CoopFund MFB Appreciates Customers, Stakeholders; Says First Year Has Been About Innovations

CoopFund Microfinance Bank has attributed the success it has recorded in its first year in business to the support of its customers, saying it has innovatively scaled up its offerings and deployed latest technology to amplify its customer satisfaction drive.

Speaking, Managing Director of the bank, Chiemela Ubani said this on Thursday, June 19, 2025 during the bank’s one year anniversary in Bonny, Rivers State.

He expressed his appreciation to the various stakeholders, who, according to him, have been supportive of the bank from inception, noting that such support has seen the bank innovate and scale-up deliverables to its customers.

“This occasion is not just a reflection of the time that has passed but a celebration of our collective achievement, challenges we did overcome and the relationship we have built over the past year.”  

“When we embarked on this journey, we set out with a vision to create a bank that prioritizes innovation, integrity, professionalism customer focus and community. We envisioned a space where our clients feel valued and empowered and where our team can thrive and grow.”  

“I am proud to say that in just one year we have made substantial strides towards realizing that vision.”  

He stated that in its one year in business, the bank has evolved innovative solutions to the variegated needs of its ever growing clientele, expanded its partnership network, upscaled its offerings to customers, and responded to the financial needs of Bonny Island.

“Our achievements and milestone are hereby itemized. Over the past year, we have opened our doors to more than 800 customers and this includes individuals, corporate entities, organizations and kids providing them with tailored financial solutions that meet their needs.”  

“We were able to develop innovative products and services that have redefined banking in our community and I stand to say that we are the only microfinance bank here on the island.”

“For over the past one year, we have ensured that we are digitally driven. We have made ourselves visible on the Google Play Store, IOS App Store and our USSD code is active.”

“We also have a functional ATM card that could be used to carry out transaction on PS terminals ATM as well as for online transactions We fostered a work culture that emphasizes extreme teamwork diversity and continuous learning enabling our staff to deliver their best every day.”  

On his part, Chairman of the CoopFund MFB Board of Directors, Joseph Alagoa averred that with the commitment and dexterity of the bank management and staff, it has in 12 months grown its customer base to 820, while its digital banking platform is already delivering convenience and accessibility.

Represented by a Non-Executive Director of the bank, Emmanuel Uleh, the CoopFund MFB Chairman stated that the bank has “maintained robust financial health with a balance sheet that reflects sound governance and strategic discipline”.

He, however, assured that the bank will “not rest on our laurels. This is just the beginning. As we enter our second year and beyond, our focus remains clear. One, to deepen customer trust through excellence in service. Two, to lead with innovation, using technology to anticipate needs and enhance experience”.

“Thirdly, to maintain a responsible institution guided by transparency, ethical values and a commitment to inclusive growth. Our vision is to be to be more than a bank, to be a catalyst for progress in every market we serve. We are building a future ready institution that listens, learns and leads.”  

“To our customers, thank you for believing in us. To our regulators and partners, thank you for your support and collaboration. To our employees, thank you for your passion, professionalism and purpose driven work. And to my fellow board members and management team, thank you for your stewardship, your insight and your unwavering dedication.”  

Also speaking, the Director, Special Insured Institutions, Nigerian Deposit Insurance Corporation (NDIC), Mercy Ezeife, who was represented by a Senior Manager in NDIC, Sylvester Agbo, congratulated CoopFund MFB on its one year anniversary, observing that its achieved milestone speaks to the resilience, vision and commitment of its leadership.

“Congratulations to the board, management, staff and customers of CoopFund MFB on the celebration of its one year anniversary. This milestone is not only a testament to the resilience, vision and commitment of the bank leadership, but also a reflection of the vital role microfinance banks plays in driving financial inclusion, empowering local communities and fostering economic development.”

“As a key safety net player in the Nigerian financial system, the NDIC remains committed to promoting public confidence through effective deposit insurance and strong regulatory collaboration. We applaud CoopFund MFB for its efforts over the past year and encourage the bank to sustain sound governance, innovation and customer focused services as it journeys into the future ahead.”

Congratulating the CoopFund Microfinance Bank, the President of Bonny Chamber of Commerce, Industry, Mines and Agriculture, Constance Nwokejiobi commended it for proving to be more than a bank, describing it as “a partner in prosperity”, saying it has in one year been “offering tailored financial solutions to MSMEs supporting informal traders, artisans, youth entrepreneurs and cooperative societies”.

Nwokejiobi, who was represented by the Senior Advisor on Bonny Chamber Women in Business & Welfare, Elfrida Jumbo, stated that the bank has become “a powerful stimulus for local economic growth”, adding that “the partnership between CoopFund and the Chamber reflects our shared vision”.

Other speakers who spoke at the event commended the doggedness and resourcefulness of the bank’s leadership, praising it for redefining banking experience for residents and visitors to Bonny Island, and urging it to do more in the coming years.

Highlights of the event was the cutting of the one year anniversary cake and unveiling of its Smart Banking promo, entertainment and good music.