Urban Partnership Bank to Combine Operations with Providence Bank & Trust

Urban Partnership Bank-Providence Bank & Trust Acquisition Announcement

 

 CUSTOMER/INFLUENCER FAQs


Urban Partnership Bank and Providence Bank & Trust have announced that we have reached an agreement for Providence Bank & Trust to acquire Urban Partnership Bank and plan to combine operations.

Urban Partnership Bank has invested a significant amount of time in selecting the right partner for this agreement to expand our customer service and product offerings.

As you know, Urban Partnership Bank has worked diligently for the past eight years to serve our community. Since Urban Partnership Bank was founded, our impact has been significant. We have restructured more than $1 billion in loans and originated more than $475 million since our inception. This has resulted in creating more than 6,000 jobs and supported the building of 6,385 housing units, with 68% defined as affordable housing. Without you, we would not have been able to accomplish all that we have.

The investment made by Providence Bank & Trust not only demonstrates its commitment to growing our network, but it also reflects the growing economic vibrancy of the areas in which we serve.

We understand you might have questions about this acquisition. We are in the process of coordinating with Providence Bank & Trust to make this transition as seamless as possible. In the meantime, please take note of the following:

  • There will be no impact on loans currently being processed.
  • At this time, account numbers and routing numbers will stay the same.
  • Your transfers and direct deposits will continue without interruption.
  • You should continue to use your Urban Partnership Bank Visa ® Debit Card and checks. All surcharge-free ATMs will continue to be accessible at this time.

Through this new relationship, we will be able to offer new services, such as residential lending, wealth and trust services and commercial equipment leasing, as well an improved online banking platform and increased lending options for both individual and commercial customers.

We know you will have many questions, and our staff is available to answer them and continue to serve you. For more information, please refer to our FAQ section below, call us at 800.905.7725, or contact your branch manager for more details.

 


 

Customer/Influencer FAQ

I’ve been banking with Urban Partnership Bank for a number of years. Will my account number and services change?

At this time, your account numbers and routing number will remain the same.

  • Your transfers and direct deposits will continue without interruption.
  • You should continue to use your Urban Partnership Bank Visa ® Debit Card and checks.

Urban Partnership Bank’s commitment is to ensure the integration with Providence Bank & Trust will only enhance your banking experience. Urban Partnership Bank will communicate regularly as the integration is underway and you will be notified well in advance of any change that occurs.

Will I still have access to the same surcharge-free ATMs?

All surcharge-free ATMs will continue to be accessible at this time. More information about surcharge-free ATM networks will be available as the merger is finalized in early 2019.

What does this acquisition mean for my pending loan?

There will be no impact on loans currently processed.

Will the name of my bank change?

Yes. In early 2019, the name of your bank change to Providence Bank & Trust.

What are the benefits of this relationship to Urban Partnership Bank customers?

Urban Partnership Bank decided to combine operations with Providence Bank & Trust for its strong commitment to customer service and its willingness to put customers first. You will experience many benefits, including continued investment in the community, expanded services such as a larger branch network, a well-capitalized institution, residential lending, commercial leasing, and trust and wealth services. Urban Partnership Bank is confident that your expectations will not only be met, but exceeded.

Why did Urban Partnership Bank seek this acquisition?

In this agreement, Urban Partnership Bank recognized a tremendous opportunity to build upon its accomplishments and ensure that it could continue to fulfill its mission and serve customers at an even higher level, including expanded online banking and increased lending options. Combining operations with Providence Bank & Trust will ensure that our customers’ and partners’ needs are not only met but exceeded.

What makes Providence Bank & Trust the best bank to partner with? Why should I bank with them?

Providence Bank & Trust is committed to continuing Urban Partnership Bank’s mission to serve customers, building vibrant neighborhoods, promoting economic and environmental sustainability, and creating long-term success for the communities in which it operates. Additionally, this agreement will enhance the services that our customers receive, including a larger, stronger banking network with increased access to an array of enhanced services, including: access to new banking services, an improved online banking platform, and broader lending for commercial customers and small businesses.

This acquisition will enhance the services that customers receive, including a larger, stronger banking network with access to new banking services, an improved online banking platform, and broader lending for commercial and small business customers. Additionally, Providence Bank & Trust has been a rapidly growing, stewardship-based bank. Founded in South Holland, Illinois—and now with $630 million in assets and 12 locations serving Cicero, Frankfort, Oak Lawn, Orland Park, Palos Heights, Shorewood, South Holland, Villa Park and Wheaton in Illinois, as well as Dyer/St. John, Munster and Schererville in Indiana—Providence Bank & Trust serves its customers as an involved community bank. Providence Bank & Trust is committed to improving lives and services in the communities it serves.

How does Providence Bank & Trust handle customer service issues? Will there be fast response times for customers?

Providence Bank & Trust prides itself on high-quality customer service and is committed to ensuring that issues are handled properly and efficiently.


Urban Partnership Bank Chatham Location Closing

 

Urban Partnership Bank has announced that it will be moving operations at its Chatham branch on Saturday, January 26, 2019 at 1 pm CT to its Greater Grand Crossing branch located just one mile away.

Over the past several years, the building has been underutilized, and Urban Partnership Bank has been negotiating with a potential buyer who plans to purchase the building in early January. The potential buyer has plans to eventually use the entire building and will enhance and infuse the Chatham community with new jobs and revenue. Having the building at full occupancy will also result in new vibrancy for the surrounding area.

Our customers will continue to have several options for their banking needs:

  • The Greater Grand Crossing location is located just one mile away at 7801 S State Street, with easy access via CTA on either the number 79 bus or the Red line. 
  • The Chatham Motor branch is located across the street at 7949 S Cottage Grove Ave. has full-service capabilities along with drive-through access, will remain open
  • The Bronzeville location is nearby, located at 101 East 35th Street (35th and South Michigan), with access via CTA with either number 4 bus or the Green line.
  • Customers can use any of our 50,000 surcharge free ATMs or utilize our online banking, treasury management and bank-by-phone options to for their banking needs.

Employees from the Chatham location will continue to service our retail branch network. This will ensure that our customers can continue to work with the staff that they know, and we will have more than enough capacity to continue great customer service.

The Greater Grand Crossing branch will be a Center of Influence when it transitions to Providence Bank & Trust, which we announced this summer. Providence Bank & Trust strategically places its senior leadership across its branch network in branch locations to ensure local involvement and commitment.

We know you will have questions, and our staff is available to answer them and continue to serve you. For more information, please refer to our FAQ page. Please call us at 773-420-5050 or toll-free at 800-905-7725 or contact your branch manager for more details.

Our goal is to provide the responsible financial products our customers and the under-banked need to create jobs, promote small businesses, support nonprofits and other opportunities that build better lives and vibrant neighborhoods.

- William Farrow
Former President and CEO, Urban Partnership Bank