The City Union Bank was established on 31st October, 1904 as a limited company called the Kumbakonam Bank Limited. The first Memorandum of Association was signed by twenty devoted and prominent citizens of Kumbakonam.
The first Branch of the Bank was opened at Mannargudi on 24th January 1930 followed by opening of multiple branches within a span of 25 years. The Bank was included in the Second Schedule of Reserve Bank of India Act,1934, on 22nd March 1945.
In 1957, the bank took over the assets and liabilities of the Common Wealth Bank Limited. This was followed by the acquisition of, in April, 1965, two other local banks, ‘The City Forward Bank Limited’ and ‘The Union Bank Limited’.
The first branch outside the state of Tamilnadu was opened at Sultanpet, Bangalore in Karnataka in September, 1980 followed by two branches in Andhra Pradesh. In keeping with its national image, the Bank’s name was changed to ‘City Union Bank Limited’ with effect from December,1987. The bank obtained its Authorised Dealers License to deal in Foreign Exchange business with effect from October, 1990.
As of February, 2009 the Bank has a network of 202 Branches spread in different parts of the Country.
The bank offers car loans under the name CUB Yoha Vahan