Our Bank
United Bank of Philadelphia, (“Bank”) is a proud contributor to the economic fabric of this great City. The chartering of the Bank in 1992 by the Commonwealth of Pennsylvania, Department of Banking, brought together the rich diversity of leadership that had and continue to have a tremendous stake in this region. They worked together with the visionary founders of United Bank of Philadelphia to raise capital for the launching of this minority-owned and controlled bank with a mission of providing financial services to individuals and organizations that had been traditionally underserved by the financial sector. We are pleased to report that the Bank continues the rich tradition of economic development while celebrating 15 years of dedicated service to this region. We appreciate the support of our investors and current client base. As we move forward, our goal is to create new relationships that have a common objective of building and sustaining urban communities. We know firsthand that Building Stronger Communities requires bold leadership, collaboration and innovation.
Leadership
The Bank has assets totaling $73 million, twenty-seven (27) ATM locations, and three full service branch offices located in densely populated growth communities in Philadelphia. The Bank has achieved profitability and the primary goal today is to grow its assets by expanding current relationships while acquiring new ones. The Bank’s commitment to community revitalization is demonstrated by its consistent achievement of ratings of Outstanding by the Federal Reserve Bank of Philadelphia in community reinvestment (CRA). The Bank’s leadership is very proud of this recognition. The Bank was the first bank in the Commonwealth of Pennsylvania to become a certified community development financial institution (CDFI) and is the only commercial bank in Philadelphia to hold that designation. Additionally, the Bank is certified by the Minority Supplier Diversity Council (MSDC).
Collaboration
Despite a period of enormous economic growth, not everyone has benefited equally. Wealth disparities continue to exist and the growth of ethnic minorities throughout the region represent new challenges and opportunities. We believe that through effective leadership, collaboration and innovation, change can occur and everyone can benefit. The Bank’s commitment is simple; we want to make an impact in the following areas:
- Small Business Owners – The Bank will continue to make small businesses its priority. The impact they have on employment is an enticement for the Bank to ensure that they have access to capital and affordable banking services.
- Affordable Housing Developers – Homeownership is essential to economic prosperity. The Bank will continue to do its part to provide financing for construction and rehabilitation of affordable housing throughout the City.
- Community Service Providers – Non-Profit organizations keep communities going. The Bank is committed to providing financing options to ensure that these services continue to support families that need a helping hand.
- Individuals – Everyone should have access to affordable banking services, simply put- checking and savings accounts. These basic services can move individuals
and families out of despair to empowerment.
- Corporations & Institutions – The Bank can continue to impact community and economic development with increased deposits and other fee income relationships from the corporate sector. As the Bank’s deposit base grows, its capacity to lend to persons in the communities increases. Again, proving that strong collaborations across socio-economic lines will create prosperity and vitality in the region.
Innovation
United Bank’s full array of products and services are designed to give customers the tools they need to enjoy financial freedom. The Bank is demonstrating its commitment to building wealth within the communities by upgrading its branch offices to state of the art facilities. In addition, we provide banking convenience through on-line banking and “Swift Blue Deposit,” our new remote deposit capture product that let’s you bank without leaving your office location.
Finally, Philadelphia’s founding father William Penn envisioned a “green country town”, a wholesome place to live, to conduct business and to support the public welfare. We see a “great metropolis” with extraordinary Blue horizons abounding with tremendous opportunities. We invite you to consider United Bank of Philadelphia, a hometown bank, as one of your banking partners thus fostering creative partnerships and practices that are necessary to ensure Philadelphia becomes the Next Great City!