The only problem I see here is that the parent financial corporation is called University Islamic Financial, while the bank itself is simply called University Bank of Michigan. So, not exactly full disclosure there as to the fact that they are not just a financial institution, they are also a religious institution. And then once some customers figure out what is going on, they bail and close their accounts.
Hi RR2,
It is the other way around and more banks will follow.
The bank is a subsidiary of Michigan-based University Bank, and its leaders say they have talked recently with executives from two national banks hoping to learn more about the business.
Slowly they chip away.