Union Bank, a commercial bank headquartered in San Francisco, is expanding into Arizona with a new mortgage operations center in Tempe.
It has secured 42,000 SF of office space at Papago Spectrum, 1225 W. Washington St.
Union Bank worked jointly with the Arizona Commerce Authority and GPEC to determine an ideal location within Metro Phoenix.
The center will ultimately employ approximately 250 mortgage professionals, including application processors, underwriters, and other operations support and management positions.
This is Union Bank’s first mortgage operations center in Arizona. The new location is part of Union Bank’s Consumer Lending division, which originates and services primarily residential mortgages in California, Oregon and Washington. Union Bank continues to process and service home loans from several locations in California.
“We are excited to expand our Consumer Lending team in the Tempe area and we appreciate all of the support that we have received from the local community, the City of Tempe, and the state of Arizona as we grow our operations to help meet the needs of our mortgage business,” said Union Bank Executive Vice President Jim Francis, head of Consumer Lending.
“We look forward to welcoming more employees to our organization in the months ahead and partnering with the greater Phoenix community.”
“Arizona is uniquely-positioned to benefit as California-based companies look to relocate or expand operations outside the state,” Gov. Jan Brewer said. “Union Bank’s decision is further validation of everything Arizona has to offer, including lean and predictable regulations, competitive tax policy and a quality workforce. Today’s announcement is great news and, I’m confident, a sign of wonderful things to come.”
“Tempe is proud to welcome Union Bank — they are a great addition to our community,” said Tempe Mayor Mark Mitchell. “This location is unmatched, with its proximity to a METRO light rail stop, freeways and the airport, and its position just north of vibrant Tempe Town Lake and Mill Avenue. Tempe also offers highly qualified employees, terrific housing options, solid schools and superior quality of life.”
“I want to thank Union Bank for selecting Arizona after a highly competitive, multi-state evaluation process,” said Sandra Watson, President and CEO, Arizona Commerce Authority. “Arizona’s proximity to California represents tremendous opportunity for companies such as Union Bank looking to expand but still remain close to their headquarters, and we welcome them to our great state.”
“Union Bank joins a growing chorus of financial institutions that have found that the Greater Phoenix region’s business climate, workforce and lifestyle cannot be beat,” GPEC President and CEO Barry Broome said. “There’s no doubt in my mind that Union Bank will also flourish in our community.”