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Broadway Federal Bank was a community focused bank founded in 1946 and based in Los Angeles. As of 2020, it had three traditional branches and one loan production office. [1] It was the last remaining traditionally black-community oriented bank headquartered west of Dallas. [2]
In 1995 the credit union changed its name to California Credit Union. [1] A branch of the credit union was held up by three armed robbers in 1996. [5] In 2011, the credit union reacquired the building at 701 N. Brand in Los Angeles as its headquarters from MPG Office Trust. The credit union had originally sold the building in 2006. [6]
Since 2014, the bank has been the official bank of the USC Trojans, the athletic program of the University of Southern California. [16]In 2016, the Banc of California announced a partnership with Los Angeles FC, a Major League Soccer franchise, and a 15-year, $100 million deal with the club for the naming rights to their stadium Banc of California Stadium in Los Angeles, which opened in 2018.
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Union Bank Plaza was also acquired by Waterbridge Capital for roughly $110,000,000 in March 2023. [ 6 ] Currently the 22nd tallest building in Los Angeles, the complex was named a Los Angeles Historic Cultural Monument in 2020, the first skyscraper in Los Angeles to earn that distinction.
Magnolia Square lies within Los Angeles City Council District 8. [2]The neighborhood of Magnolia Square is split between two neighborhood councils: the Empowerment Congress Southeast Area Neighborhood Council serves Magnolia Square residents Century Boulevard and 110th Street [3] [4] and the Harbor Gateway North Neighborhood Council serves the area between 110th Street and Imperial Boulevard.