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UNION BANK: How to Achieve your SMART Financial Goals in 2016

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Everyone desires financial success, but that desire must be matched with SMART financial goals to translate to success.
Most times, we set financial goals that are self-defeating. The reason why it seems like New Year resolutions to eat healthier or exercise regularly almost always fail by the second month of the year is because most times, we do not set clear parameters for success. In the end, our resolution becomes merely a wish.
Setting S.M.A.R.T. financial goals forces us to become accountable and ensures that we actualize our goals towards financial security.
With a brand promise to make banking simply and smarter, Union Bank has created several solutions to ensure that customers meet their financial goals when they make SMART decisions about their finances.
MAKING S.M.A.R.T FINANCIAL GOALS:
1. BE SPECIFIC
First, your financial goals should be as specific as possible in order to successfully achieve exactly what you want. Always include as much detail as possible.
How much do I earn?
How much do I spend?
What are my fixed expenses?
How much disposable income do I have?
Being able to answer this questions then you can know exactly how much you have to spend.
Union Bank created the UnionKorrect savings scheme to conveniently help its customers achieve their financial goals. Whether your dream is to buy a car or save towards the purchase of a land, with as little as N5000 monthly savings with your UnionKorrect account, we will set you on a path to achieving your dream over a set period of time. In addition, with UnionKorrect customers stand a chance to win up to N1million in a quarterly draw. With UnionKorrect, you can save small and do big things. To open a UnionKorrect account, call 0700 700 7000.

2. YOUR GOAL SHOULD BE MEASURABLE
In order to achieve your goal, it must be measurable. For example, simply saying “I want to save more” is not measurable. Even if you have a vague idea of what that would mean for yourself, you have no way of knowing when you’ve achieved it or how you plan to achieve it. If you were to say, “I would like to save N1, 000,000 in 4 years for a plot of land” this would be measurable and achievable with a UnionKorrect account. A standing instruction is placed on your existing Union Bank account and your UnionKorrect account is credited monthly with starting at N5000 or any multiple amount you specify.
A standing order (or a standing instruction) is an instruction a bank account holder gives to his or her bank to pay a set amount at regular intervals to another account.
3. IS YOUR GOAL ATTAINABLE?
Ensure to set financial goals that are attainable. This is why setting specific, detailed goals are important. By identifying what you hope to achieve, you can identify potential roadblocks and obstacles that could make it difficult to get where you want to be financially.
4. BE REALISTIC
Much like your goal should be attainable, it should also be realistic. While we aren’t suggesting that realistic should equal easy, ensure that your goals present a challenge you are able to overcome. It will take effort but it is not impossible.
5. TIMELY
Lastly, ensure that your goal is timely. In order to be measurable, your goals must have a well-defined timeframe. Often times, we do not consider time when we set our goals and it leads us to setting high expectations over a short period of time, causing us to abandon our goals midway when we don’t see the desired progress. UnionKorrect is a tenured savings solution that helps you achieve financial progress over a reasonably set period of time ensuring that you are not overstretched as you work towards your financial goals.
So, have you set your SMART financial goals? Call Union Bank today on 0700 700 7000 and sign up for UnionKorrect or any of our other financial solutions to help you achieve you goals.
Not a Union Bank customer yet? Visit any of our branches or Smarter Banking Centers and select the right financial solution for you.
Our Smarter Banking centers are self-service branches designed for technology savvy customers who want quick, easy, on-the-go banking.
With other smart solutions like UnionMobile – our mobile banking app and our online banking platform UnionOnline, you can access secure and convenient banking services 24 hours a day, 7 days a week.
To learn more about how Union Bank is making banking simpler and smarter, please visit www.unionbankng.com and follow us on social media
https://www.facebook.com/UnionBank

https://www.youtube.com/user/UnionBankNG

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Controversial Sterling Bank caught in the act! CBN sanctions, parades officials for hoarding new naira notes [VIDEO]

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Officials of the Central Bank of Nigeria (CBN) have discovered N6 million of the new naira notes hoarded in Sterling Bank Plc, Ado Ekiti branch on Bank Road, Ado Ekiti in Ekiti State, having received the funds for over two weeks, THE WITNESS reports.

