By Toby Chuks
It was a moment of joy for customers of Umunya Community Bank (UCB) MicroFinance Bank located at Umunya, an urban community in Anambra State at the weekend just as a renowned businessman turned philanthropist Chief Ifeanyi Anachuna (Ezeomeogo) offered to make available a N10million free interest loan for farmers, transporters, entrepreneurs, traders, market women and artisans among others who are customers of the bank within and outside Umunya.
Chief Anachuna who made the offer during the commissioning of the newly constructed office complex of the Bank inside Umunya stated that the N10million free interest loan for customers is to ensure that the bank consolidates its mandate to provide financial service to residents of Umunya and others from the neighboring communities to enable them cushion the effect of economic hardship, feed their families, pay children school fees and grow their businesses.
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He said that the beneficiaries of the loan will provide collateral to be able to access the money and pay back at the stipulated time while his foundation will pay the interest of the loan to the bank. The Ezeomego rallied the people of Umunya to emulate the likes of Ify Osegbo and Dr Chike Obidigbo in contributing to develop Umunya advocating for a structured community support base and intervention mechanism that entrench culture of solidarity where progress is shared for the benefit of the people.
Earlier in his address of welcome the Managing Director of the Bank Mr Cyril Tochukwu Iloduba stated that the new office complex is a reflection of the achievement of the Bank following years of hardworking, persistence and vision to meet the standard inline with Global best practice in banking business adding that the new complex provides the space and the platform to give customers the best of service.
Mr Iloduba explained that UCB MicroFinance Bank exist for the traders in Old Afor Market, small business owners, artisans and the entrepreneurs trying to grow something of their own in Umunya and the communities in the neighborhood adding that the Bank is providing financial services through daily contributions (isusu) individual and group loans, saving accounts, fixed deposits and current accounts as well as simple and practical products built on how people save, borrow and grow.
Delving on the historic journey of the Bank he added “On the 14the June 1993 our bank was incorporated as Umunya Community Bank with one simple purpose to bring financial service to the people of Umunya and the communities around us. We did not waste time. Less than a year later we opened our doors for business. For years we worked out of a smaller place than the one we stand in today. But our ambition was never small.
“In July 2007, our shareholders took a bold step and passed a resolution to change our name to UCB MicroFinance Bank Limited. a decision that reflects not just a change of name but also a renewed commitment to do more for our people. And the 28th March 2008, the Central Bank of Nigeria (CBN) granted us our license to operate as a MicroFinance Bank formally recognizing what we had spent fifteen years building
Going further on the history of the Bank the MD recognized the impact of the role being played by renowned industrialist and elder Statesman Dr Chike Obidigbo who according to him stood by the Bank from the earliest days to nurture the Bank to its present height. The MD made bold to remark that “none of the achievements we recorded would have been possible without Dr Chike Obidigbo’s faith in this institution and without him UCB simply wouldn’t exist”
Also speaking, the Chairman of Board of Directors Mr Chiemelie Ubani assured the customers that the Bank will continue to render quality service adding that the Bank will sooner than later graduate to internet banking which will enable customers operate their bank account with UCB MicroFinance Bank Umunya anywhere they are around the world.
In his words Dr Chike Obidigbo who is described as the pillar of the Bank thanked the management, the staff and customers for ensuring that the Bank is making progress through hardworking noting that the Bank will continue to flourish in progress with people dedicated to hardworking. “I am pleased to see that both the management, the staff and customers are doing well by dint of hardworking and I would like the culture of hardworking be maintained” he added
Some of the customers present at the ceremony thanked Ezeomeogo for opening the chance for them to obtain a free interest loan from the bank noting that the loan will help them raise a more stronger capital base for their business.
The President General of Umunya Town Union High Chief Gilbert Ekwugha and the Regent of Umunya Sir Mike Ekwulukaralu Ubaka among other prominent personalities witness per the commissioning ceremony.
