Investing in Communities
Commitment to Japanese American clients, communities
remains steadfast amid Union Bank sale agreement
The announced agreement that U.S. Bank is acquiring MUFG Union Bank will bring changes, but one thing that remains steadfast is the bank’s commitment to serving the Japanese American community.
“Our Union Bank colleagues have been serving the Japanese American community for decades, dating back to immediately after Japan returned to the international community after World War II,” said Kazuo “Kaz” Koshi, Executive Chairman, Board of Directors – MUFG Americas Holdings Corp. and MUFG Union Bank, N.A.
“Our front-line branch teams and our Japanese language call center will transition to U.S. Bank and continue serving this important community for many years to come,” he said.
In fact, Koshi said, combining with U.S. Bank will further enhance the client experience for all clients, including Japanese Americans, as it strengthens the products, services and digital capabilities that will be available. MUFG Bank will hold a significant minority ownership in U.S. Bank and is not exiting the U.S. market.
Union Bank has for many years been actively engaged in the Japanese American community through the MUFG Union Bank Foundation’s philanthropic work.
Through the foundation and other programs, the bank provides support to 130 Japanese American organizations within the MUFG Union Bank footprint. The bank’s $10 million Community Recovery Program also is used in part to support initiatives that help vulnerable Japanese American populations and small businesses affected by the Covid-19 pandemic.
“We know how much our clients value the connections we have with the Japanese American community,” Koshi said. “U.S. Bank recognizes the value of these relationships and will continue this legacy.”
Written by Erik Battenberg