 

In a trending video on social media, seen by THE WITNESS, a man who identified himself as Oluwole Owoeye, a deputy director of CBN, while monitoring the distribution of the new naira notes in the state, was seen questioning the bank officials as to why they have not uploaded the funds into their Automated Teller Machines, (ATMs), despite having six of the machines in place.

 

The CBN director also announced a fine of N1 million for each day the fund was in the bank’s custody.

 

The CBN official said, “I am currently at Sterling Bank, on Bank Road as part of the new naira notes monitoring compliance with the guidelines by CBN. They have N6 million, which they collected from the bank for almost two weeks, they have not disbursed any. They said they are yet to configure their ATMs, I do not know why that and I have brought attention to the penalty clause of N1 million per day, because they have five ATMs here, they have no reason for keeping this money.

 

“The zonal service manager, Tunde Onipede promised that by 10:00am latest tomorrow (Monday), because I told him by latest 10:00 am I’ll be here and I want to see the machine dispensing this money.

 

“What is the name again? Olumide Owolabi (Service Manager, Ado) & Motunrayo Babayele. My name is Oluwole Owoeye and I am a deputy director of CBN.”

 

WATCH VIDEO HERE:

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FCMB Manager Arrested For Hoarding New Naira Notes

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A manager of the First City Monument Bank (FCMB) branch in Osogbo, Osun State capital, has been arrested for allegedly preventing Automated Teller Machines (ATMs) loaded with cash from dispensing money to customers.

The spokesperson of the Independent Corrupt Practices and other related offenses Commission (ICPC), Azuka Ogugua, in a statement on Friday said the cash bundles were loaded into the ATMs while still wrapped, and as such, could not be dispensed through the machines

“The ICPC Compliance Team in Osogbo has busted an FCMB in Osogbo, Osun State, where some ATMs were loaded with cash with their wrappers un-removed, thus preventing the cash from being dispensed.

“The Team, therefore, directed that the wrappers be removed, and the cash loaded properly’.

Similarly, seven Point of Sale (POS) operators as well as a security guard were arrested during the ongoing exercise in Osun State for charging exorbitant commissions for cash.

Investigations, however, revealed that they got the money from Filling Stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.

The arrested persons are helping the Commission with information to assist investigations and bust any syndicates involved in the hoarding or sales of the redesigned notes.

 

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New naira: ICPC arrests Stanbic IBTC Bank manager over sabotage

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The Independent Corrupt Practices and other related offences Commission (ICPC), has arrested an official of Stanbic IBTC Bank in Abuja for alleged sabotage.

The ICPC spokesperson, Azuka Ogugua, said the development was in continuation of ICPC’s clampdown on elements frustrating efforts in making the redesigned Naira notes available to members of the public.

The bank official, who is the branch service head of Stanbic IBTC Bank, Deidei Branch in Abuja, was taken into custody for her deliberate refusal to upload cash into the branch’s Automated Teller Machines (ATMs) even when the cash was available and people were queuing at the ATM points.

The statement reads: “When the ICPC monitoring team stormed the bank at about 1:30pm on Friday to ensure compliance, and demanded explanation as to why all the ATMs were not dispensing cash, the team was informed by the branch’s head of operations that the bank just got delivery of the cash.

“However, facts available to the ICPC operatives indicated that the branch took delivery of the cash earlier around 11:58am and either willfully or maliciously refused to feed the ATMs with the cash.

“Against this backdrop, the ICPC team compelled the bank to load the ATMs with the redesigned Naira notes and ensured that they were all dispensing before arresting the culprit.

“The ICPC said investigations were still ongoing and the Commission will take appropriate actions as soon they are concluded.

“Similarly, seven Point of Sale (PoS) operators as well as a security guard were arrested during an ongoing exercise in Osun State for charging exorbitant commissions for cash.

“Investigations, however, revealed that they got the money from Filling Stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.

“The arrested persons were helping the anti-graft commission with information to assist investigations and bust other syndicates involved in the hoarding and sales of the redesigned Naira notes,” the anti-graft agency said.

 

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