MUFG Union Bank Foundation Commits $225,000 to Local Initiatives Support Corporation
Grant will support training program to develop talent in the field of affordable housing
LOS ANGELES, Dec. 20, 2019 /PRNewswire/ -- Union Bank today announced it has committed $225,000 to help fund the Los Angeles-based Housing Development Training Institute (HDTI), which is part of Local Initiatives Support Corporation (LISC). The grant will be used for a training curriculum to develop and equip the next generation of affordable housing project managers.
HDTI is LISC's signature capacity-building initiative that trains affordable housing leaders with additional professional development. The goals for this initiative include:
- Building capacity of affordable housing partners by investing in emerging housing development talent pools.
- Advancing best practices in affordable housing development to ensure that organizations develop quality, well-financed and sustainable projects.
LISC will administer the two-week "HDTI Fundamentals" training program for affordable housing developers from across the state. The trainings will take place in fall 2020 and spring 2021 with two additional hands-on trainings in spring and summer 2021. LISC will also administer "HDTI Advanced" in fall 2021, providing more in-depth and advanced training in a key technical skill and finance structure area: tax credits and tax exempt bonds for multifamily rental developments.
Together with residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families.
"Developing and rehabilitating affordable housing is a complex undertaking," said MUFG Union Bank Foundation Chief Operating Officer Kathy Patoff. "We are proud to support this high caliber training that helps equip the next generation of leaders with the skills needed to address one of the most pressing issues in our marketplace."
"Affordable housing has always been the cornerstone of LISC's community development strategy," said LISC Executive Director Tunua Thrash-Ntuk. "This grant will allow us to invest in training and development of the next generation of practitioners, advocates and leaders. Their expertise will continue to be vital to effectively address the affordable housing crisis in the Los Angeles region. We are pleased that MUFG Union Bank shares in our vision to continue to develop talent in this field."
About Union Bank
Union Bank is a full-service bank with a rich history of investing in our clients, communities and employees throughout the West Coast for more than 150 years. Union Bank provides a wide range of personal and business banking products as well as wealth management services. With more than 350 branches in California, Oregon and Washington, Union Bank remains committed to serving the needs of its local communities. As a member of the Mitsubishi UFJ Financial Group (MUFG), one of the world's largest financial institutions, Union Bank holds our clients' best interests to heart and remains committed to investing in their success.
About MUFG Union Bank, N.A.
As of September 30, 2019, MUFG Union Bank, N.A. operated 350 branches, consisting primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York, and Georgia, as well as 22 PurePoint ® Financial Centers. We provide a wide spectrum of corporate, commercial, and retail banking and wealth management solutions to meet the needs of our clients. We also offer an extensive portfolio of value-added solutions for clients, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services. With assets of $134.7 billion, as of September 30, 2019, 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: MUFG), one of the world's largest financial organizations with total assets of approximately ¥314.5 trillion (JPY) or $2.9 trillion (USD)¹, as of September 30, 2019. 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=¥107.9 (JPY) as of September 30, 2019
Press contact:
Erika Montelongo
(818) 746-4949
[email protected]
SOURCE MUFG Union Bank, N.A.
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