It is licensed under the Banking and Financial Institutions Act 2006 and regulated by the Bank of Tanzania Act 2006. Its main focus is to work with organized grassroots economic groups that have hitherto been largely under-banked, principally individuals running small and medium enterprises (SMEs) in Northern Tanzania.
ShareholdingThe main shareholder of UCB is the Northern Diocese of the Evangelical Lutheran Church in Tanzania (ELCT-ND). The bank has however extended ownership to individuals and other entities.
The bank was established by ELCT-ND with a two-pronged mission:
(a) To have a vibrant commercial bank based in Moshi town, providing friendly state of the art commercial banking services to all its multi-cultural customers.
(b) To support the re-emergence of financially sustainable savings and credit societies (SACCOs, VICOBA & MBOs) through the extensive network of parishes - to address the needs of hundreds of thousands of the poor people all over northern Tanzania, irrespective of their religious beliefs.