Banco Union S.A. (Colombia)

Banco Unión S.A., formerly known as Giros y Divisas, was established in 1995 in the city of Cali by a group of entrepreneurs from Valle del Cauca. In the same year, the company signed a contract as an agent of Western Union in Colombia, a leading multinational in the global remittance market, which is still in effect today. After merging with Orión Compañía de Financiamiento in 2001, the company became Giros y Finanzas Compañía de Financiamiento Comercial. In 2017, Banco Unión launched its transactional portal and introduced services such as international money transfers to bank accounts and direct collection of remittances into savings accounts, becoming an authorized digital agent of Western Union. In 2018, the company made the decision to become a banking entity, transforming its communication, image, relationships, and financial aspects to emphasize its closeness to customers, offer a wide range of products beyond remittance services, position itself as a financial institution, and create a name that conveys the essence of the company, unity. In 2020, during its conversion process to a bank, Banco Unión adapted to the new global reality by creating its Home Delivery Remittance service, allowing users to receive their money without leaving their homes during the Covid-19 pandemic. The company also introduced a contactless payment card to ensure the safety of its customers and successfully joined ACH to enable interbank transfers to and from the Giros y Finanzas Savings Account. In September 2022, the company rebranded as Banco Unión, formerly known as Giros y Finanzas. Currently, Banco Unión offers a wide range of financial products and services to meet the needs of its customers. These include Savings Accounts, Time Deposits (CDT), Debit Cards, Revolving Credit, Payroll Loans, Insurance, Credioro, Credit Cards, payment of public or private utility bills at their offices, and much more. Efecty, Multipagas, Punto Red, CFA, Banco Agrario, and Don Pago have become Banco Unión's correspondent allies to expand its coverage and extend its services throughout the country. Banco Unión, formerly known as Giros y Finanzas, has always been characterized by offering innovative and secure services, aiming to be the financial institution for Colombians abroad and their families in Colombia.