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Press Release

Union Bank Retains “Outstanding” Community Reinvestment Act Rating

Press contact:
Erika Montelongo  
Mobile: (818) 425-0998

Los Angeles (November 12, 2020) — Union Bank today announced that its operating parent company, MUFG Union Bank, N.A., has again received a rating of “Outstanding” in its most recent Community Reinvestment Act (CRA) Performance Evaluation, which covers the years 2015 to 2018.

The rating reflects MUFG Union Bank’s strong performance on the exam components and the company’s proven commitment to serving low- to moderate-income communities. A copy of the OCC’s report can be found on Union Bank’s website.

“MUFG Union Bank has a long tradition and commitment of building trust with our clients and regulators, and our unwavering dedication to lending to, investing in, and providing service to low- and moderate-income communities across the markets we serve is proof of our vision to be the world’s most trusted bank,” said Steve Cummings, President and CEO for MUFG Americas. “We are proud to have retained the highest possible rating, and pleased that the OCC has noted our unrelenting position. MUFG Union Bank will continue to promote economic growth, sustainable home ownership and neighborhood stability in the communities where we do business.”

The CRA Performance Evaluation notes that MUFG Union Bank provides:

  • Excellent volume of loans originated or purchased within the assessment areas.
  • Excellent geographic distribution of home mortgage and small business loan originations and purchases across all states.
  • Leadership in making community development loans. Community development lending performance had a significant positive impact on the Lending Test rating.
  • An excellent level of qualified community development investments and grants, particularly those that are not routinely provided by private investors, often with the bank in a leadership position.
  • High responsiveness to credit and community economic development needs, including significant use of innovative and complex investments to support community development initiatives. MUFG Union Bank demonstrated leadership in financing affordable housing projects, including construction, take-out, and affordable housing tax credit investments.

Established by Congress in 1977, the CRA encourages banks to meet the credit needs of all segments of the communities where and with whom they do business, including low- and moderate-income populations and individuals. In recent years, MUFG Union Bank has gone over and above CRA requirements, further deepening its commitment to the communities it serves. In 2016, Union Bank issued a series of specific, measurable goals and commitments for community-related investments and activities referred to as the Community Service Action Plan, spanning 2016 to 2020. The bank is on track to meet all of the plan’s goals by the end of the 2020 fiscal year. These goals were carefully selected to address emerging community needs, as follows:

  • $100 billion to support economic development in low-to-moderate-income communities
  • $7 billion in CRA reportable small business lending
  • $1.75 billion in multi-family affordable housing lending
  • $3.5 billion in CRA-qualified mortgage lending
  • $85 million in philanthropic grants and investment
  • $25 billion in environmental financing and investment
  • 15 percent of total bank spending to go to Diverse Business Enterprises (DBEs)
  • $55 million toward Community Development Financial Institution (CDFI) loans 

In recent years, MUFG Union Bank has deepend its commitment to philanthropy in low- to moderate-income communities. In June 2020, Union Bank committed $10 million in philanthropy through a newly created Community Recovery Program aimed at addressing social and racial inequities in the United States. This initiative is specifically focused on building economic stability, including supporting access to capital, entrepreneurship, and job retention and retraining. In March, the company announced that in response to the impact of COVID-19, it will distribute $3 million in donations to help sustain small businesses and social safety net programs, particularly those in low- to moderate-income communities.


About Union Bank

Union Bank is a full-service bank with a rich history of investing in our clients, communities and colleagues throughout the West Coast for more than 150 years. Union Bank provides a wide range of personal and business banking products as well as wealth management services. With nearly 340 branches in California, Oregon and Washington, Union Bank remains committed to serving the needs of its local communities. As a member of the Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest financial institutions, Union Bank holds our clients’ best interests to heart and remains committed to investing in their success.

About MUFG Union Bank, N.A.

As of June 30, 2020, MUFG Union Bank, N.A. operated 348 branches, consisting primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York, and Georgia. We provide a wide spectrum of corporate, commercial, and retail banking and wealth management solutions to meet the needs of our clients. We also offer an extensive portfolio of value-added solutions for clients, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services. With assets of $136.3 billion, as of June 30, 2020, 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 institutions with total assets of approximately ¥341.9 trillion (JPY) or $3.2 trillion (USD), as of June 30, 2020. 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.