California United Bank Expands Nonprofit Banking Relationships
Banking nonprofit organizations evolves into a key part of California United Bank's expertise
LOS ANGELES--(BUSINESS WIRE)-- California United Bank ("CUB" or "the Company"), a subsidiary of CU Bancorp (NAS: CUNB) , today announced new business relationships with two Los Angeles nonprofit organizations, the LA Conservation Corps ("LA Corps") and T.H.E. (To Help Everyone) Clinic.
"Many banks understand business, but not many understand the nonprofit business," commented LA Corps Executive Director, Bruce Saito. "The team at CUB has a strong grasp of funding cycles critical to nonprofit lending and they really invested the time to learn the intricacies of our business. We have been extremely impressed with California United Bank."
California United Bank's financing will assist LA Corps as it continues its important role of providing job training and a high school diploma to young people as they perform valuable services to our communities such as graffiti removal, recycling and trail maintenance. CUB's loans to T.H.E. Clinic will provide working capital needed to grow, as well as funds to complete construction of a new facility. T.H.E. Clinic's new facility will ensure they can continue to accomplish their mission of providing high quality primary care to residents of Los Angeles, especially those who are underserved.
"We take a lot of pride in our nonprofit lending as we know it makes a substantial difference to how these organizations are able to serve our community," noted CUB Senior Vice President and Nonprofit Banking Specialist, Kim Defenderfer. "We work hard to understand each of our client's needs and funding patterns to ensure each organization is in the best possible position to accomplish its objectives."
About CU Bancorp and California United Bank
CU Bancorp is the parent of California United Bank, which was founded in 2005 and is the largest independent bank headquartered in the San Fernando Valley. California United Bank provides a full range of financial services, including credit and deposit products, cash management, and internet banking to businesses, nonprofits, entrepreneurs, professionals and investors throughout Southern California from offices in the San Fernando Valley, the Santa Clarita Valley, the Conejo Valley, Simi Valley, Los Angeles, South Bay, and Orange County. To view CU Bancorp's most recent financial information, please visit the Investor Relations section of the Company's Web site. Information on products and services may be obtained by calling 818-257-7700 or visiting the Bank's Web site at www.cunb.com.
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KEYWORDS: United States North America California
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