Launched in 2016, UnionBetta is a sub-account which allows Union Bank customers earn attractive interest rates for saving as little as ?5000 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) 1, 2, 4, 5 and 11.
This year, a total of One million, Seven Hundred Thousand Naira (?1.7m) was donated to 10 different charitable organisations to help support their activities. Some of the recipients include 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, also 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.”
The 2020 edition has recorded the highest number of beneficiaries since the launch of UnionBetta in 2016, highlighting the increased willingness of the Bank’s customers to support these worthy causes.