Umuchinemere Procredit Micro Finance Bank Nigeria Limited (UP-MFB), formerly Umuchinemere Community Bank (UCB), was established in 1995 by the Catholic Diocese of Enugu, Nigeria. It started operations precisely on July 22, 1995, with its corporate Headquarters located at No. 5/9, Ikwuato Street, Uwani, Enugu, Nigeria.

The bank was established during the time of the late Bishop Emeritus of the Diocese, Rt. Rev. Dr. Micheal Ugwuja Eneja, as the Founder/Legal Holder.

Chief Sir Gabriel Akachukwu was the first Chairman of the bank when it started, while Chief Sir Anthony Nwachukwu was the Supervising Director with Chief John Nnam as the founding Manager.

The old Board of Directors of the bank was comprised of Sir G.O. Akachukwu (Chairman), Prof. Julius Onah, Dr. Mrs Vero Mogboh, Msgr. Ferdinand Okpalaibekwe, Chief Sir Anthony Nwachukwu, Msgr. Dr. Tobias Anichebe, Msgr. Dr. Anthony Aso, Msgr. Dr. Anthony Anijielo, Msgr. Prof. Obiora Ike, Dr. Mrs. Ndidi Nnoli Edozie, etc. Msgr. Obiora Ike was the Co-ordinating Director then.

Following a new policy guideline of the Central Bank of Nigeria (CBN), introduced December 15, 2005 by the Federal Government of Nigeria, on establishment of Micro credit financing (that Community Bank changes to Micro Finance Bank), Umuchinemere transformed into Umuchinemere Procredit Micro Finance Bank Nigeria Limited (UP-MFB).

The CBN granted Approval-In-Principle (AIP) to the bank to operate as a unit Micro Finance Bank (MFB) in February, 2007. And in September the same year (2007), after satisfying the stringent regulatory and operation requirements/conditions stipulated by government, through the CBN, Umuchinemere Procredit MFB was granted a Final License by the Central Bank to operate as a full fleged Micro Finance Bank, licensed to operate in a state. It became the first MFB with one billion naira authorized share capital base and the first MFB with final license in the eastern part of the River Niger in Nigeria.

The bank applied to the Corporate Affairs Commission (CAC), Abuja, Nigeria for approval to capitalize from 100 million to one billion naira and was granted the request in July 2007. UP-MFB thus became the first among the over 700 Community Banks in the whole of Nigeria to achieve this one billion naira capitalization approval, which positions it as a state Micro Finance Bank.

According to the CBN  regulatory guideline, as state MFB, Umuchinemere is free to establish branches or Customer Relations Offices (CROs) in any part of the state where it has its operational base, and could perhaps operate in other parts of the country.

Presently, the bank is headed by Msgr. Prof. Obiora Ike as the Chairman, while Mrs Nnenna Maria Ekete is the Managing Director. Other members of the Board are Msgr. Dr. Anthony Anijielo, Dr. Mrs. Ngozi Agu (Chairperson, Catholic Women Organization, Enugu Diocese), Dr. Mrs. Ndidi Nnoli Edozie, Mr. Peter Alex Egom. Members of the Board are refered to as Directors.

The Company Secretary is Rev. Sr. Barrister Benedicta Odoh.

UP-MFB’s Management team is composed of: Mrs. Nnenna Maria Ekete (Managing Director), Mr. Charles Ozor (Deputy Managing Director), Mr. Charles C. Iheanacho (Senior Manager Operations), Mr. Ikechukwu Ngene (Manager Credit), Mr. Odinaka Okeke (Head, Business Development), Mr. Fabian Ozoana (Internal Auditor), Mr. Cajetan Eze (Head, Human Resources), Mr. John Umeh (Assistant Manager Credit), Sir Abuchi Anueyiagu (Head, Public/Media Relations), Mrs. Gloria Uzodi (Head, Information and Communication Technology), Mrs. Bibiana Oforje (Accountant) and Mr. Cyprian Ezeagu (Acting Head 9th Mile Operations).

UP-MFB has a work force of a total of 74 persons and 30 ancillary workers at the moment. The bank has a Main branch and 11 outside offices: 9th Mile Corner, Udi LGA, Enugu (Plot 176 Enugu Road, 9th Mile Corner); Abakpa Nike (Amuri Road, Abakpa Nike Market  Enugu); Afia 9 (Ugwu Road, Afia 9, Ogui New Layout, Enugu); Emene (Godfrey Okoye University Thinkers Corner, Emene, Enugu); Amokwe (Amokwe, Udi LGA, Enugu State); Awkunanaw (No. 253, Agbani Road, Enugu); Old Artisan Market, Enugu; Akwata, Ogbete Main Market, Enugu; New Market, Enugu; Afor Oghe, Amansiodo, Ezeagu LGA, Enugu State; and Orie Aguagbaja, Umana Ndiagu, Enugu State.

The new Bishop of Enugu Diocese, Rt. Rev. Dr. Callistus Valentine Chukwuma Onaga, is the current  Legal Holder of the Bank, being the Head of the Church in the Diocese.