Union Bank celebrates 150 years

MUFG Union Bank, N.A., was founded as The Bank of California on July 5, 1864, by financier William Chapman Ralston and was the West’s first incorporated commercial bank. Last Saturday, the bank that financed many aspects of the mining industry through California’s Gold Rush years, and handled more gold bullion than any other private institution in the United States, turned 150 years old.

Ralston leveraged the bank’s capital to fund key infrastructure in the West, including the Transcontinental Railway, the first irrigation systems in the San Joaquin Valley, Hunters Point shipyard and San Francisco’s cable cars, as well as the wine industry. The bank served as a key player in the region’s rapid growth during the latter portion of the 19th century and the early 20th century.

An important part of Union Bank’s legacy is service to the communities it serves. The bank provides community support through employee volunteerism as well as charitable contributions through the Union Bank Foundation. In 2013, Union Bank’s charitable investment in local communities totaled $13 million, including grants, contributions and sponsorships to help finance the efforts of nonprofit organizations within the bank’s geography. The bank’s charitable investments focus on four areas: affordable housing, community economic development, education and the environment.

Union Bank has 57 branches in the Bay Area to serve the financial needs of local businesses and residents.

“Since Union Bank was founded 150 years ago, we have been committed to responsible banking and helping to build the communities that we serve,” said Union Bank Vice President and Sonoma Branch Manager Robin Gold. “We look forward to helping our clients achieve their financial goals for the next 150 years.”