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Record #: R2014-283   
Type: Resolution Status: Failed to Pass
Intro date: 4/30/2014 Current Controlling Legislative Body: Committee on Finance
Final action: 5/20/2015
Title: Call for removal of Urban Partnership Bank from list of approved depositories for City of Chicago and Chicago Board of Education funds
Sponsors: Hairston, Leslie A., Harris, Michelle A., Holmes, Natashia
Topic: FINANCE FUNDS - Depositories of City/School Funds
Attachments: 1. R2014-283.pdf
Related files: R2015-407
WHEREAS, Urban Partnership Bank's President William Farrow states on their website the following mission statement: >lOur new branches reflect our mission to make a difference in the lives of our customers and communities."; and
WHEREAS, the South Shore community does not believe Urban Partnership Bank is living up to its mission; and
WHEREAS, the decision to close its South Shore financial center in a historic building at 71st & Jeffrey Boulevard is not sitting well with neighborhood residents and customers; and
WHEREAS, the decision to board up the iconic building is only adding insult to injury;
WHEREAS, Urban Partnership Bank has indicated that the board up was a mandate supporting their security regulations;
WHEREAS, there are (2) two other Urban Partnership Bank locations that have been closed for several years and there is no evidence of current or past board ups;
WHEREAS, the South Shore community after visiting the same (2) two Urban Partnership Bank locations have seen no evidence of current or past board up ;
BE IT RESOLVED, that Urban Partnership Bank and their Board of Directors have shown a clear disregard for their customers in the South Shore Community and the City of Chicago;
Leslie A. Hairston
Alderman, S,B Ward
BE IT FURTHER RESOLVED, that City of Chicago should remove Urban Partnership Bank from its list of approved Depositories.