Sasbo, the South African Society of Bank Officials as it was in 1916, started with members from the National Bank of South Africa Limited, the African Banking Corporation, the Netherlands Bank of South African Limited and the Standard Bank of South Africa Limited.
Over time the union became a niche union operating almost exclusively in the Standard Bank of South Africa Limited and the then Barclays National Bank of South Africa Limited. Sasbo– The Finance Union, as it is now known, having diversified into the finance sector as a whole, has de facto recognition with approximately 20 financial institutions, ranging from banks to insurance companies to pension fund administrators and the like, and has members from nearly 200 financial institutions throughout the country.
The union still has a banking flavour though in that the bulk of the membership is from ABSA, First National Bank and the Standard Bank, with Nedcor running a close fourth.