting our efforts to create lasting impact.”
While thanking Union Bank for its donation, Michael Sunbola, President of the Lagos Food Bank Initiative, said: “We thank Union Bank for its support and donation. This generous gesture provides the encouragement and moral support needed to continue our mission to reach vulnerable children and women and provide them a means of survival.”