Caribbean Union Bank
Caribbean Union Bank is an indigenous commercial bank in Antigua and Barbuda, operating three branches and serving retail and SMB customers with deposit accounts, consumer loans, Visa credit cards, and digital banking via its e-Connect platform.
- Company typePrivate
- Founded2005
- HeadquartersSaint John's, Antigua & Barbuda
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What Caribbean Union Bank does
Caribbean Union Bank (CUBANK) is an indigenous commercial bank headquartered in Antigua and Barbuda, established on December 9, 2005. It operates three branches across Antigua — Factory Road, Friar's Hill, and Jolly Harbour — with a workforce of 51-100 employees, serving retail consumers and small-to-medium businesses resident in the twin-island economy. The bank is regulated under the Eastern Caribbean Central Bank (ECCB) framework and positions itself as a locally-owned alternative to foreign-owned regional incumbents.
The bank's product suite spans standard retail and SMB banking: savings and chequing accounts, consumer lending (mortgages, vehicle, land, and personal loans), Visa Classic and Visa Gold credit cards, merchant services, payroll processing, wire transfers, and safe deposit boxes. Its technology layer consists of the proprietary e-Connect online banking platform for digital account access, supplemented by an ATM network. The bank's prime lending rate is set at 10%.
Revenue mechanics follow a classic community-bank model: net interest income from the loan book funded by customer deposits, augmented by fee-based revenue streams from card interchange (via Visa and Mastercard partnerships), merchant services, payroll processing, and wire transfer activity. Distribution is omnichannel within a constrained single-market footprint: physical branches for relationship banking and cash handling, e-Connect for self-service digital access, and ATMs for cash distribution. The bank's go-to-market relies on local market knowledge, indigenous ownership positioning, and multi-product cross-sell to households and small merchants.
Caribbean Union Bank firmographics
Firmographics- Name
- Caribbean Union Bank
- Legal name
- Caribbean Union Bank Ltd.
- Website
- https://caribbeanunionbank.com
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Caribbean Union Bank is an indigenous commercial bank in Antigua and Barbuda, operating three branches and serving retail and SMB customers with deposit accounts, consumer loans, Visa credit cards, and digital banking via its e-Connect platform.
- Ownership category
- akta.pro rank
Caribbean Union Bank industry classification
Industry- Product category
- Commercial Banking
- NAICS
- Commercial Banking (52211), Credit Card Issuing (52221)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
- akta.pro secondary industry
- Credit Cards & Revolving Credit (FSABAAAC)
Keywords
Where Caribbean Union Bank is headquartered
LocationHeadquarters
- HQ city
- Saint John's
- HQ country
- Antigua & Barbuda
Offices4 records
Markets served
Caribbean Union Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Interest Income: Interest earned on lending products including mortgages, vehicle loans, land loans, consumer loans, and corporate loans. Prime lending rate is 10%.
- Account Fees and Charges: Monthly service charges, deficiency fees, and transaction fees on checking/savings accounts. Examples: Priority Chequing $35/month, Prestige Chequing $50/month.
- Card Services: Revenue from credit card services including annual fees and interest on outstanding balances.
- Merchant Services: Transaction fees from businesses accepting Visa/MasterCard through point-of-sale terminals.
- Wire Transfer Fees: Fees for international and regional wire transfers.
- Safe Deposit Box Rental: Annual rental fees for safe deposit boxes with two free visits per month.
