A Survey has revealed how Union Bank of Nigeria has nurtured and retained generational customers, some of whom have maintained banking relationship with the foremost Nigerian financial institution for two or more generations

The survey, commissioned by the bank, revealed hundreds of families and businesses that have maintained relationships with it for 60 to 80 years, since the days when it was still known as Barclays Bank.

Some of the customers who were surveyed claimed the relationship with Union Bank had become so strong as to take the form of inherited family traditions.

One of those surveyed was the Managing Director of Dala Foods Limited,Alhaji Ali Madugu, who said the relationship with the bank was established by his grandfather in the 1950s, when the bank was still known as Barclays Bank.

“My grandfather was involved in the trans Saharan trade during those days and at a point, he was encouraged to open an account with Barclays Bank. In the early 1970s, my father also opened his own account with the bank.

And then it became a family tradition that once any one of us attains the age of five, an account is opened for the person in Union Bank, into which money would be paid until the person attains the age of 18 and takes control of the account,” Madugu said.

Another person in the survey, Mrs. Lai Koiki, proprietor of Greenspring Schools, said her relationship with Union Bank commenced as recently as 2018, and has flourished ever since.

“Union Bank played a very significant role in our business at a critical point when we needed to access funding from the capital market. At the time, it was quite uncommon for such facilities to be made available to schools, but Union Bank stepped forward as our guarantor and provided the support we needed.

“Their guarantee was pivotal in enabling us to access the funds required at that time. Beyond the financial support itself, it demonstrated the confidence the bank had in our organisation and strengthened our relationship with them. It remains one of the key moments that shaped our relationship with Union Bank,” Koiki said.

On how the bank has been supporting businesses,Madugu revealed: “The bank has been of immense support to our businesses. Like the instant pap we are currently producing, we were producing it manually initially and we discovered that we could not meet market demands.

“We started looking for the machine to optimise production; we looked for machines in Nigeria, and when we could not find, I went to India and once I saw what I was looking for, I spoke with the bank and the process of acquisition of the machine started.

“Today, that machine produces more than eight times what we produced when we were working manually. That is the benefit we have from banking with Union Bank,” said Madugu, whose business operates from Kaduna State.

On the impact on the growth of her school, Koiki said the bank has been pivotal. “Union Bank has played an important role in supporting us both at strategic and operational level,” she stated.

On why his company is banking with such an old financial institution, Koiki said: “For us, it is less about whether a bank is old or new and more about value, reliability and excellent turnaround time.”