| Union Teachers Empowerment Account 
| This is a checking account maintained for the purpose of salaries of teachers in Tertiary Institutions. Also a mandatory savings opened to save an agreed minimum of 10% monthly salary by the teachers for target credits. Features/Benefits
 Checking account with mandatory savings component
Letter of undertaking from the employer to pay salary and other benefits through the bank
Access to receiving up to 50% of project costs as loan against savings. The counterpart 50% under the scheme will be saved over a minimum period of one year.
Lien over balance in savings account
assets and/or personal loan of proceeds of income-yielding projects shall be mortgaged to the bank. Preference for Agriculture, Mortgage, Computer, Car, Household, Reseach, Education and Publications.
Account holder can draw up to 80% of monthly salary with a maximum tenor of 90 days
Interest on savings is 1% above the bank's savings account rate
Account to be opened with zero, but with minimum balance of N1000.00
Cocessionary and COT to be reviewed on merit of request
Loans to sponsor self for higher degrees using guarantee and/or indemnity of the institution
Free personal accident insurance cover of up to N50,000
For minimum credit of N100,000
To open a Utea Account, visit any Union bank branch nationwide or call
234-1-2644361,2644193,2644198
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