- Payroll Services: Processing fees for business payroll services including direct deposit.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Priority Savings - $100 minimum to open, 2.00% interest rate, $5 charge if below minimum balance |
| Subscription | Monthly | Prestige Savings - $1,000 minimum to open, minimum 2.5% interest rate varying with amount |
| Subscription | Annual | Dollar A Day Savings - $100 minimum, minimum 2.25% interest, no withdrawals before 1 year maturity |
| Subscription | Annual | Premium Savers - $5,000 minimum, minimum 2.75% interest, no withdrawals before 1 year maturity |
| Subscription | Monthly | Priority Chequing - $1,000 minimum opening, $35 monthly service charge, $10 overdraft facility up to $5,000 |
| Subscription | Monthly | Prestige Chequing - $5,000 minimum opening, $50 monthly service charge, overdraft facility up to $5,000 |
| Other | Monthly | Prime Lending Rate - 10% standard rate for loans |
| Subscription | Monthly | Safe Deposit Box - Various sizes available with XCD$10 per visit after two free visits per month |
| Subscription | Annual | Night Deposit - Annual fee XCD$140, additional bags $75 per bag |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Caribbean Union Bank product offering
Product offeringCore offering
Caribbean Union Bank is an indigenous commercial bank providing a comprehensive suite of personal and business banking products and services in Antigua and Barbuda. Its core offering spans deposit accounts (savings and chequing), consumer and corporate loans (mortgages, vehicle, land, consumer, and corporate credit), Visa-branded credit and debit cards, merchant card acceptance services, payroll services, and digital banking via the e-Connect online platform, delivered through three branches, an ATM network, and dedicated Relationship Associates.
Product overview
Caribbean Union Bank (CUB) is an indigenous commercial bank founded in 2005, operating as a single-platform banking institution offering a comprehensive suite of personal and business banking products and services. The core product portfolio centers on e-Connect, the bank's online banking platform, which serves as the primary digital channel for both personal and corporate customers. Personal banking offerings include multiple savings account tiers (Priority, Prestige, Dollar A Day, Premium Savers), chequing accounts (Priority and Prestige), diverse loan products (mortgages up to 30 years, vehicle loans, land loans, consumer loans), credit cards (Visa Classic and Visa Gold), debit cards, Junior Savers for children, retirement accounts, and Certificates of Deposits. Business banking includes Corporate Chequing/Current Accounts, Corporate Savings Accounts, Corporate Loans, Merchant Services (POS terminals and E-commerce), Corporate Visa Gold Cards, and Payroll Services. Additional services include E-Statements, Safe Deposit Boxes, Night Deposit, Wire Transfers, Drive-Thru Tellers, Financial Calculators, and an extensive ATM network. The bank's lending rate is 10% (Prime) with savings rates starting at 2%.
Differentiator
Problem solved
Functional benefit
Products and services
- e-Connect Online Banking Proprietary internet and telephone banking platform offered in personal and business versions, enabling customers to conduct transactions, transfer funds, pay utility bills, and access account information 24/7.
- Savings Accounts Personal savings products including Priority (2.00% rate, $100 minimum), Prestige (2.5%+ rate, $1,000 minimum), Dollar A Day ($100 minimum, 1-year maturity lock), and Premium Savers ($5,000 minimum, 1-year maturity lock) accounts with free online banking and ATM transactions.
- Current / Chequing Accounts Personal chequing accounts including Priority Chequing ($1,000 minimum opening, $35 monthly service charge, $10 overdraft facility) and Prestige Chequing ($5,000 minimum opening, $50 monthly fee, overdraft facility up to $5,000, unlimited transactions, free cheque cashing) with free online and telephone banking.
- Personal Loans Personal lending products including mortgages (up to 30 years), vehicle loans, land loans (up to 10 years, 10% down payment), and consumer loans for education, home renovation, vacations, and medical bills, with negotiable terms at the bank's 10% prime rate.
- Corporate Loans Business financing solutions for capital injection, fixed asset purchases, working capital, business expansion, and acquisitions, tailored for small and medium enterprises in Antigua and Barbuda.
- Visa Classic Credit Card Entry-level Visa-branded credit card offering universal acceptance at over 29 million merchants worldwide, financing options, increased security features, and emergency card replacement service within 24-48 hours.
- Visa Gold Credit Card Premium Visa-branded credit card offering enhanced purchasing power, prestige recognition, universal acceptance, emergency cash advances, financing options, and global emergency card replacement service.
