Union Bank’s dedication to fostering a savings culture and rewarding customer loyalty has been exemplified through its UnionKorrect savings promotion, a multifaceted initiative designed to incentivize consistent saving habits among its customer base. The promotion, culminating in a series of draws held at the bank’s Douglas Road Branch in Owerri, Imo State, witnessed the distribution of over N21 million in cash prizes to 452 fortunate UnionKorrect account holders. This significant investment underscores the bank’s commitment to both its customers’ financial well-being and its own role in promoting financial literacy and responsible money management. The draws, conducted under the watchful eyes of relevant regulatory bodies, ensured transparency and fairness, bolstering public trust in the process.
The UnionKorrect savings promotion encompassed three distinct account categories – Regular, Exclusive, and DeiDei – each tailored to varying savings capacities and financial goals. This tiered approach allowed for wider inclusivity, enabling customers across diverse income brackets to participate and benefit from the reward scheme. Within the UnionKorrect Regular category, 100 customers received N25,000 each, providing a welcome boost to their savings. An additional 40 customers were rewarded with N50,000 each, while one lucky winner claimed the grand prize of N500,000, a testament to the life-changing potential of consistent savings. These rewards not only recognize and celebrate the commitment to saving but also provide a tangible incentive for continued financial discipline.
The UnionKorrect Exclusive category, designed for customers with higher savings capacities, offered even more substantial rewards. Seventy-five customers each received N100,000, significantly augmenting their existing savings. Ten customers were further rewarded with N500,000 each, while the grand prize of N1 million went to a single fortunate winner. This tiered reward system not only acknowledges differing levels of savings but also encourages upward mobility within the program, incentivizing customers to strive for higher savings goals. The substantial rewards within this category reflect the bank’s recognition of and appreciation for the commitment of its high-saving customers.
Catering to a wider demographic, the UnionKorrect DeiDei account category focused on rewarding consistent savings even at smaller denominations. This category saw 200 customers receiving N10,000 each, recognizing the importance of regular savings regardless of the amount. A further 24 customers received N20,000 each, while one lucky saver took home the grand prize of N100,000. This inclusive approach underscores the bank’s commitment to supporting savings habits at all levels, emphasizing the principle that consistent, even small, contributions can lead to significant long-term gains.
Adenike Olokunbola, Union Bank’s Head of Elite Banking, articulated the bank’s overarching objective with this promotion: to empower customers in achieving their financial aspirations. By providing a structured savings platform and incentivizing consistent contributions through attractive rewards, Union Bank is not just facilitating savings but actively partnering with its customers on their journey towards financial security. The UnionKorrect accounts are designed to provide a sustainable avenue for achieving future financial objectives, transforming the act of saving from a chore into a rewarding experience.
The UnionKorrect savings product, functioning as a sub-account, offers a compelling proposition for customers. It allows them to earn competitive interest rates while committing to a fixed monthly savings amount over a two-year period. This structured approach encourages disciplined saving habits and provides a clear roadmap for achieving financial goals. The eligibility for regular draws and the potential for winning substantial cash prizes further sweetens the deal, adding an element of excitement and anticipation to the savings journey. This innovative product underscores Union Bank’s forward-thinking approach to financial services, aligning the bank’s interests with the financial well-being of its customers.
