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Community Involvement

Community Service

Community Service Action Plan Commitment

Union Bank's Board of Directors approves the bank's Community Service Action Plan (CSAP), which is used to ensure the bank's compliance with Community Reinvestment Act requirements. The bank also meets semiannually with community groups to discuss the bank's performance.

The CSAP targets seven key areas for support and services: affordable housing, banking services, community outreach, corporate contributions, low-income consumer loans, small business loans and assistance, and supplier diversity.

 

Key Areas Union Bank Actions
Affordable housing Supports organizations that provide basic shelter for low- to moderate-income individuals; finances construction, purchase, refinance, and rehabilitation of low-income housing units
Banking services Provides special services to help low-income individuals manage funds, including: low-cost checking and savings and government check cashing services 
Community outreach Offers community outreach efforts, including:
  • Branch involvement in local community activities
  • Communication between bank and community leaders
  • Promotion of small business lending to minorities and low-income individuals
Corporate contributions Annually awards a total of 2 percent of the bank's after-tax earnings to nonprofits through the bank and foundation
Low-income consumer loans Makes loans available to applicants with gross family income within guidelines established by Housing and Urban Development
Small business loans and assistance Makes Small Business Administration-guaranteed loans to qualified borrowers; issues credit to minority-, disabled veteran- and woman-owned small businesses
Supplier diversity Procures goods and services from minority-, service-disabled veteran- and woman-owned vendors
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CRA Commitment Document Description

Community Service

Union Bank’s Commitment to the Community

Union Bank's commitment to corporate citizenship is reflected in our 10 Year Commitment updated May 2012. This commitment was originally implemented in 1996 and renewed for another 10 years in 2005. Also included within the document are additional commitments Union Bank made in May 2012 in connection with our purchase of Santa Barbara Bank & Trust. Although there have been modifications over the years, Union Bank’s community focus remains unchanged.
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Community Service Action Plan Results

Community Service

Community Service Action Plan Results

Union Bank has committed to invest a minimum of 5.2% of its assets annually in Community Reinvestment Act (CRA)-related loans and activities through mid-2015, with an aspirational target of 6.5%.

Union Bank provided a total of nearly $6.5 billion in CRA-related loans and activities in 2012 — equating to 7.9% of average annual assets, which represents 121% of a 6.5% aspirational target and 151% of our 5.2% commitment for the year. A breakdown of the 2012 action plan results follows:
  • $2.0 billion in single family lending###DISCLAIMER:2_0 Community Service Action Plan Results###
  • $1.84 billion in small business and farm financing###DISCLAIMER:2_0 Community Service Action Plan Results###
  • $870.1 million in multifamily housing loans###DISCLAIMER:2_0 Community Service Action Plan Results###
  • $805.2 million in CRA investments outstanding
  • $461.1 million in consumer loans to low- and moderate-income borrowers
  • $362.5 million in loans to nonprofits
  • $120.1 million in purchasing from minority business enterprise vendors
  • $12.7 million in social investments
From July 2005 through 2012, Union Bank funneled $28.6 billion into community investments###DISCLAIMER:2_0 Community Service Action Plan Results###, which includes the following:
  • $11.9 billion in small business and small farm financing
  • $4.0 billion in consumer loans to low- and moderate-income borrowers
  • $3.3 billion in loans to nonprofits
  • $3.1 billion in multifamily housing loans
  • $2.3 billion in single-family housing loans
  • $805 million in CRA investments outstanding
  • $777 million in purchasing from minority business enterprise vendors
  • $97 million in social investments
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