- Debit Cards Debit card issued upon account opening with no credit check required, enabling ATM withdrawals, online and in-store purchases, instant transaction alerts, and 24/7 internet banking access.
- Junior Savers Account Children's savings account with no monthly maintenance fees, free online account access, and rewards, designed to help children develop savings habits from an early age.
- Retirement Accounts Long-term savings accounts for retirement planning, recommended at savings of 10-15% of income starting in one's 20s.
- Certificates of Deposits (CDs) Term deposit investments with higher interest rates than savings accounts, where early withdrawal incurs penalties; available for both personal and business customers.
- Demand Deposit Accounts Basic day-to-day personal accounts with debit card access, 24/7 internet banking, ATM withdrawals, online payments, and point-of-sale acceptance.
- Merchant Services Payment processing solutions for businesses including wired and wireless point-of-sale terminals, E-commerce integration, and access to Visa/Mastercard networks representing over 1 billion cards issued worldwide.
- Corporate Chequing & Current Account Business chequing account supporting daily operations and cash flow management with free online banking, utility bill payments, and fund transfers.
- Corporate Savings Account Business savings account with competitive interest rates and 24/7 online fund management access, designed to position businesses to take advantage of opportunities.
- Visa Gold Corporate Credit Card Business credit card providing purchasing power for corporate needs, financing options, universal acceptance, and security for overseas vendor remittances and online supply purchases.
- Payroll Services Simplified payroll solutions for businesses including electronic processing, direct deposit, and manual payroll processing options that reduce administrative costs and eliminate lost cheques.
- Safe Deposit Boxes Secure storage service for valuables including jewelry, rare collections, documents, and electronic files, available in extra small to extra large sizes with two free visits per month at XCD$10 per additional visit.
- Night Deposit 24-hour depository service for businesses to make deposits outside normal banking hours, located at the Friar's Hill branch with annual fee XCD$140 and additional bags at $75 per bag.
- Wire Transfer International and regional fund transfers using state-of-the-art technology, supporting one-time and recurring transfers with same-day processing for North America transfers submitted before 1pm.
Quantifiable outcome
- Savings accounts enjoy same privileges as Priority and Prestige Chequing accounts with no additional charges for teller, telephone and ATM transactions
- +3 more outcomes
Companies that use Caribbean Union Bank
Customer profileSegments2 records
Ideal customer profiles2 records
Caribbean Union Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Caribbean Union Bank partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- VisacoreCaribbean Union Bank issues Visa-branded credit cards (Visa Classic and Visa Gold) and processes Visa transactions through its merchant services. Visa cards are accepted at over 29 million merchants worldwide and 800,000 ATMs globally. The partnership enables the bank's card-issuing business and merchant acquiring services.
- MastercardcoreCaribbean Union Bank processes Mastercard transactions through its merchant services. Mastercard accounts for 75% of total volume of transactions with credit and debit cards worldwide. The partnership enables merchant acquiring services for businesses to accept card payments.
- Eastern Caribbean Central Bank (ECCB)minorCUB participates annually in ECCB's Financial Information Month during October, which brings public awareness to the benefits of developing good financial habits. This is part of the bank's community outreach and financial education initiatives.
Scale indicators2 records
Recent moves5 records
Expansion highlights4 records
Caribbean Union Bank competitors and assessment
Company assessmentBroad incumbents
- Republic Bank: Trinidad and Tobago-headquartered banking group with operations across the Caribbean, offering retail, corporate, and investment banking services. Comparable SME and corporate banking offerings to CUB across the Eastern Caribbean.
- CIBC FirstCaribbean: Major Caribbean banking group operating across 17 Caribbean countries with full personal and commercial banking capabilities. Competes with CUB in Antigua and Barbuda with broader scale, larger technology budget, and regional diversification.
