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Press Release

Elizabeth Van Benschoten Joins Union Bank as Market Manager for Community Development Finance in Northern California

Press Contact:
Debbie Whiteley

SAN FRANCISCO (June 5, 2018) - Union Bank today announced that Elizabeth Van Benschoten has joined its Real Estate Industries group as Managing Director and Market Manager for Community Development Finance (CDF) in Northern California. She is responsible for managing the Northern California CDF team in its efforts to originate high quality, profitable debt and equity transactions for affordable housing that will assist the bank in meeting its Community Reinvestment Act (CRA) obligations. Van Benschoten is based in Walnut Creek, California, and reports to Jonathan Klein, Managing Director and Head of Originations for Community Development Finance.

Union Bank has been providing community development financing solutions for more than 20 years. Its highly specialized CDF team and centralized leadership enable it to offer its clients a nimbleness and ease of execution throughout the finance process. The group is committed to being a reliable partner through market movements.

"We are very excited to welcome Elizabeth to the Union Bank team," said Klein. "Her proven leadership capabilities and extensive background in community development finance will help reinforce our position as a trusted partner to the most successful affordable housing real estate developers in the United States. Elizabeth understands how important it is that we deliver best-in-class service to our clients who are doing such important work within our communities."

Van Benschoten previously served as President of Bridge Impact Capital, the community development financial institution (CDFI) affiliate of Bridge Housing Corporation, a leading West Coast affordable housing real estate developer. Prior to that, she held several positions at Bank of America Merrill Lynch, including Senior Vice President, Senior Client Manager for the Healthcare, Education and Institutions Group and Manager of the National Debt Products development team for the Community Development Banking Group. Most recently, she was an independent consultant serving multiple clients, including the Oakland Fund for Public Innovation where she was the Acting Director.

"I chose to join Union Bank because of its stellar reputation for being a committed partner with specialized financial solutions that can help address the housing affordability crisis," said Van Benschoten. "I look forward to working with the experienced team, our clients, and our communities to increase the supply of much needed quality, affordable housing in Northern California."

About MUFG Union Bank, N.A.

As of March 31, 2018, MUFG Union Bank, N.A. operated 355 branches, comprised primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York and Georgia, as well as 21 PurePoint Financial Centers and one international office. We provide a wide spectrum of corporate, commercial and retail banking and wealth management solutions to meet the needs of customers. We also offer an extensive portfolio of value-added solutions for customers, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services. With assets of $120.9 billion, as of March 31, 2018, MUFG Union Bank has strong capital reserves, credit ratings and capital ratios relative to peer banks. MUFG Union Bank is a proud member of the Mitsubishi UFJ Financial Group (NYSE: MUFG), one of the world’s largest financial organizations with total assets of approximately ¥306.9 trillion (JPY) or $2.9 trillion (USD)1, as of March 31, 2018. The corporate headquarters (principal executive office) for MUFG Americas Holdings Corporation, which is the financial holding company, and MUFG Union Bank, is in New York City. The main banking office of MUFG Union Bank is in San Francisco, California.

(1) Exchange rate of 1 USD=¥106.2 (JPY) as of March 30, 2018