Forms & Information
The Union Bank of India Employees' Co-op.Credit Society Ltd., Mumbai was established in the year 1967 by Late
Shri Ravikant S. Wadke.
who was then a leading Trade Union Leader in our Union Bank of India in Mumbai. He desired that the financial needs of many of our Union Bank Employees' which could not be met by loan facilities of the Bank can be addressed from the collective savings of others. Shri R.S. Wadke, then shared his thoughts with others and Shri V.B. Naik, a leader of Officers’ Trade Union endorsed it with active support.
The financial needs can be lawfully met by forming a Co-operative Credit Society under Maharashtra State Co-op. Credit Society Act. Hence our UBI Employees’ Co-op.Credit Society Ltd. Was registered.
Since then our UBI Employees’ Co-op. Credit Society Ltd Mumbai has grown and progressed with success in all quarters.
1. Financial Needs
The financial needs of our Union Bank Employees' working in the state of Maharashtra were met by giving loans of various types
Hire Purchase Loan
Natural Calamity Loan
Over a period of time, Hire Purchase Loan and Gold Loan were discontinued.
2. Social Objectives
With a total commitment of social welfare of our Union Bank Employees' who are members of our Credit Society, the Directors and administrators of the Society devised various schemes:-
Members’ Death Benevolent Scheme
Education Welfare Fund Scheme
Deceased Members’ Nominee Aid Scheme.
Dhanlaxmi Fixed Deposit Scheme.
Medical Aid Fund for Members.
Holiday Homes for Members.
3. Financial Standards & Transparent Accounting System:
Over a period of time, our Society was transformed from manual working system to computerized system. Now with ‘Internet’ based systems being the order of the day, we too have desired that our Union Bank Employees’ Co-op.Credit Society Ltd., Mumbai Should also not lag behind in this arena. In addition, our Society has also created Charity Fund which is used mainly for social cause like distribution of free food and water to the public assembling at Shivaji Park-Chaityabhumi on the occasion of Bharatratna Dr.Babasaheb Ambedkar Mahaparinirvandin, thereby paying our sincere tribute to the great soul of India. The Welfare schemes are modified, revived and new additions are made by the Directors and Administrators with the approval of General Body and the Registering Authorities.
4) We are proud to quote here that due to the excellent progress of the Credit Society, the Society has been awarded with the trophy of ‘The Best Employees’ Co-op.Credit Society’ twice consecutively i.e. in the year 2007, 2008 which is indicative of the overall progress of the Society. We, therefore, desired through our Website to place all our financial aspects so that they can be viewed by all. This will enable you to know the financial discipline adopted by us. It shall also spell on the financial strength and soundness of our Credit Society. The present Directors and Administrators welcome all your suggestions.
The graph of the progress of the Society is reaching higher and higher height every year. On some major parameters the following graphs will illustrate the progressive trend of the Society :-