- RBC Royal Bank Caribbean: Royal Bank of Canada's Caribbean operations providing personal, commercial, and wealth banking services across multiple Caribbean jurisdictions. Competes with CUB in Antigua for personal banking, mortgages, and business banking segments.
- Scotiabank Caribbean: Large Canadian-headquartered regional bank with deep Caribbean operations including the Eastern Caribbean Currency Union, offering comprehensive retail, commercial, and wealth banking services. Major competitor for both consumer and corporate customers in Antigua.
Regional players
- JMMB Group: Jamaica-based financial group with growing Caribbean footprint offering banking, lending, and investment services. Comparable in offering a personal and SME banking proposition within a regional Caribbean market context.
- Bank of Saint Lucia: A similarly-sized commercial bank operating within the Eastern Caribbean Currency Union, providing comparable retail and SME banking services in another OECS member state. Useful proxy for size, scale, and operating dynamics of small-island Caribbean commercial banks.
- First National Bank Saint Lucia: A commercial bank serving Saint Lucia and the Eastern Caribbean with retail and corporate banking products. Comparable in scale and business model to CUB, providing a regional benchmark for SME banking and card services.
Direct peers
- Eastern Caribbean Amalgamated Bank (ECAB): A regional bank operating within the Eastern Caribbean Currency Union alongside ECCB, providing retail and commercial banking services to consumers and businesses in multiple OECS member states. Comparable business model and customer base to CUB.
- Antigua Commercial Bank: Another indigenous commercial bank headquartered in St. John's, Antigua, offering comparable personal and business banking services in the same Antigua and Barbuda market. Direct head-to-head competitor for deposits, loans, and card services.
Others
- Sagicor Financial: Caribbean financial services conglomerate offering banking, insurance, and investment products across the region. Adjacent rather than directly competing with CUB, but a regional financial services benchmark for product diversification.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Caribbean Union Bank social profiles
Digital presenceCaribbean Union Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Caribbean Union Bank leadership team
Management profileNumber of profiles
Profiles5 records
Caribbean Union Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Caribbean Union Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Caribbean Union Bank
What does Caribbean Union Bank do?
Caribbean Union Bank is an indigenous commercial bank providing a comprehensive suite of personal and business banking products and services in Antigua and Barbuda. Its core offering spans deposit accounts (savings and chequing), consumer and corporate loans (mortgages, vehicle, land, consumer, and corporate credit), Visa-branded credit and debit cards, merchant card acceptance services, payroll services, and digital banking via the e-Connect online platform, delivered through three branches, an ATM network, and dedicated Relationship Associates.
Is Caribbean Union Bank a public or private company?
Caribbean Union Bank is a private company. It is classified as unknown and is currently operating.
When was Caribbean Union Bank founded?
Caribbean Union Bank was founded in 2005. It employs 51 to 100 people.
Where is Caribbean Union Bank based?
Caribbean Union Bank is headquartered in Saint John's, Antigua & Barbuda.
How does Caribbean Union Bank make money?
Seven revenue lines are on record. Interest Income is the primary driver. The others are account Fees and Charges, card Services, merchant Services, wire Transfer Fees, safe Deposit Box Rental and payroll Services.
Who are Caribbean Union Bank's main competitors?
Broad incumbents on record are Republic Bank, CIBC FirstCaribbean, RBC Royal Bank Caribbean and Scotiabank Caribbean. Regional players are JMMB Group, Bank of Saint Lucia and First National Bank Saint Lucia. Direct peers are Eastern Caribbean Amalgamated Bank (ECAB) and Antigua Commercial Bank. Sagicor Financial is listed as an others.
Does Caribbean Union Bank have an API?
No public API is recorded for Caribbean Union Bank.
What industry is Caribbean Union Bank in?
Caribbean Union Bank's product category is Commercial Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of FSABAAAC, Credit Cards & Revolving Credit. Its NAICS code is 52211 and its SIC code is 6021.