Ubank has a long and rich history of providing basic financial services to mineworkers and their families for more than 40 years. In 1975, when other financial institutions largely ignored this sector of the market, Teba Cash Financial Services was formed to provide mineworkers with basic financial services. These included facilitating the remittance of funds to families and dependents in the rural and labour sending areas using a linked account facility. In the early 1990s, as South Africa was undergoing fundamental political change as a country, the Godsell Motlatsi Commission was formed. This led to the transition from a savings fund into a commercial bank. In June 2000, Ubank (then Teba Bank) was granted a banking license, although its ownership remained in a trust managed by trustees elected by the National Union of Mineworkers and the South African Chamber of Mines. The beneficiaries of the trust are the bank’s customers. In 2007, Ubank welcomed a new vision, mission, set of values, and strategy. Essentially, this saw Ubank set itself up to become the Worker’s Bank of Choice.
In October 2010, the name of the bank was changed to Ubank and launched to the public. Since the birth of the new brand and strategy, various initiatives to improve and expand the business have been undertaken.
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Empowering our Communities
Partnering with communities every step of the way.
Educating and empowering customers to achieve financial success.
Nurturing relationships that are built on listening, action and communication.
Working on principles of Ubuntu.
Committed To Clients