What was once ShoreBank is now Urban Partnership Bank and is hosting a grand opening of its new branch office in Midtown.
ShoreBank made a name for itself as a lending institution that focused on providing banking services, such as making loans and mortgages in inner-city neighborhoods across the U.S. The Chicago-based bank went under during the foreclosure crisis and recession. Urban Partnership Bank took over ShoreBank's assets in 2010 and has been rebuilding the bank and its social entrepreneurial mission.
"Our success is measured hand and hand on the success of the communities in the city," says Brian Berg, a spokesperson with Urban Partnership Bank
The new Midtown office is located in the ground floor of the Union Building
on Cass just south of Warren. It will be staffed by 10 people who will operate the branch, which will offer deposit services, mortgage lending and small business loans for stakeholders in Detroit and those who want to pursue that path.
"We're going to continue to service our customers in this area and expand our customer base in Detroit," says Mark Clark, manager of the Midtown branch of Urban Partnership Bank.
Source: Brian Berg, a spokesperson with Urban Partnership Bank and Mark Clark, manager of the Midtown branch of Urban Partnership Bank
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.