Umuchinemere Procredit
Microfinance Bank Nigeria Limited

The Umuchinemere Pro-credit Microfinance Bank Nigeria Limited (UPMFB) Enugu has opened an office in the densely populated sub-urban area of Emene, Enugu East Local Government Area of Enugu State to take care of its customers in the locale.

The opening of the new office meeting point is part of the bank's implementation of its guiding/regulation policy of reaching out to the grassroots, economically empowering the active poor in the system and providing their banking needs.

Monsignor Prof. Obiora Ike, chairman of the bank, said at the opening ceremony of the new office, situate at No. 94, Old Abakaliki Road, Emene, that what the bank was doing by its activities was "economic evangelization".

It is part of the social activities of the Roman Catholic Church to emancipate the active poor in the society economically, which was said to have necessitated the establishment of the bank in 1995 by the Enugu Diocese of the church.

At the ceremony, which attracted a large gathering, especially from the small and medium scale part of the Emene business community, Mgr. Ike assured that no one would lose one's money deposited with a bank established by the Roman Catholic Church.

He adjudged UPMFB as a strong bank, with an asset of ₦1.5billion, being the number one grassroots bank in the country, with firm vision and ambition.

He said by Central Bank of Nigeria's (CBN) rating, Umuchinemere was the number one of microfinance bank in Nigeria because it kept to the policy guideline for MFBs.

Chairman of the bank's shares mobilization committee, Rev. Dr. John Amadi, while urging the people doing business or living at Emene to invest in the bank, described Mgr. Obiora Ike as one priests who is out to help the poor out of the woods.

Mrs. Ngozi Asoquo of the credit units of the bank gave a detailed description of the products and services provided by the bank, which would be offered at the new office. They include various micro loans, current account, savings account, deposit account, etc.

Chairman of Oye Emene Traders Association, Mr. Chijioke Ezeme, said the association was happy for the coming of UPMFB to Emene to assist them grow their business because capital had been a major constraint to them.

Mr. Ezeme described UPMFB as the true bank for the poor and urged it to keep to its promise to assist the grassroots.