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Vision Statement
Mission Statement
Core Values
Vision Statement
To be a strong and dependable Microfinance Bank that shall stand the test of time through the provision of the best financial services and grow to become a major player in Nigeria financial system.
Mission Statement
To provide microfinance banking services that will make us attain the peak of excellence in the microfinance sub-sector through a blend of information technology and professional competence with a view to fostering an enduring partnership with customers thereby maximizing shareholders wealth.
Core Values
Integrity, Transparency, Commitment.
History
U and C Microfinance Bank Limited started off in 1994 originally as Choba Community Bank (Nig.) Limited by a collection of private investors from Choba extraction with the primary objective of bringing grass root banking to Choba and its adjoining communities. It was incorporated on 11th April, 1996 (RC No. 289238) with National Board for Community Banks (NBCB) provisional license No. 0787..
In 1999, the promoters strategically wooed University Port Harcourt shareholding to curb its perennial liquidity crisis. The capital composition eventually dovetailed into equity control by University of Port Harcourt.
The brand name was thus, modified to Choba-Uniport Community Bank (Nig.) Limited (CUCB) in 2001 to reflect the subsisting ownership structure.
Following the launch of the Microfinance Banking Policy in 2005, the Bank mandatorily converted to a Unit Microfinance Bank in 2008. Consequently, the brand name was changed to U&C Microfinance Bank Limited and up-scaled to State MFB in 2013.
The 2018 Microfinance Banks’ Recapitalisation Initiative of the CBN raised regulatory capital threshold of State MFBs from N200 million to N1 billion. The recapitalisalisation policy underscored the compelling option to file for downscaling from State MFB to Tier 1 Unit MFB in alignment with the new capital requirements.
In 2022, the Bank obtained regulators approval to relocate its Corporate Head Office from Choba park shopping complex, University of Port Harcourt to No. 10 Dan Etete drive, Unipark (Abuja campus), University of Port Harcourt.
The Bank also secured approval for modification of its brand name from U&C Microfinance Bank to U and C Microfinance Bank to suit information technology (IT) exigencies.
In 1999, the promoters strategically wooed University Port Harcourt shareholding to curb its perennial liquidity crisis. The capital composition eventually dovetailed into equity control by University of Port Harcourt.
The brand name was thus, modified to Choba-Uniport Community Bank (Nig.) Limited (CUCB) in 2001 to reflect the subsisting ownership structure.
Following the launch of the Microfinance Banking Policy in 2005, the Bank mandatorily converted to a Unit Microfinance Bank in 2008. Consequently, the brand name was changed to U&C Microfinance Bank Limited and up-scaled to State MFB in 2013.
The 2018 Microfinance Banks’ Recapitalisation Initiative of the CBN raised regulatory capital threshold of State MFBs from N200 million to N1 billion. The recapitalisalisation policy underscored the compelling option to file for downscaling from State MFB to Tier 1 Unit MFB in alignment with the new capital requirements.
In 2022, the Bank obtained regulators approval to relocate its Corporate Head Office from Choba park shopping complex, University of Port Harcourt to No. 10 Dan Etete drive, Unipark (Abuja campus), University of Port Harcourt.
The Bank also secured approval for modification of its brand name from U&C Microfinance Bank to U and C Microfinance Bank to suit information technology (IT) exigencies.