Everence money market partner acquired by Providence Bank and Trust

Praxis update |

Chicago area bank supports charities, stimulates community development

Providence Bank & Trust recently acquired Urban Partnership Bank, which holds the assets for Everence® money market accounts available through Praxis Mutual Funds®.

Those with Everence money market accounts can continue to write checks, using the checkbooks they already have. 

Providence bank and trust - logo

Providence Bank & Trust, founded in 2004 in South Holland, Illinois, has 16 branches throughout the Chicago and Northwest Indiana region.

The bank donates 10 percent of its profits annually to civic, nonprofit and Christian organizations through a stewardship program that has distributed more than $3 million so far.

“We appreciate Providence Bank & Trust’s Christian origins, its support for nonprofits and its commitment to community development,” said Chad Horning, Everence Chief Investment Officer.

Providence Bank & Trust looks forward to “continuing the impactful work started by Urban Partnership Bank in supporting community growth and development,” said Steve Van Drunen, President and CEO.

The new combined bank has over $1 billion in assets. More than 40 percent of its loan and deposit portfolios are in low- to moderate-income neighborhoods.

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Author Jim Miller

Everence Money Market Account

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Everence Capital Management and Providence Bank & Trust are not affiliated. The Everence Money Market Account is not distributed by Foreside Financial Services, LLC.

An investment in the Praxis Mutual Funds is not a deposit in a bank account and is not insured or guaranteed by the FDIC or any other government agency.

The Everence Money Market Account is FDIC insured (subject to FDIC rules and limits) for up to $250,000 through Providence Bank & Trust. Please note, however, that for purposes of determining the FDIC coverage, any money that you have on deposit directly with Providence Bank & Trust will be combined with the amount on deposit in your Everence Money Market Account.