UCBC Union Community Bancorp (MM)

Union Community Bancorp (the "Company") (NASDAQ:UCBC), an Indiana corporation, which is the holding company for Union Federal Savings & Loan Association (the "Association"), announced today that Union Community Bancorp has declared a cash dividend of $0.15 on each share of its Common Stock for its first fiscal quarter ending March 31, 2006. The dividend is payable on March 16, 2006 to the holders of record on March 9, 2006. This equates to an annual dividend rate of $0.60 per share. Union Community Bancorp was formed in 1997 and acquired all the shares of Union Federal Savings & Loan Association. The Association has been headquartered in Crawfordsville, Indiana since its establishment in 1913 and operates six offices located in Montgomery, Fountain, Warren and Tippecanoe Counties. The Company had $260.1 million in total assets and $33.1 million in shareholders' equity as of December 31, 2005. There are currently 1,939,000 shares of stock outstanding which are traded on NASDAQ under the symbol "UCBC".