Since our founding on May 17, 2010, at our headquarters in Rego Park, Queens, Liberty Union Bank (LUB) has been dedicated to empowering our community through trusted financial services. From our humble beginnings at 23-12 Queens Blvd, we’ve grown steadily, driven by a commitment to our customers, innovation, and the vibrant spirit of New York. Explore our journey below to see how LUB has evolved into a cornerstone of financial support for Queens and beyond, while staying true to our roots.
Liberty Union Bank (LUB) was established on May 17, 2010, in Rego Park, Queens, New York, with its headquarters at 23-12 Queens Blvd Suite 1b, ZIP 11374. Founded by a group of local entrepreneurs and community leaders, LUB aimed to serve the diverse financial needs of Rego Park’s residents and small businesses.
The bank opened with a modest capital base of $10 million, offering basic banking services including savings accounts, checking accounts, and small personal loans. Its location in the bustling commercial hub of Queens Blvd positioned it well to attract a steady stream of customers.
By 2013, LUB had grown its customer base to 2,500 accounts and expanded its staff to 25 employees. The bank introduced online banking services in 2012, aligning with industry trends and improving accessibility for tech-savvy customers.
In 2014, LUB opened its first branch outside Rego Park in nearby Elmhurst, capitalizing on the area’s growing population. This expansion increased its total assets to $50 million by the end of 2015.
The bank began offering commercial loans and mortgage products in 2016, targeting small businesses and first-time homebuyers in Queens. This move diversified its portfolio and boosted revenue, with total loans outstanding reaching $30 million by 2017.
LUB also invested in community initiatives, sponsoring local events and partnering with nonprofits to provide financial literacy workshops. These efforts strengthened its brand and deepened ties with the Rego Park community.
By 2018, LUB operated three branches across Queens, with total assets of $120 million and a workforce of 60 employees. The bank focused on consolidating its operations, optimizing internal processes, and enhancing customer service.
In 2019, LUB launched a mobile banking app with features like mobile check deposits and real-time transaction alerts. This upgrade led to a 20% increase in online and mobile banking users within a year.
Despite challenges posed by the 2020 global pandemic, LUB maintained steady growth by offering loan deferrals and participating in federal relief programs like the Paycheck Protection Program (PPP). By 2021, the bank’s assets reached $180 million, and its customer base grew to 10,000 accounts.
In 2022, LUB opened a fourth branch in Forest Hills, further expanding its footprint in Queens. The bank’s total assets climbed to $250 million, driven by strong demand for its mortgage and small business loan products.
LUB introduced green banking initiatives in 2023, offering preferential rates for eco-friendly projects and paperless banking incentives. This resonated with younger customers, boosting account openings by 15% annually.
As of 2025, Liberty Union Bank serves over 15,000 customers and employs 785 staff across its five branches in Queens and one in Brooklyn, opened in early 2025. With total assets approaching $350 million, LUB continues to pursue steady growth, focusing on digital innovation and community engagement while maintaining its commitment to personalized service.