Union Bank and Trust Company

Founded in 1976 by 24 construction and trade unions, Union Bank & Trust remains one of the only financial institutions in the nation owned and controlled by the very members who created it. For nearly half a century, we have been a state-chartered, FDIC-insured, union-owned bank and trust, providing financial strength with the personal service of a community institution. Our mission has never wavered: to deliver world-class banking and trust services while championing the working men and women who build and power this country. With the same capabilities as the largest financial institutions, our highly credentialed team offers a tailored, hands-on approach that puts our clients first—whether they are local trade unions, national labor organizations, or individuals seeking a trusted financial partner. In 1982, we expanded our services with the formation of our Trust Division, acting as a custodian for Taft-Hartley pension, vacation, and health & welfare funds. Today, we are a nationally recognized leader in trust services, safeguarding more than $11 billion in assets for union pension and health & welfare funds across the country. Built by hardworking tradespeople, we remain committed to securing the long-term financial well-being of those same individuals—now and for generations to come. True to our founding values, we don’t shy away from industries that drive job creation and economic growth. That’s why, for the past 10 years, we have been a leader in cannabis-related banking, ensuring that businesses in this evolving industry have access to stable, transparent financial services. We firmly believe cannabis will create jobs, strengthen Minnesota’s economy, and provide new opportunities for workers and communities. Unlike other institutions, we refuse to impose unnecessary hurdles or hidden fees—because at UBT, we don’t believe in the so-called "canna tax." We believe in fair, responsible banking that fuels progress. At Union Bank & Trust, we don’t just manage money