Union Bank Opens Magnolia Financial Education Center

Caption: Jessica F. Vielmas, community banking expert at Union Bank (second row, first from the left) with Union Bank Latino Heritage Young Artist Contest winners, Gustavo Garcia Vaca (first row, first from the left), Kristy Sandoval (first row, second from the left), and Alma Villegas, Development Manager with ArtworxLA (first row, first from the right).

LOS ANGELES, CA (February 12, 2018) — Union Bank today announced the grand opening of the Union Bank Magnolia Financial Education Center located at 1910 Magnolia Ave., Los Angeles, California. The bank’s office, which resides in the Magnolia Place Family Center, is a resource center established to help low-to-middle income families learn and receive financial education in a friendly, neighborhood environment. Union Bank partnered with Magnolia Community Initiative, a ground-breaking model for community mobilization, and Children’s Bureau of Southern California, a nonprofit leader in child abuse prevention and treatment, to bring these much-needed services to the local community.

Staffed by Jessica F. Vielmas, a community banking expert, the Union Bank Magnolia Financial Education Center is designed to help answer banking questions and provides one-on-one consulting, as well as financial seminars on topics such as budgeting, saving for college, and using credit wisely.

“Members of our community are often intimidated to ask general questions about opening an account, or how to read their account statement,” said Vielmas. “My job here is to create a safe place where they can ask questions and learn about planning for their financial future.”

At the event, Union Bank also honored twelve young artists, winners of a recent contest celebrating Latino Heritage sponsored by Union Bank, Magnolia Community Initiative, and Children’s Bureau. Janette Salazar, age 16, took home the grand prize and her artwork will become a painted mural on the Department of Water and Power Building on Central Avenue in Los Angeles.

In conjunction with National Hispanic Heritage Month in 2017, Union Bank launched the Latino Heritage Young Artist Contest. The finalists were announced during the grand opening event, and their artwork was on exhibit. Winners were selected based on creativity and incorporating Latino heritage themes into their artwork.

“We are delighted to celebrate the opening of our Magnolia Financial Education Center and honor the artistic talents of our youth,” said Julius Robinson, head of Corporate Social Responsibility at Union Bank. “We are also proud to support MCI and Children’s Bureau’s innovative effort to help families thrive and have a bright financial future.”

The young artists won cash prizes (up to $1,000 for first prize) in three different age groups from ages seven to 17. Additionally, the winners will receive four art lessons with world-renowned artist Gustavo Garcia Vaca. The winners for each age category are as follows:

• Ages seven to 10: Rachel L Jaimes, first place; Camila V. Munoz, second place; Valery N. Contreras, third place; and Joshua Velazquez, honorable mention.
• Ages 11-14: Dhamar B. Carrillo, first place; Hans Reyes, second place; Leonardo Dante Aguilar, third place; and Elise Fujita, honorable mention.
• Ages 15-17: Janette Salazar, first place; Angel Lopez, second place; Janna Rae Nieto, third place; and Norma Carrillo, honorable mention.

A panel of artists, educators, and representatives from Union Bank served as judges.

About MUFG Union Bank, N.A.

As of September 30, 2017, MUFG Union Bank, N.A. operated 361 branches, comprised primarily of retail banking branches in the West Coast states, along with commercial branches in Texas, Illinois, New York and Georgia, as well as 18 PurePoint Financial Centers and two international offices. We provide a wide spectrum of corporate, commercial and retail banking and wealth management solutions to meet the needs of customers. We also offer an extensive portfolio of value-added solutions for customers, including investment banking, personal and corporate trust, global custody, transaction banking, capital markets, and other services. With assets of $118.6 billion, as of September 30, 2017, MUFG Union Bank has strong capital reserves, credit ratings and capital ratios relative to peer banks. MUFG Union Bank is a proud member of the Mitsubishi UFJ Financial Group (NYSE: MTU), one of the world’s largest financial organizations with total assets of approximately ¥305.5 trillion (JPY) or $2.7 trillion (USD)¹, as of September 30, 2017. The corporate headquarters (principal executive office) for MUFG Americas Holdings Corporation, which is the financial holding company and MUFG Union Bank, is in New York City. The main banking office of MUFG Union Bank is in San Francisco, California.

1 Exchange rate of 1 USD=¥112.7 (JPY) as of September 29, 2017

About Magnolia Community Initiative

Magnolia Community Initiative (MCI) is a pioneering collaborative effort to reimagine how resource providers, communities and parents can collaborate to strengthen families and prepare children to succeed. MCI combines an understanding of what is necessary to improve a child’s well-being with expertise in how to evolve complex, multi-service systems. Focusing on a 500-block area in Los Angeles as a proving ground, MCI is developing effective, sustainable strategies to build a community that supports strong, stable and nurturing families. MCI is currently featured in a discussion guide and series of videos developed by the United States Children’s Bureau called, “Building Community, Building Hope,” which encourages communities across the country to begin a conversation and build commitment to how society can and should work collaboratively to help vulnerable children live free of abuse and neglect. To learn more about MCI, visit www.magnoliaplacela.org.

About Children’s Bureau

Since 1904, Children's Bureau (www.all4kids.org) has been a nonprofit leader in the prevention and treatment of child abuse and neglect. The agency is unique in that it focuses on three key areas for creating impact: strengthen families and communities through direct programs and services, help other organizations with innovative tools and training, and transform systems and communities with best practices to improve outcomes. More than 34,000 children and families are helped each year throughout Southern California with services that include school readiness, parenting classes, family resource centers, support groups, mental health counseling, foster care and foster-adoption and more. Children’s Bureau is one of the largest investors in child abuse prevention in the country and is developing a national model to transform an entire at-risk community through its Magnolia Community Initiative.

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