Thane is a city in the northwestern side of Maharashtra, around 25 kilometers away from Mumbai. Just like Mumbai, Thane experiences a humid tropical climate with heavy rainfall during monsoon. An immediate neighbor of Mumbai, Thane, is an extremely populous urban agglomeration with nearly two million residents. It is a part of the huge Mumbai Metropolitan Region. Being more of a residential city, the people of Thane mostly work in the service sector of the Mumbai Metropolitan area. Thane generates the fifth largest GDP in the state. Thane holds great records of history. Indias first railroad was laid in Thane and it was the terminus for Asias first ever passenger train which was inaugurated on 6th April 1853. The train connected a stretch of 34 kilometers from Thane to Colaba. The city has rapidly developed and is now well-connected with several neighboring suburbs and other cities through railways as well as roadways. With a handsome share of skyscrapers and plenty of amenities, Thane has become one of the most well-developed and well-planned cities in Maharashtra. Thane provides a great number of opportunities as well as a lifestyle similar to Mumbais. Thane is away from the cacophony of Mumbais city life, yet it is near enough to feel Mumbais lively vibes.
The City Union Bank was incorporated in the year 1904. In the year 1990, the bank has introduced computerization, and all the branches were computerized. The bank had an agreement with TCS for entering the Core Banking Solutions. The City Union Bank has installed ATMs at selected centers from where the users could check their account balance, withdraw cash and obtain account statements. The City Union Bank attained a license from the IRDA for selling insurance products and providing other value-added products. The bank entered into memorandum with LIC for selling insurance products. To function as a depository participant, the bank obtained the license under National Securities Depository Limited. The digital banking services of City Bank Union consists of Chatbot facility or Ask Lakhshmi, Passbook printing kiosk, Internet and mobile banking, CUB Virtual Credit Card facility and Cheque clearing kiosk. In 2016-17, it was awarded as the IRDBT Banking Technology Excellence Award of the year for cybersecurity and defense among the small banks.