GREENVILLE, S.C. – November 17, 2021 – United Community Bank recently announced it is making a gift of $160,000 to the South Carolina Research Authority Industry Partnership Fund (IPF). This is the largest contribution SCRA has received from a bank in the IPF’s 15-year history. The South Carolina Research Authority (SCRA) fuels South Carolina’s innovation economy through the impact of four unique programs and provides grants and investments to companies and projects funded, in large part, through contributions to the Industry Partnership Fund.
“The South Carolina Research Authority and the grants and investments they provide to entrepreneurs play a critical role in helping to nurture innovation and foster economic growth across the state. As a longtime partner of the organization, we have seen first-hand the impacts of their work in our local communities and we want to support those efforts,” said Dixon Woodward, State President of South Carolina for United Community Bank.
“We cannot achieve our mission without partners like United Community Bank who share our dedication to the spirit of innovation. These types of contributions enable us to support our Member and Portfolio Companies, as well as academic researchers, that are looking to develop their ideas and ultimately grow into a thriving South Carolina-based business,” said Bob Quinn, executive director of SCRA. “As a strong partner for small businesses through its banking services, we appreciate United’s belief in entrepreneurs early on in their process of innovation.”
United Community Bank is nationally recognized for its capabilities and service for small business owners. In 2020, the bank received five Greenwich Excellence Awards for Small Business Banking, including a national award for Overall Satisfaction. United also has a robust SBA lending program, which led the effort for the bank to secure approximately $1.8 billion in funds from the Paycheck Protection Program under the CARES Act.
United’s newest subsidiary, FinTrust Capital Advisors, has had a nearly decade-long working relationship with SCRA. FinTrust SVP and fiduciary consultant Chip Hardy adds, “After several years of working together in business and a shared belief in the SCRA vision for fostering innovation, we are thrilled that United is able to make such a large-scale investment in the future of our state’s economy.”
United Community Bank is among South Carolina businesses and individuals eligible to receive a dollar-for-dollar state tax credit for investing in SCRA’s Industry Partnership Fund. A strong innovation economy means higher potential for cutting-edge technologies and higher-paying jobs to remain in South Carolina.
About United Community Banks, Inc.
United Community Banks, Inc. (NASDAQGS: UCBI) provides a full range of banking, wealth management and mortgage services for relationship-oriented consumers and business owners. The company, known as “The Bank That SERVICE Built,” has been recognized nationally for delivering award-winning service. At September 30, 2021, United had $19.5 billion in assets and 171 offices in Florida, Georgia, North Carolina, South Carolina and Tennessee along with a national SBA lending franchise and a national equipment lending subsidiary. Through its October 1, 2021 acquisition of Aquesta and its wholly-owned banking subsidiary, Aquesta Bank, United added $754 million in assets and nine banking offices in high growth markets in North Carolina. In 2021, J.D. Power ranked United highest in customer satisfaction with retail banking in the Southeast, marking seven out of the last eight years United earned the coveted award. United was also named one of the "Best Banks to Work For" by American Banker in 2020 for the fourth year in a row based on employee satisfaction. Forbes included United in its inaugural list of the World’s Best Banks in 2019 and again in 2020. Forbes also recognized United on its 2021 list of the 100 Best Banks in America for the eighth consecutive year. United also received five Greenwich Excellence Awards in 2020 for excellence in Small Business Banking, including a national award for Overall Satisfaction. Additional information about United can be found at www.ucbi.com.
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