ity Union Bank (CUB) is a 115 years old bank head quartered in Kumbakonam City, Tamil Nadu. They have a track record of consecutive profitable years, for so long. I attended the Foundation Day Celebrations, today, in Chennai. Honorable Finance Minister Smt. Nirmala Sitaraman had been the chief guest for the function, and delivered a wonderful speech.
The bank has not lost a single day due to strike as their employees are so committed.
Hon'ble Finance Minister launched All in One CUB mobile app that provides all the mobile banking facilities. It has a chat bot that can answer questions in English, Hindi, Tamil and Telugu.
FM mentioned the following great points in her inspiring speech.
- Running a bank, for so long, with no black mark is a great great achievement
- Nurturing the Trust in every customer is the biggest asset of CUB
- CUB spends about Rs. 50 crores in Corporate Social Responsibility Fund and provides so much of support to the full cycle eco-system. This is a very proud moment for Tamil Nadu
- The management principles of the bank must be released as a book and it must be taught in management schools
Mr. N. Kamakodi, MD & CEO of CUB, mentioned that Consistency, Stability and Trust are the most important driving factors of the bank. Hon'ble FM also recollected that she had listened to one of Mr. Kamakodi's interviews and the same points are stressed again now. This is how every bank should operate.
Hon'ble FM spoke that scaling up is seen as a fad nowadays; but scaling up by leaving basic responsibilities and at the expense of customer trust must not be encouraged. She had mentioned that CUB has ensured that its core values are not altered and distracted by unreasonable expectations; instead, CUB has added values thru technology and other measures to its core services and this is a commendable job.
I feel proud to be a CUB customer.