Urban Partnership Bank Expands Products

To better serve the needs of its customers, Urban Partnership Bank announced a major enhancement to its line of consumer financial services and products. In addition to introducing a range of new benefits, the bank will reduce or eliminate monthly fees on some offerings and roll out a number of new products designed specifically for college students, nonprofit organizations, small businesses and the underbanked.

These changes represent the culmination of an extensive bank study, based on customer surveys and interviews that focused on the financial needs of its key customer segments and the way the bank’s products and services aligned with those needs.

"Our goal is to be the bank of choice for customers in urban neighborhoods," said Daryl Newell, Director of Consumer Banking. "And a big part of that is delivering the right mix of affordable, responsible products and services to meet their individual needs. It’s another way we’re working to make a difference every day," Newell added.

Enhancements to the bank’s Personal Checking products include:

  • A lower monthly fee of $5 which can be waived with Direct Deposit on its Urban Access Checking that includes a free Visa® Check Card.
  • Partnership Checking, the bank’s most popular checking product, now includes a monthly fee waiver for seniors, a free first order of checks and discounts on Money Orders and Official Checks. Interest-earning Partnership Plus Checking now pays interest on all funds and offers free overdraft transfers and reduced fees on safe deposit boxes.
  • With the new Student Advantage Checking account, qualified college students can enjoy four years of free, unlimited check writing, a free Visa® Check Card and other free and discounted services.

Urban Partnership Bank also unveiled changes to its Business Checking products to increase their value to small business customers:

  • Urban Business Checking, a new product, gives small business owners greater financial flexibility, including combined transaction and cash deposited waivers, free check images and multiple ways to avoid a monthly fee.
  • Individual proprietors and nonprofit organizations can choose between two new business-oriented checking products, both paying interest on all balances.
  • Business owners also will be able to open personal interest-bearing Partnership Plus Checking accounts with no monthly fee.

About Urban Partnership Bank:

Urban Partnership Bank is an FDIC-insured, full-service community development bank with $1.3 billion in assets that was established when it acquired the deposits and some of the assets of ShoreBank from the FDIC in August of 2010. Its mission is to make a difference every day: building vibrant urban neighborhoods, promoting economic and environmental sustainability and creating long-term success for its communities and the bank.

Urban Partnership Bank works together with individuals, small businesses, nonprofits, foundations, and faith-based organizations in underserved and distressed urban communities in Chicago, Cleveland and Detroit to deliver quality financial services that often cannot be obtained elsewhere. It strives to catalyze economic and environmentally sustainable opportunities that build better lives and vibrant neighborhoods, while creating long-term success.

For additional information about Urban Partnership Bank, call toll-free 800.905.7725, or 773.420.5050, or visit www.upbnk.com.