Pub. 1 2013 Issue 2

spring 2013 25 BANK OF UTAH Bank Of Utah, Cottages Of Hope And Vita Volunteers Are Providing Free Tax Preparation Services To Those In Need Ten Bank of Utah employees are volunteering at Cottages of Hope to prepare and electronically file tax returns for people in need in the Ogden area. Cottages of Hope, is a nonprofit agen- cy focused on helping Ogden residents achieve greater levels of financial stability. Tax services are provided in conjunction with the statewide Volunteer Income Tax Assistance (VITA) program of the IRS. People earning less than $57,000 per year are eligible and may call 2-1-1 to make an appointment. “Many of our volunteers have been helping out at Cottages of Hope for a number of years so they’re experienced and are processing patrons very quickly and efficiently,” says volun- teer Craig Roper, Bank of Utah’s senior vice president and chief deposit officer. “We really enjoy providing this service to the community.” VITA volunteers helped well over 1,200 individuals and fam- ilies with their taxes, saving clients an estimated $215,000 in tax preparation fees and bringing back more than $1.9 million in total refunds. The total financial impact of this service on Cottages of Hope clients and to the community account for approximately $2,130 per volunteer hour. UBS BANK Utah Housing Corporation And UBS Bank USA Announce New Lending Program UBS Bank USA extended $200 million to UHC through an innovative financing structure that resulted in more afford- able mortgages for credit worthy Utah homebuyers – and placed UHC at the forefront of mortgage finance innovation among housing agencies across the nation. “This relationship harnesses the strengths and assets of both organizations to help provide more affordable mortgage choices for low-to-moderate income homebuyers in Utah,” said Rosemary Berkery, chair, UBS Bank USA and vice chair, UBS Wealth Management Americas. This innovative financial arrangement is an important ve- hicle to fund UHC’s popular first-time homebuyer program, which has helped more than 65,000 families gain home own- ership in Utah over the last 30 years, and will increase the availability of mortgages with lower payment options and down payment assistance. Combined with historically low interest rates and housing prices, the program is expected to help draw homebuyers back into the market and potentially help move Utah’s economic recovery forward. “Our mission is to make housing affordable for Utahns through finance and innovation. The relationship with UBS Bank USA helps us do both,” said Grant Whitaker, president and chief executive officer of UHC. “By increasing home ownership to credit-worthy homebuyers, we help create financial stability for Utah’s families and the state overall. We are pleased that UBS Bank USA embraced our vision and strategy. An additional benefit to UHC is the potential to replicate this new and innovative finance structure as a model with other funding sources.” U.S. BANK U.S. Bank Employees In Salt Lake City And The Greater Wasatch Front Donate School Supplies To Rose Park And Newman Elementary Schools “The U.S. Bank team donated many school supplies includ- ing calculators, books, erasers, notebooks, tissues, pens and pen- cils at U.S. Bank’s all employee meeting in Salt Lake City in late January,” said Damon Miller, market president for U.S. Bank in Utah. “The U.S. Bank team is excited to help provide local students in need with the school supplies they need everyday to do their best in school.” “The teachers and students are thrilled to receive the school supplies from U.S. Bank, and are using them already,” said Nicole Warren, Rose Park Elementary School principal. In addition, U.S. Bank employees across the company donat- ed school supplies to other nonprofit organizations around the country. The nonprofits in those communities will also distribute the school supplies to students in need. More than 41,000 of U.S. Bank’s employees gathered at meeting sites in 75 markets to receive an update on the company’s activities, employee volunteer efforts and to share ideas as to how they can assist customers and communities.  Bank Kudos — continued on page 26 Bank Kudos