Cadence Bank announced a strategic business alliance with Houston-based Unity National Bank of Houston (Unity National Bank), the only Black-owned banking institution in Texas. The cooperative alliance brings growth capital to Unity National Bank, strengthening its ability to make commercial loans and deliver other banking and financial solutions to businesses, individuals and families in minority and underserved communities in Greater Houston and Atlanta.
Unity National Bank, originally founded in 1963 as Riverside National Bank, is an independent community bank providing commercial and retail banking services and quality customer service, and proudly serves as a role model to other businesses in the Black community. Additionally, Unity National Bank is one of two Black minority depository institutions (MDI) with a national charter.
Through this strategic mentor-bank relationship, Cadence Bank will provide certain advisory services to Unity National Bank. Such services include, but are not limited to, advice on information technology management; strategies for the design, development and implementation of new banking products and services; recommendations for talent recruitment, associate training and development; and guidance on loan originations.
“We share Unity National Bank’s commitment to revitalizing minority and underserved communities and value the strategic alliance we have formed, knowing that collectively we can make a stronger impact,” said Hank Holmes, president of Cadence Bank. “It’s a privilege to work together, and we look forward to delivering positive progress in meeting our communities’ banking needs.”
Laurie Vignaud, president & CEO of Unity National Bank, added: “We appreciate Cadence Bank’s commitment to ensuring our underserved communities have the support and resources needed to make a meaningful impact. The COVID-19 pandemic has disproportionately impacted our minority and low to moderate income communities. Supporting our small businesses is needed now more than ever, and our collaboration will help us provide the much-needed support our communities are asking for.”