University Bank
Encyclopedia
University Bank is a community bank
headquartered in Ann Arbor, Michigan
which also specializes in Islamic banking
and mortgage subservicing for the credit union
industry. The bank was originally founded in 1890 as The Newberry Bank, was chartered by the state of Michigan
in 1908 and adopted the current name in 1995. The bank has its offices in the Leander J. Hoover Mansion.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
headquartered in Ann Arbor, Michigan
Ann Arbor, Michigan
Ann Arbor is a city in the U.S. state of Michigan and the county seat of Washtenaw County. The 2010 census places the population at 113,934, making it the sixth largest city in Michigan. The Ann Arbor Metropolitan Statistical Area had a population of 344,791 as of 2010...
which also specializes in Islamic banking
Islamic banking
Islamic banking is banking or banking activity that is consistent with the principles of Islamic law and its practical application through the development of Islamic economics. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees for loans of money...
and mortgage subservicing for the credit union
Credit union
A credit union is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members...
industry. The bank was originally founded in 1890 as The Newberry Bank, was chartered by the state of Michigan
Michigan
Michigan is a U.S. state located in the Great Lakes Region of the United States of America. The name Michigan is the French form of the Ojibwa word mishigamaa, meaning "large water" or "large lake"....
in 1908 and adopted the current name in 1995. The bank has its offices in the Leander J. Hoover Mansion.