Corporation Bank

Corporation Bank (Now Merged with Union Bank of India)

In the past Corporation Bank was a leading public sector bank in India. We see that in 1906 the bank took off in Udupi, Karnataka. Over the years it grew into a solid player in the national market. The bank won over customers with its great service and large variety of financial products.

In 2020 we saw a different trend play out which is that Corporation Bank merged into Union Bank of India as a part of government’s banking reform effort. Also as a result of this merger Corporation Bank is no longer a separate entity today. Its branches, services and customers are now fully integrated into Union Bank of India.

History and Growth of Corporation Bank

Corporation Bank was first known as Canara Banking Corporation which at the time was in Udupi. We see that it started out as a small local bank which over time grew to have a presence all over India. In 1952 after receiving its license from the Reserve Bank of India the bank saw great growth and won the trust of its customers.

In the 1980’s the bank was nationalized which helped it to reach out to more people, in particular those in rural and semi urban areas. Over time the bank grew to have hundreds of branches and ATMs in many states. Before the merger which brought it to its present form the bank had a large network and was known for its basic banking services and dependability.

Corporation Bank Merger

In 2020 Corporation Bank became a part of Union Bank of India. This was a step in a bigger plan to improve public sector banks’ strength and stability. Post merger all accounts, loans and services were transferred to Union Bank which in turn did not see any disruption for the customers.

Customers that were previously with Corporation Bank can now access Union Bank’s branches, mobile banking, and online services. We saw that account numbers, IFSC codes, and the like were updated, but in general the banking relationship went on without issue.

Banking Services Offered

Though at present Corporation Bank does not function as a separate entity, its services are still available through Union Bank. Customers do report no disruption into their full range of banking services.

Personal banking offers savings accounts, current accounts, fixed deposits, and recurring deposits. These are the primary services which most people use for day to day banking. Also they have internet banking and mobile banking which brings it to you right to your home for easy money management.

For business customers they have solutions like working capital loans, project funding, and cash management. They put these forward to help out small and large businesses with their financial management.

The bank also has debit cards, credit cards, and digital payment options. In the wake of the rise in online payments in India we have seen these services become very important to the customer.

Loan Facilities Available

Corporation Bank had an extensive portfolio of loan products which are now seen under Union Bank of India. They have a variety of loan options for customers to choose from based on what they need.

Home loans they have for purchase, build or renovate a home. Also offer flexible repayment options and our loans are for salaried as well as self employed individuals.

Personal loans they have for things like vacation, wedding, or health issues. Also these loans are very fast and do not require a lot of paperwork.

Education loans are for students that wish to study in India or abroad. They cover tuition, travel, books and other study related expenses.

Services for NRI Customers

Corporation Bank had services for Non Resident Indians which are now provided by Union Bank. NRI customers could open special accounts, send money home, and invest in deposits.

Remittance services provide for the quick transfer of money into India from abroad. These services are useful for families that receive income from abroad.

Corporation Bank Today

As of 2026 Corporation Bank no longer exists as a separate bank entity, it has fully merged into Union Bank of India. All of its operations will be run under the Union Bank name.

For most customers this has been a positive change. We see them now using a larger banking network, better digital services, and a greater choice of products. If you had an account with Corporation Bank, you are now a customer of Union Bank of India.

Last Updated on April 17, 2026