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At Union Bank, we believe that social investments are a manifestation of our values of Integrity, Respect, Service, Collaboration, Inclusion, and Stewardship. Strengthening ties to our local communities – coupled with an unwavering commitment to work side-by-side with community partners, clients, and colleagues – forms the foundation for much of what we do. And that work starts first and foremost at home, by putting our people first.

In 2017, the bank established an Employee Relief Fund (ERF) with seed money from MUFG as a way for colleagues to both give and receive assistance when disaster strikes. The ERF allows for colleagues to donate contributions and pool their resources to support one another in times of need. This has allowed us to deliver on short term-recovery assistance with long-term sustainability initiatives for our colleagues and communities during times of distress. Our matching gifts program amplifies an employee’s financial contribution to a designated non-profit organization by matching their donation dollar-for-dollar, up to $1,500.

2019 was punctuated by global economic uncertainties, a marked increase in natural disasters with devastating effects, and ongoing political discord domestically. Despite the turbulence, we maintained a firm commitment to prioritizing the health and wellbeing of our colleagues.

Internally, we strive to create a culture of inclusivity and of belonging, where our colleagues are empowered to be their most authentic selves. Our mission comes to life through our Inclusion & Diversity programs, Enterprise Resource Groups (ERGs), Culture Principles initiatives, and in the goals and objectives our senior leaders establish for increased diversity among our workforce. Throughout the company, we are working to increase representation in the following ways:
 

  • Talent Pipeline (workforce demographics, recruitment)
  • Talent Development (ERGs, mentoring, career development)
  • Leadership Accountability (responsible for results, communications, visibility)
  • Supplier Diversity (percent of Tier I and Tier II spend with minority-, women-, LGBTQ-, disability and veteran-owned businesses)
     

At Union Bank, our vision for promoting diversity is "Enlighten, Encourage, Empower – Work together as a group to exceed client expectations.” In addition to the importance of fostering inclusion and belonging internally, we recognize that our clients’ needs are becoming more and more diverse, and we know that in order to effectively create products and services tailored to their financial priorities, our workforce must reflect that diversity.

Our Approach

Inclusion & Diversity (I&D) isn’t just a program at MUFG, it′s an integral part of how we do business. Throughout our Inclusion and Diversity initiatives, we prioritize investing in programs that directly work to increase representation and opportunities for all colleagues. 

We know our colleagues are key to our continued success, and our dedicated focus on inclusion and diversity is a key driver of employee satisfaction, retention and improved business results. To drive this commitment forward, we developed an Executive I&D Council to act as our steering committee, representing the voices from Corporate Social Responsibility (CSR), procurement, recruitment, and ERG’s across the business, to ensure people with different perspectives have a seat at the table. It is our goal to enable colleagues at every level to work together and create an environment of belonging where they can grow and thrive.



We are tremendously proud this year to have been recognized for our work in this area by the following prestigious news outlets and industry organizations:
 

  • American Banker, The Most Powerful Women in Banking and 25 Women to Watch: 2019 Bita Ardalan Head of Commercial Banking, and Ranjana Clark Head of Global Transaction Banking
  • Bloomberg Gender-Equality Index, 2019
  • DiversityInc Noteworthy Company, 2019
  • ERG & Council Honors Award - Spotlight Impact Award – WIN ERG, 2019
  • Exelon Honor Roll, Top Financial Services Business Partners for Diversity & Inclusion, 2019
  • Human Rights Campaign Corporate Equality Index 100% score, 2019
  • Black EOE Journal Top LGBTQ+ Friendly Employer, 2019
  • Professional Woman’s Magazine Top LGBTQ+ Friendly Company, 2019
  • Veterans Magazine Best of the Best, 2020
  • 2019 Black EOE Journal Top Employer
  • Human Rights Council: Top LGBT-Friendly Employer and Top Financial & Banking Company, 2020

These accolades are the result of our teams’ hard work, and it’s always great when our efforts are honored by peers and esteemed organizations. The recognitions help inspire us to continue building an inclusive workplace open to innovations borne from diverse perspectives.

Anjana Berde, Head of Talent Development and Learning, MUFG Americas.

Our Progress towards an Inclusive & Diverse Culture


At MUFG Americas, our inclusive culture is combined with a commitment to building a diverse workforce. We welcome the unique perspectives of individuals with varying cultural backgrounds and life experiences—each bringing new ideas and innovation, while fueling our transformation in a constantly evolving industry. In fact, much of our philanthropic work over the years has supported areas in which there is still a lack of equality and social disparities persist, including addressing the shortage of affordable housing in key markets, establishing financial education and innovation hubs, and contributing to social safety net services, all in traditionally underserved communities. But we recognize that the road is long and there remains a lot more work ahead. We are committed to effecting positive change for the communities that need it most. We will continue to remain transparent and report on our progress in taking on the issues that continue to plague our communities.


As of this year, Union Bank is made up of 58.5% People of Color and 49.6% women. Additionally, 66.1% of women or people of color sit at the VP level and above.1

Looking ahead, we know that we have more work to do in this space. We have set out to increase representation at different levels across the organization and lines of business by 2024. This year, we are implementing a new structure, accompanied by a video and article to outline the approach to internal stakeholders.

 

1 Data for MUFG in the Americas, United States only, as of fiscal year end - March 31, 2020

We’re also continuing to find new ways to champion leadership and education opportunities in underserved communities. In 2019, Union Bank was the main sponsor of the Laureus Foundation Youth Leadership Summit, through our sponsorship of the Laureus Foundation, an international non-profit organization that uses sport as a tool for social change. The summit was designed to champion youth voices by providing a platform for them to connect with leaders and professional athletes to share and gain insights on how to design effective programs that serve young people.

