Union Bank, headquartered in Morrisville, announced today the opening of its new commercial loan office in Newport effective August 18, 2014. The new loan production office, located at 325 East Main Street, offers a convenient location for the bank’s current business loan customers, and potential customers in Orleans and Essex Counties.
Union Bank has served Northern Vermont since 1891 and has been consistently recognized by the Federal Deposit Insurance Corporation (FDIC) for outstanding performance meeting the credit needs of local communities as measured under the Community Reinvestment Act (CRA). In particular, the FDIC stated that Union Bank’s community development performance demonstrates “an excellent responsiveness to the community development needs of its combined assessment area, through the provision of community development loans, qualified investments and community development services.”
As a growing community bank, Union Bank is uniquely positioned to service its commercial clients based on its highly personalized approach to lending. “We are constantly working to offer a range of banking solutions which meet the needs of our customers in the communities we serve” said David Silverman, President and CEO of Union Bank. “Union Bank’s lenders bring a combined wisdom and scope of experience that will benefit local businesses looking to grow their operations. We look forward to expanding our community- based lending practices to the Orleans and Essex County areas,” Silverman continued.
Silverman also announced that Tina Norton has been hired to join Union Bank’s commercial lending team in Newport.
“A local Newport resident, Norton is very familiar with the Newport community and its local businesses. With the support the Bank will provide, and the trust and respect Norton has earned with her 23 years of banking experience, we make a great match for the community of Newport- locals helping locals with their financial needs” said Silverman.
The new office provides businesses and non-profit organizations in and around Newport with an alternative for their commercial borrowing needs as well as trust and asset management services, credit and debit card processing services and electronic remote deposit services. The office will be open Monday through Friday from 8 am to 5 pm.
The announcement continues a list of market–expanding initiatives the bank has undertaken over the past four years, with previously announced offices in South Burlington and expanding its geographic
footprint into northwestern New Hampshire with office locations in Groveton, North Woodstock, Littleton and Lincoln.
Union Bank, a wholly-owned subsidiary of Union Bankshares, Inc (UNB, traded on the NASDAQ Exchange), has been helping people buy homes and local businesses create jobs in area communities since 1891.
Source: Union Bank 8.14.2014