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UNION BANK RECEIVES OVERALL “SATISFACTORY” RATING FROM OFFICE OF THE COMPTROLLER OF THE CURRENCY

 

Bank Receives “Outstanding” Ratings in the Investment and Service Test Areas

 

For Immeditate Release

 

Contacts:

Jane Yedinak
(415) 765-3241
jane.yedinak@unionbank.com

 

Daniel Weidman
(213) 236-4050
daniel.weidman@unionbank.com

 

 

SAN FRANCISCO, CA, February 6, 2013 - The Office of the Comptroller of the Currency (OCC) has given San Francisco-based Union Bank, N.A., an overall “Satisfactory” rating under the terms of the Community Reinvestment Act (CRA), which OCC-regulated institutions have been required to follow since the law was enacted in 1977. This rating exemplifies Union Bank’s full compliance with the CRA regulations. Within this same exam, the bank received “Outstanding” grades on its community investment test and service test, which represent 50 percent of the exam. This 2012 OCC exam period covered January 2009 through December 2011.

 

In the 2012 OCC Exam, Union Bank was recognized as a supporter of small business through its loans and partnerships with organizations that help develop small businesses. The OCC recognized the bank’s leadership in community development lending. It was noted that Union Bank has a good distribution of branch offices that makes the bank’s products and services readily accessible to geographies and individuals of different income levels. The bank was recognized for excellent community development services, which included employee involvement with community organizations through volunteerism, participation as Board members, financial education, financial literacy training, technical assistance, and fundraising efforts.

 

The CRA was established in 1977 by Congress to encourage banks to meet the credit needs of all of its communities, whether low, moderate or high income neighborhoods. To read the Union Bank OCC CRA Exam results click here

 

Union Bank Community Commitment
Through concerted efforts to assist low- and moderate income customers, as well as extensive volunteer and philanthropic activity, Union Bank is committed to serving as a responsible neighbor and community partner.

 

Community Development Lending
The Community Development Finance (CDF) division leads Union Bank’s multi-family affordable housing lending program, which includes loans and equity investments to affordable housing developers and other organizations that provide a range of services including homeless shelters, support to the developmentally disabled community, and life skills assistance. In 2012, CDF provided $437 million in financing for 25 projects serving a total of 5,900 residents.

 

Supplier Diversity
Union Bank’s Supplier Diversity Office ensures that the vendors providing the bank with products and services include businesses majority-owned by members of a minority group, women, or service-disabled veterans, known as diverse business enterprises. In 2012, the bank supported diverse suppliers with 16.85% of its discretionary spend – totaling $120 million.

 

Community Service and Investment
Encouraging and enabling community service through employee volunteerism is an ongoing commitment at Union Bank. In 2012, the bank’s workforce donated more than 75,000 hours of volunteer service, which represents a 40% increase compared with the prior year. In 2012, the bank’s charitable investment in local communities totaled more than $12.6 million, which included grants, contributions, and sponsorships to help finance the efforts of nonprofit organizations within the bank’s geography.

For more information about Union Bank’s involvement in the communities that the bank serves, visit www.unionbank.com/community.

 

About UnionBanCal Corporation & Union Bank, N.A.

Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $97 billion at December 31, 2012. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operated 447 branches in California, Washington, Oregon, Texas, Illinois, and New York as well as two international offices, on December 31, 2012. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE:MTU), one of the world's largest financial organizations. Visit www.unionbank.com for more information.