As part of the bank's participation, recent graduates from the student-run high school branches, along with incoming student bankers, presented a financial education workshop to help provide essential real-world skills. Laureus invited more than 100 youths from the Sport for Good programs it funds in Chicago, New Orleans, Atlanta, and New York City, as well as youths from L.A.-area programs focused on developing young leaders through sport. “There is a critical lack of diversity among leaders of today, and we believe sport can help bridge this gap by empowering people from all backgrounds to develop the knowledge and confidence they need to emerge as leaders,” said Benita Fitzgerald Mosley, CEO of Laureus USA and Olympic gold medalist in track and field. “Nearly 75 percent of youth in Laureus-supported programs show increased leadership skills, including the abilities to organize, plan, and make decisions, and we are proud to help inspire the leaders of tomorrow.”

Talent Management & Recruitment


We work to offer a broad range of career opportunities for our colleagues and believe the well-being of our people is important to building our strongest future. As we look ahead, we are defining what success looks like as we evolve to a new normal in the face of the COVID-19 pandemic, and work to recruit, retain and support our talent.

At MUFG, inclusion is an integral part of how we do business. We respect the human rights and diversity of all MUFG staff. We do not engage in or tolerate any form of discrimination or harassment or any other behavior that infringes these beliefs. We encourage our teams to ask questions, express their perspective and challenge the status quo. We value feedback from our teammates because we know that the unique contributions of our diverse workforce is the key to our growth, the catalyst for new ideas, and the foundation for greater innovation.

To build and sustain this environment, we are constantly working to foster a culture that welcomes people with diverse perspectives, backgrounds, and beliefs. We encourage colleagues to respect and inspire each other while allowing them to freely pursue personal growth and career success. We do this in part through our Employee Resource Groups, which are just one way we demonstrate our commitment to ensuring that similarities and differences are honored and valued the moment an individual joins our company.

Some highlights from our Employee Resource Groups in 2019 include:
 

  • Adelante (Hispanic/Latino ERG) hosted an I-Mentor campaign in New York in partnership with Pulse. The event hosted 30 students from underserved communities in a visit to our trading floor and lunch and learn with Bill Mansfield
  • ASPIRE (Asian Pacific Islander ERG) hosted a number of cultural events in celebration of Lunar New Year, AAPI Heritage Month, Moon Cake Festival, and other cultural events widely observed in the AAPI community. In particular, ASPIRE partnered with MUFG Regional Bank to host an event showcasing the rich cultures of Guam, alongside China, India, Japan, and the Philippines. Over 70 members and colleagues had a wonderful time enjoying gourmet ethnic food, while experiencing the positive impact each culture has brought into the world.
  • NextGen Leaders (Generational ERG) held a Generational Diversity celebration – a month-long celebration demonstrating our commitment to and appreciation for our colleagues across generations. 
  • Led by the Pride Alliance (LGBTA ERG), 2019’s Pride Month campaign was innovative and focused on brand awareness and collaboration. During June, Pride Month messages appeared on over 500 branch ATMs and digital screens throughout the bank’s footprint and on the company’s social media pages. Rainbow flags were raised in major hubs, and our MUFG logo received a new look – an MUFG Rainbow logo, that was utilized by various global regions to observe Pride Month.
  • About 150 colleagues participated in “Taking your Career to the Next Level,” an event put on by PULSE (African American/Black ERG) along with partners from Talent Development (TD), and Talent Acquisition & Staffing (TAS), helped educate and encourage  colleagues on how to successfully prepare for and apply to change positions internally.
  • SERVE (Veteran’s ERG) participated in the Stand Down in San Diego in June 2019 – a 3-day, 2-night intervention program that helps support more than 800 homeless veterans and their families.  The Union Bank Team participated in the “Clothing Tent set-up”.
  • WIN (Women’s ERG) celebrated International Women's Day for the 3rd consecutive year with a global campaign themed "Each for Equal: An Equal world is an enabled world.”

In addition to Employee Resource Groups, we continue to champion our diversity and inclusion efforts through:
 

  • A focus on diverse representation in our hiring efforts
  • Development opportunities for diverse populations within our workforce
  • A focus on deploying our inclusive leadership program
  • Developing in-person and e-learning programs to improve diversity
  • Providing “Micro-learning training” which is an abbreviated training in the form of an infographic, or a short video. These brief trainings help increase awareness of I&D issues

 

We support and partner with professional development and community organizations that align with our inclusion and diversity strategy, including:

Employee Relief Fund


Disasters often occurs with little to no warning. In 2017, the bank established an Employee Relief Fund (ERF) with seed money from MUFG as a way for colleagues to both give and receive assistance when disaster strikes. Our company will continue to support the ERF financially and as a representation of our values of respect and stewardship.

This past year, our disaster relief funding supported emergency efforts for fires, hurricanes, floods and our current COVID-19 pandemic. Across the board, our strategy remains consistent—providing short term recovery and then long-term sustainability. By investing in a localized deployment of funding, we ensure our support goes to the neighborhoods and people that need it most.

Protecting Colleagues in a Global Pandemic


As the COVID-19 pandemic spread to impact employees and clients across the country, our relief strategy evolved to ensure we were best supporting our employees during this challenging time.

Our Foundation was able to remain resilient and quickly adapt to the near-daily evolving conditions brought on by COVID-19. We expanded our grant application acceptance process to allow for operational support for non-profits, thus providing funding to cover operational expenses such as rent, payroll and other administrative fixed expenses.