United Bank receives award

Published 12:04 am Wednesday, September 30, 2015

United Bank has been named a recipient of the 2015 Business Enterprise Award (BEA) by the U.S. Treasury Department.

The award was presented by the treasury’s Community Development Financial Institution (CDFI) Fund. The award is presented to FDIC-insured depository institutions that successfully demonstrate an increase in their lending, investing or service activities in distressed communities.

The award was the fifth such award for UB in as many years.

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“We are honored that the Treasury Department would recognize our ongoing commitment to make a positive impact on our local communities, families and small business,” United Bank President and CEO Robert R. Jones III said. “Today’s award affirms the importance of hometown banking and of our efforts to ‘do well by doing good.’” I am proud that our employees live this mission in their daily work across our markets.”

United Bank is one of 83 banks that earned the honor. Those recognized consistently invest in areas where at least 30 percent of the population lives at or below the national poverty level, and where the unemployment rate is at least 1.5 times the national average.

Among the criteria for the annual BEA award are providing affordable housing loans, small business loans, small consumer loans and community development opportunities to distressed areas as well as providing access to services, such as financial education, checking and savings products and affordable check cashing.

The award will help United Bank’s CDFI team continue to create products and services that positively impact consumers and small businesses in low to moderate income areas.

Some recent examples include UB’s Credit Advantage Small Dollar Loan program, its secured Visa credit card, and its $12 million loan fund for small business financing, among others.

For more information on the U.S. Treasury’s CDFI Fund or the BEA award, visit www.cdfifund.gov.