MUFG Union Bank Foundation Makes Multi-year Grants to 57 Nonprofit Organizations

LOS ANGELES, Aug. 22, 2017 /PRNewswire/ -- MUFG Union Bank, N.A., today announced it has awarded $3.345 million in multi-year funding to 57 nonprofit organizations that focus on expanding access to affordable housing for multi-cultural, low and moderate income communities. The organizations that were selected will each receive an estimated $20,000 over three years (2017- 2019) contingent upon projected and actual annual performance.

Grants were allocated based on the following criteria:

• Conserving or expanding affordable housing
• Emergency assistance
• Innovation and regional solutions
• Integration of energy efficiency and environmental sustainability components

"Affordable housing is one of the most important issues facing the communities we serve," said Julius Robinson, the bank's Head of Corporate Social Responsibility.  "Multi-year operating support allows our partner organizations to focus more time engaging in problem solving and less time worrying about fund raising. We hope our actions will inspire others to join us in making multi-year investments that will address the housing affordability crisis in this country."

"Housing is an urgent and complex problem requiring innovative solutions. Stable, flexible funding can be a catalyst for exploring and developing new approaches to better serve individuals and families who are facing hardship or are unable to keep-up with rising housing costs," said Kathy Patoff, MUFG Union Bank Director and Chief Operating Officer of the MUFG Union Bank Foundation.

The Foundation established the Expanding Housing Opportunities Program (EHOP) in the spring of 2017.  The funding is targeted towards organizations that are supporting home ownership in California, New York and Washington State.

"We are very pleased to have such generous and consistent support from the MUFG Union Bank Foundation.  This truly shows a commitment to supporting the non-profit sector in a stable way, and advancing affordable housing opportunities for those who need them the most," said Gloria Bruce, Executive Director, East Bay Housing Organizations.

For fiscal year 2016 (April 1, 2016 to March 31, 2017), the MUFG Union Bank Foundation continued its efforts to address a range of affordable housing issues and through its support served as a catalyst to help achieve the following outcomes:

• Supported the development of 6,681 housing units available for purchase and rental
• 766 individuals were able to purchase affordable housing
• 70,155 individuals achieved housing stability through rental housing programs
• Helped provide 132,410 bed-nights at shelters for the homeless

The MUFG Union Bank Foundation ("The Foundation") is a nonprofit public benefit corporation that serves as an agent for charitable contributions made by MUFG Union Bank, N.A. Since its creation in 1953, The Foundation has supported the bank's commitment to help meet the needs of the communities that it serves. Its mission is to make philanthropic investments that expand access to economic opportunity in low- and moderate-income communities especially in the areas of affordable housing, community economic development, education, human services, and the environment.  

Below is a list of the organizations that were awarded three-year funding:

About MUFG Union Bank, N.A.
MUFG Union Bank, N.A., is a full-service bank with offices across the United States.  We provide a wide spectrum of corporate, commercial and retail banking and wealth management solutions to meet the needs of customers.  We also offer an extensive portfolio of value-added solutions for customers, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services.  With assets of $116.7 billion, as of June 30, 2017, 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: MTU), one of the world's largest financial organizations with total assets of approximately ¥304.2 trillion (JPY) or $2.7 trillion (USD)¹, as of June 30, 2017. 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.

¹ Exchange rate of 1 USD=¥112.0 (JPY) as of June 30, 2017

About MUFG Americas Holdings Corporation
Headquartered in New York, MUFG Americas Holdings Corporation is a financial holding company and bank holding company with total assets of $150.6 billion at June 30, 2017. Its main subsidiaries are MUFG Union Bank, N.A. and MUFG Securities Americas Inc. MUFG Union Bank, N.A. provides an array of financial services to individuals, small businesses, middle-market companies, and major corporations. As of June 30, 2017, MUFG Union Bank, N.A. operated 361 branches, comprised primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York and Georgia, as well as 16 PurePoint Financial Centers and two international offices. MUFG Securities Americas Inc. is a registered securities broker-dealer which engages in capital markets origination transactions, private placements, collateralized financings, securities borrowing and lending transactions, and domestic and foreign debt and equities securities transactions. MUFG Americas Holdings Corporation is owned by The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Mitsubishi UFJ Financial Group, Inc. The Bank of Tokyo-Mitsubishi UFJ, Ltd. is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc., which is one of the world's leading financial groups. Visit www.unionbank.com or www.mufgamericas.com for more information. 

©2017 MUFG Union Bank, N.A. All rights reserved. Member FDIC.

SOURCE MUFG Union Bank, N.A.

Related Links

http://www.unionbank.com