Union Digital Bank (UnionDigital), a unit of Union Bank of the Philippines (UnionBank), kicked off its second anniversary celebrations by repainting classrooms and donating school supplies to San Pedro Elementary School in Laguna.
UnionDigital on Tuesday said the activities are part of its UD Cares Initiatives and Brigada Eskwela Program.
“At UnionDigital, each anniversary is not just a time for celebration but an opportunity to give back to the community. This year, we are kicking it off with our UD Cares initiative, focusing on critical social development pillars to support those in need,” UnionDigital chief human resources officer Lanie Santos said.
Loans made accessible
Using digital technologies and smartphones, UnionDigital is able to make loans more accessible to Filipinos in the provinces so they can fulfill their basic needs, such as education and healthcare.
“UD loans provided the financial support I needed to cover my urgent medical procedure. While other banks turned me away, UnionDigital stepped in to help, and for that, I am deeply grateful,” Julie dela Vega, one of the bank’s customers, shared.
The digital lender’s parent company UnionBank has attracted 14 million customers, resulting in 33 percent compounded annual growth since 2019 and a P9.2 billion net income last year.
“While others hesitated, we led the way, aware of the challenges that come to champion financial inclusion. We are now armed with valuable insights from our experiences, prepared to extend our influence and intensify our impact to create a future where financial services are accessible to every Filipino,” UnionDigital chief commercial and revenue officer Mike Singh said.
Last year, UnionBank’s consolidated consumer loans expanded to 58 percent of the total loan portfolio. This includes mortgage loans, personal or salary loans, and auto loans.
Operating costs jumped by 43 percent to P45 billion during this period as UnionBank enhanced systems of UnionDigital, apart from integrating Citi cardholders.