MUFG, a global financial group, announced the release of its 2019 Corporate Social Responsibility Report, Strength and Stability, A Look Back At 2019, which outlines the company's work over the past fiscal year in environmental stewardship, community reinvestment and colleague support. The report encapsulates efforts of MUFG throughout the Americas and highlights the initiatives of its retail operation, Union Bank. For the first time in the company's history, sections of the report will be available in Portuguese and Spanish, a reflection of the bank's dedicated efforts to embrace inclusivity and promote the accomplishments of its colleagues in Latin America.
The report details MUFG's efforts across its fiscal year, which runs April 2019 – March 2020. During this period, the MUFG Union Bank Foundation completed its three-year, $3.5 million commitment to help address the affordable housing shortage on the West Coast. The report also reveals the company is on track to meet all eight of the goals in its 2016-2020 Community Service Action Plan, which includes committing $100 million to support economic development in low-to-moderate-income communities, $85 million in philanthropic grants and investments, $7 billion in Community Reinvestment Act (CRA) reportable small business lending, and ensuring 15% of total bank spending goes to certified Diverse Business Enterprises.
Additional highlights from the last fiscal year include:
Union Bank colleagues logged more than 64,000 hours of volunteerism to various causes and organizations
More than $270 million was allocated for products and services provided by certified Diverse Business Enterprise suppliers
Union Bank Home Loans originated 1,024 loans totaling $217 million and 1,045 housing units to low- and moderate-income borrowers
Union Bank committed $3 million to provide immediate relief to communities in the bank's footprint to help relieve the economic impacts of COVID-19
The bank invested $12.9 million into small business investment companies, leveraging over $400 million to provide capital to 32 companies supporting 6,000 jobs
MUFG Americas contributed $9.7 billion to projects that promote clean energy infrastructures and conserve natural resources
"Our latest Corporate Social Responsibility report captures the hard work of our colleagues to make the world a more equal, prosperous and sustainable place," says Julius Robinson, Head of Corporate Social Responsibility for the Americas for MUFG. "MUFG has always been a catalyst for positive change in the communities where we live and work, and the importance of this is clearer now more than ever. I'm so proud of what we've been able to accomplish by partnering with organizations, institutions and people to accelerate meaningful change."