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Community Advantage Programs

Fresh starts, second chances and targeted investments

At United Bank, we've found that offering a helping hand to people and communities often brings uplifting results. We offer a variety of banking tools designed to help individuals get their finances back on track, as well as a unique tax credit program that aims to spur economic development in low-income neighborhoods.
If you've hit a bump in the road, Gateway Checking can help you bounce back. Customers with poor credit ratings - or no credit histories - can get a full-service checking account that will help manage their money, pay their bills and get things headed in the right direction.
  • Free Discover debit card with fraud protection
  • 24/7 Online Banking included, with electronic Bill Pay available for $4.95 per month1
  • User-friendly smartphone app with mobile check deposit1
  • Access to a nationwide network of ATMs
  • 24/7 Telephone BankLine Service and account alerts by calling 800-861-8752
  • Variety of check options (customer pays for checks and shipping/handling charges)
  • Monthly maintenance fee of $10
  • $10 fee assessed if account is closed within 180 days of opening
  • Each item presented against insufficient funds will be returned and the account will be charged $34 
  • No overdraft limit for this account
  • Upgrade available to another account 12 months after account opening upon request and approval, if no more than 6 NSF fees occur 
1 Fees may apply for some services within Online Banking or Mobile Banking. Cell phone text and data rates may apply.
Talk about a winning combination. The Secured Visa Classic Card can provide instant purchasing power as it helps build your credit score. This card features competitive rates and a credit limit determined by the balance in your United Bank saving accounts.
Features & Benefits:
  • Make purchases online and at millions of locations worldwide
  • Minimum credit limit is $300 (subject to credit approval)
  • 13.80% Annual Percentage Rate (APR) for purchases and cash advances. (The rate of 13.8% is fixed for 12 months from date of issuance. After that, the card may be re-issued at the then-current rate.)
  • No interest charges if your full bill is paid within 25 days of making purchases
  • Manage your account and access monthly statements online at or at
  • Get the added benefits of $150,000 worth of travel accident insurance and SecurLOCK Fraud Monitoring
  • Breathe easier with Visa's Zero Liability policy, which means you're not held responsible for unauthorized card purchases

A stretch of bad fortune can cause your debt load to rise and credit score to plummet. This unique loan can make your financial outlook a good deal brighter, providing an infusion of funds needed to cover pressing obligations or a good opportunity to strengthen your credit rating.1
  • Repayment terms of 12, 18 or 24 months2
  • Annual Percentage Rate (APR) of 10%
  • No origination fees
  • Borrower must attend financial education class before loan money is disbursed
Purpose: Credit Building
  • Total loan amount of $500
  • Half of the money must be placed in a Certificate of Deposit3
  • Hold is placed on CD funds until loan is repaid
  • No minimum credit score requirement
Purpose: Purchases, Bill Payment or Other Obligations
  • Loans up to $2,500
  • Half of the money must be placed in a Certificate of Deposit3
  • Money must be used for a true need (pay a bill or collection debt)
  • Proceeds are made payable to third-party business and not the borrower or other individual
Qualifying participants are eligible to receive half of the loan amount, with the other half being deposited into a CD. The term of the CD should match the term of the loan. A hold will be placed on the CD until the loan is repaid. Part of the program design is that once the loan is repaid the participant has created a savings account.

In order to receive a Credit Advantage loan with United Bank, participants will be required to complete a financial education course through Financial Focus, United Bank's online financial education platform. Click Here for Financial Focus' Building Financial Capability playlist. Financial Focus provides an interactive financial education experience which is available 24/7 for participant ease of use. Customers are limited to three Credit Advantage loans. The loans can be concurrent as long as the borrower has completed the required financial education course, paid off the preceding loan in full, and still meets the debt-to-income requirement. Participants needing more than three loans will be required to attend additional financial education courses.

1 Loans subject to credit approval.
2 For example, a $2,500 Credit Advantage Loan at 10% APR for 24 months would have 24 monthly payments of $115.36. Actual terms may vary.
3 Individuals who do not have a credit score  are only eligible for a loan of $500, half of which will be deposited into a certificate of deposit (CD).
New Markets Tax Credit
The New Markets Tax Credit program (NMTC) was established to spur investment in operating businesses and real estate projects in low-income communities. Though not intended as the primary funding source, this can be an excellent option to fill funding gaps in projects that fit the economic criteria.
  • NMTC net proceeds can fund up to 20% of a project.
  • They are often paired with owner equity, borrowed funds, or other grants or public funds.
  • Special purpose entities called CDEs apply annually to the US Treasury Department for delegated authority to sell these federal tax credits.
  • The proceeds from that sale are then used to fund investments, typically structured as low interest rate loans, in qualifying businesses or commercial real estate developments.
  • The credit provided to the investor totals 39% of the cost of the investment made in the CDE and is claimed over a 7-year credit allowance period.
Community Facilities Lending Program
The Community Facilities Lending Program was established to provide primarily rural, but also urban areas with affordable long-term capital. Eligible borrowers include public bodies such as,
  • Counties, boroughs, cities, townships,  and special purpose districts
  • Native American tribes on Federal and State reservations
  • Non-profit corporations with strong ties to the community
Community Housing Capital
Community Housing Capital provides funding solutions for affordable housing investors committed to building neighborhoods in economically challenged communities. Low-income individuals and families often have trouble finding affordable housing and managing monthly rental payments. This burden leaves little income for necessities such as food, medical care, and transportation. The Community Housing Capital program seeks to alleviate this burden by providing long-term affordable capital. 

For more information about these programs, please visit
Shortfalls in your affordable housing construction budget? We're here to help.
Our Community Housing Soft Loan Program is designed to help fill budget gaps for your new or rehab affordable housing project. We offer fixed-rate loans for New Construction, Rehab, or Rehab with Project-Based Rental Assistance projects.
  • Terms up to 20 years (longer terms considered for RD or HUD projects)
  • 3.75% fixed rate
  • 1.5% origination fee
  • Negotiable repayment based on project cash flow
  • Non-recourse

For more information, contact Joe Raines at (205) 790-1384

United Bank is a full-service financial institution with branches in Alabama and Florida.