Member Banks
Introducing Banking Association Member
Ubank Limited
Q&A
Name of bank: Ubank Limited
Who owns the bank? Ubank is wholly owned through a holding
company, which in turn is owned by a Trust. The trustees are elected
by NUM and the Chamber of Mines. The Trust’s primary mandate
is to invest in community development projects in areas where
mineworkers live, utilising dividends paid by the Bank to the Trust.
Core business: Ubank has always been a savings-led bank and this
will continue as we focus on providing holistic banking services to our
existing and future markets. Our strong presence, mainly in mining
and rural communities in South Africa, has been key to our existence
to date. Having rejuvenated ourselves from being referred to in the
industry as a “pay-master” to being a fully licensed bank, we provide
a full suite of banking products and services to our customer-base.
As a bank that has been in the industry for over 30 years, we pride
ourselves in working closely with our customers, stakeholders and
the community to provide the best possible service. Ubank is focused
on increasing its distribution channels to ensure accessibility for its
target communities.
Target market: Ubank (previously known as Teba Bank) has a rich
history in providing basic financial services to mineworkers, their
families as well as the rural communities our customer call “home”.
Over the years, Ubank has managed to entrench itself within the gold
and platinum mining communities and is currently implementing
a mandate to provide affordable financial services to the broader
working market in South Africa.
Core values or differentiators: Ubank is a unique banking institution
that is driven by a social consciousness that underpins all we do. Our
customers are our owners and we exist to serve them through the
provision of financial services that meet their needs and improve
their lives.
Throughout the 30 plus years of Ubank’s existence, the Ubank
brand has grown and established acceptance, affinity, trust and loyalty
with its customers in the mining communities, through focusing
on an approach of customer understanding, customer education,
commitment, community participation and dedicated relationships.
Ubank’s core values drive the essence of our existence and include:
• Passion – Going the extra mile, being bright and attentive, showing
positive energy and commitment with pride and enthusiasm.
• Empowering – Through enabling, inclusive and supportive
practices, the bank strives to encourage, develop itself and others,
through teamwork and sharing responsibility.
• Excellence – Being the best, achieving with speed, growing
the business through performance, helping everyone succeed,
accuracy, thoughtful and considerate actions.
For further information contact
Ubank on 011 518 5000 or
visit www.ubank.co.za.
• Respect – Remaining open minded and considerate, listening and
hearing others out; equality, engaging fully and treating each other
with dignity.
• Sincerity – Delivering on our promises, having caring, open
conversations and always being there and being easy to talk to.
Is there a key product or initiative you wish to highlight? Ubank
provides a full suite of banking products that includes:
• Transactional Accounts (stand alone and packaged options)
• VISA Debit Cards; Loans (Personal Loans, Home Loans)
• Savings (Fixed Deposits, 32-day notice, Group Savings)
• Funeral Insurance
• Cellphone Banking
• SMS notifications
• Airtime Contracts
Additional produ