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Union Bank Employees' Union (TN) - Staff Welfare Fund
Union Bank Employees' Union (TN) Staff Welfare Fund was started on 01.08.1985 at Coimbatore with the aim of providing timely financial relief to the members of the Union, who are in distress.
Initially, the Death Relief was Rs.10,000/- to the family of a members, who expires during his/her service in the Bank. Depending upon the years of contribution, members were given a Retirement Benefit of Rs.3,000/- to Rs.20,000/-. Apart from this, they will also get the unsanctioned portion of the Hospitalisation Reimbursement paid by the Bank.
Initially the subscription was Rs.10/- per month. Gradually it was increased and at present the subscription is Rs.100/- per month. Now, all the members joining the Union are taken as members of the Fund.
Death Relief which was Rs.10,000/- at the time of inception, now increased to Rs.2,00,000/-. So far several families in distress were helped by the Fund.
At present, the Fund is managed by our young comrades with the guidance of experienced senior comrades.