Union Bank, N.A., announced on Friday it will donate $250,000 through its Union Bank Foundation to organizations in Japan assisting with relief efforts for victims of the country’s devastating earthquake and resulting tsunami.
Union Bank is a member of the Mitsubishi UFJ Financial Group, one of the world’s largest financial organizations. MUFG has established a fund for disaster relief that now totals 500 million yen (approximately $6.3 million). The fund resulted from separate donations from MUFG’s family of more than 40 companies, including Union Bank and its parent company, The Bank of Tokyo-Mitsubishi UFJ, Ltd.
In addition, Union Bank is matching its employees’ donations to enhance their contributions. In one week, donations have totaled close to $160,000.
The bank also recognizes that customers in the U.S. sympathetic to the plight of victims may be interested in providing direct financial assistance to family members and friends in Japan. For these customers, Union Bank is providing several accommodations through the end of April 2011, such as waiving fees for consumer customers wiring funds to Japan for relief efforts, and special rates for yen conversion; and personal unsecured loans and home equity lines of credit with discounted rates and no fees. Customers are encouraged to visit their local branch for details, or www.unionbank.com.
“It is difficult to watch a disaster of this magnitude unfold without wanting to take action to help,” said President and CEO Masashi Oka. “I am proud and grateful that our bank and our employees have shown such compassion and concern for the Japanese people.”