Union Bank's McNeely Receives Community Reinvestment Act Award
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In recognition of his longtime commitment to disadvantaged communities
throughout California, The Greenlining Institute recently honored Robert
A. McNeely, executive vice president and manager of corporate community
development for Union Bank of California, with its first Community
Reinvestment Act award. The honor coincides with the 30th
anniversary of the implementation of the CRA, a federal law that
requires banks to provide credit to underserved populations and small
businesses.
Under McNeely’s leadership, Union Bank’s
management has partnered frequently over the years with The Greenlining
Institute and the California Reinvestment Coalition as part of the bank’s
commitment to the CRA and most recently in the development of Union Bank’s
community reinvestment pledge. From 2006 to 2016, the bank will reinvest
6.5 percent of its assets into communities throughout California –
which total more than $3 billion per year –
and will contribute 2 percent of its net profits annually to charities
and nonprofit organizations.
"Bob has exhibited tremendous leadership in
helping Union Bank of California empower disadvantaged communities
across California for decades,” said Robert
Gnaizda, general counsel for The Greenlining Institute. "We
value his dedication and look forward to Union Bank’s
continued support of our efforts to improve access to credit for our
underserved working families and individuals.”
The Greenlining Institute is a multi-ethnic, nonprofit public policy and
advocacy organization that promotes economic development in California’s
low-income and minority communities. Through a coalition of 38 minority
business associations and community-based nonprofit organizations, the
organization brings together business, government and community
leadership to provide solutions to California’s
economic development issues.
"We are fortunate to have someone with Bob’s
strengths lead us in our CRA efforts and with our community development
initiatives,” said Union Bank President and
CEO Masaaki Tanaka. "Union Bank of California
has a proud history of using our resources to gain the maximum impact
for the communities we serve, and I’m pleased
to call Greenlining a partner in these endeavors.”
Based in San Francisco, UnionBanCal Corporation (NYSE: UB) is a bank
holding company with assets of $57.9 billion at March 31, 2008. Its
primary subsidiary, Union Bank of California, N.A., had 334 banking
offices in California, Oregon and Washington, and 2 international
offices at March 31, 2008. The company's Web site is located at www.unionbank.com.
