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UNION BANK AND U.S. COMMERCIAL SERVICE SIGN STRATEGIC PARTNERSHIP
For Immediate ReleaseContact:
LOS ANGELES, CA, June 4, 2013 – Union Bank, N.A. and the U.S. Commercial Service of the U.S. Department of Commerce’s International Trade Administration today signed a Memorandum of Understanding (MOU) to increase awareness in the U.S. business community, particularly among small and medium-sized businesses, about exporting and the tools and resources the organization provides to help them succeed.
“We’re pleased to welcome Union Bank as a partner in our efforts to strengthen the U.S. economy and support local jobs through expanding U.S. exports,” said Under Secretary of Commerce for International Trade Francisco Sanchez. “With more than 95 percent of potential customers living outside U.S. border, it’s imperative that American companies of all sizes consider the benefits of selling their products abroad.”
“We are honored to be partnering with the U.S. Commercial Service for the promotion of global trade and are confident that this strategic partnership will add value not just for our bank but also for our customers,” said Vice President and Global Trade Manager Thomas Burr. “We intend to leverage this partnership to enable our bankers to provide a more holistic approach to their relationships with our exporting customers by bringing the resources of the US Commercial Service together with our financing expertise.”
Under the MOU, Union Bank, N.A. and U.S. Commercial Service’s network of worldwide offices will work together on marketing, education programs and events leveraging both entities’ expertise to help make U.S. businesses—and particularly small and medium-sized firms—more export savvy. Joint activities may include building awareness through outreach at trade shows, direct mail campaigns and online registration for resource support.
In 2010, President Obama announced the National Export Initiative (NEI) with the goal of doubling U.S. exports by the end of 2014. The partnership supports this goal by educating U.S. exporters, particularly small- and medium-sized companies, about the benefits exporting and expanding their exports to additional markets, and the public and private sector resources to assist them. Union Bank, N.A., joins several of the U.S. Commercial Service’s Strategic Partners who have connected more than 1,500 companies to federal export assistance.
About UnionBanCal Corporation & Union Bank, N.A.
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $97 billion at March 31, 2013. 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 443 branches in California, Washington, Oregon, Texas, Illinois, and New York as well as two international offices, on March 31, 2013. 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.
About U.S. Commercial Service
The U.S. Commercial Service is the trade promotion arm of the U.S. Department of Commerce’s International Trade Administration. U.S. Commercial Service trade professionals in more than 100 U.S. cities and in more than 70 countries help U.S. companies get started in exporting or increase sales to new global markets. Visit www.trade.gov/cs to learn more.