United Bank provides funding for the construction of Arbours at Moore’s Mill in Huntsville, Alabama

December 28, 2023

ATMORE, Ala., Dec. 28, 2023 /PRNewswire/ — (OTCQX: UBAB) – United Bank has provided $250,000 in soft financing to Arbour Valley Development for the construction of Arbours at Moore’s Mill, an 80-unit affordable housing complex for elderly residents 62 and older in Huntsville, Alabama. The soft financing is funded through United Bank’s 2020 Capital Magnet Fund award from the CDFI Fund division of the US Treasury Department. Once completed, the complex will offer one- and two-bedroom units.

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