Press Release

Ubank - Growing with you

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As we enter the heritage month, I found myself reflecting on some of the silent cultural teachings one gains and appreciates from different walks of life. Whether nationally or internationally, as a business executive, a witty dad or a husband dabbling as a tourist; we all learn, even if it is subconscious learning.

I am of a mind that these learnings underline the fact that as much as we are different from one another, our similarities are far greater in many instances. We care about our safety, wellbeing of our loved ones, living a meaningful life and providing for our children and families as a whole, regardless of the family make-up.

This is no different for many of our customers who are mainly mineworkers, who form majority of our target market. Their purpose in life has surpassed just putting food on the table or living on “survival” mode. They want what is most possible for their families, a better life for their children and high-class education prospects in order to shift their descendant’s life cycle up a few notches and to see a convincing level of progression in their lives.

Many organisations, especially banks, ignored these groups for the longest time, amplifying South Africa’s insufficient socio-economic development opportunities that perpetuate and still propagate social inequalities and restrictive participation in South Africa’s economy.

Having said that, I am proud to say that, for more than 40 years, Ubank is still committed to this group of individuals. We play a huge role in their lives to ensure that we grow with them. We continue to nurture and encourage mineworkers, workers in adjacent industries and surrounding communities, giving them the opportunities to be active participants in the financial sector, educate and empower them with information in their own languages, where they can use and understand financial concepts and banking with ease.

Furthermore, Ubank has entrenched itself in these communities, offering services that are “outward-in” designed, meaning we essentially offer products that are needed by our customers.

For instance, our stokvel accounts and saving plans have been informed by our customers’ needs and understanding that there is great value in saving as collective communities, friends and relatives, reaping collective benefits that they wouldn’t if they saved only as individuals;  we encourage them to have debit cards and use them instead of cash.

Financial knowledge has no age limit, thus we strive to make this knowledge available to everyone to ensure that financial knowledge and planning becomes everyone’s future heritage.

More about Ubank

Ubank is a well-established financial services provider entrenched primarily within the gold and platinum mining communities. Its mandate to service the broader working market in South Africa has become imperative in order to extend affordable financial services and to provide the workers with a bank they trust. 

For more information about Ubank, visit our website or contact Anne Williams

Public Relations, Communications and Events Manager at 011 518 5000, email address or follow us on Facebook and Twitter @Ubank SA.

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