UB Community Development, LLC (UBCD) is dedicated to meeting the needs of economically disadvantaged and underserved communities. UBCD, a community development partner of United Bank, was recently certified by the U.S. Department of Treasury as a Community Development Entity (CDE). This distinction was earned, in part, because of United Bank’s demonstrated community involvement, including execution of programs related to financial literacy, homebuyer initiatives and credit building programs. Founded in 1904, United Bank, has a history of providing exceptional customer service and innovative technology to our customers, which has endured the test of time and is at the heart of our continued expansion into new markets.
UBCD’s New Market Tax Credit Program is part of a federal tax credit program enacted by Congress in 2000, designed to stimulate private investment in low-income urban neighborhoods and rural communities. In 2016, United Bancorporation of Alabama, Inc. received $65MM in New Market Tax Credits, and remains the only community development entity headquartered in Alabama to receive the allocation. In 2017, following the successful deployment of more than $90MM of New Market Tax Credits, UB Community Development received a $55MM allocation of New Market Tax Credits. This allocation further validates our team’s extensive expertise and passion to bring community oriented economic development projects to qualifying areas.