Community Development Initiative
One of the pillars driving the ubank business strategy is community development. Investing in the communities in which we operate, forms a critical part of how we do business hence the Bank’s commitment to allocate 4% of the pre-tax profits to community development annually.
Driven by the social objective of improving the quality of our communities’ lives, ubank’s CSI focus is on empowering our communities through community investment in sustainable educational programmes. As a wholly owned trust, ubank has a unique ownership structure that is jointly managed by the National Union of Mineworkers (NUM) and the Chamber of Mines.
The nature of the business ensures that community development and participation remains at the core of how ubank conducts its business. This is to ensure that continuous and sustainable community investment initiatives are made that benefit our customers and the communities where we operate….Read more
Infrastructural development remains a challenge in most rural schools in South Africa and other African economies. Investing in the foundation of our future leaders is a step that ubank firmly believes will help drive leadership excellence for future generations. Through strategic partnerships with the Department of Education’s various district offices, schools located in rural areas have benefited immensely from the support provided by ubank….Read more
ubank’s Employee Volunteer Programme
ubank strives to instil a culture of social responsibility and social change amongst its employees to help improve the lives of our communities. Employees invest their time, skills or money into a community project of their choice. Upon raising 10% of the required funds for the community project, Ubank pays the balance for approved proposals. The programme encourages employees to proactively seek out community projects in their respective regions that they will support. Over the years, this initiative has proved to be both successful and fulfilling for employees and the beneficiaries….Read more
ubank has designed a financial literacy programme that is aimed at assisting customers to make informed decisions about their money. Through the use of seminars and workshops that cover various financial literacy and many finance related issues, invaluable insight is provided to customers.
Some of the financial literacy topics discussed include: budgeting skills, the dangers of loaning money from loan sharks, how to read payslips, usage of ATM and debits cards, what interest means and how it is calculated….Read more
The ubank Bursary Programme was introduced in 2009 and aimed at supporting the children of mine workers in gaining relevant skills and knowledge, for them to seamlessly be integrated into our country’s economy. The Bursary Programme allows the Bank to take its commitment of community development through education to the next level – funding tertiary studies. The bursary programme is open to children of unionised members of South Africa / Southern Africa….Read more
TCTS SA™ is a national savings campaign rolled out in South Africa in July 2008 (Savings Month) as a pilot. The founding partners for TCTS SA™ are The Banking Association of South Africa, The South African Savings Institute, ABAEF, Citi Bank and Operation Hope. TCTS SA™ has since been adopted as an annual programme of The Banking Association of South Africa and SASI….Read more