EXHIBIT 21

United Western Bancorp, Inc. (d/b/a United Western Bancorp)

Subsidiaries of the Registrant

1.	United Western Bank - Organized Pursuant to a Federal Savings and Loan Charter
2.	Matrix Tower Holdings, LLC  – Formed in Delaware
3.	Matrix Financial Services Corporation (d/b/a Matrix Home Loan Center, Matrix Capital Mortgage and Matrix Capital Mortgage Corporation) - Incorporated in Arizona
4.	Matrix Insurance Services Corporation – Incorporated in Arizona
5.	The Vintage Group, Inc. - Incorporated in Texas
6.	Vintage Delaware Holdings, Inc. - Incorporated in Delaware
7.	Sterling Trust Company - Incorporated in Texas
8.	MSCS Ventures, Inc. - Incorporated in Colorado
9.	UW Asset Corp. – Incorporated in Colorado
10.	Matrix Bancorp Trading, Inc. – Incorporated in Colorado
11.	First Matrix Investment Services Corp. (d/b/a First Matrix Investment Services) – Incorporated in Texas
12.	First Matrix, LLC – Organized in Colorado
13.	Matrix Funding Corp. – Incorporated in Colorado
14.	Equi-Mor Holdings, Inc. – Incorporated in Nevada
15.	New Century Academy Property Management Group, LLC – Organized in Arizona
16.	Charter Facilities Funding, LLC – Organized in Minnesota
17.	Charter Facilities Funding IV, LLC – Organized in Colorado
18.	Community Development Funding I, LLC – Organized in Minnesota
19.	UWBK Fund Management, Inc. – Incorporated in Colorado
20.	Matrix Bancorp Capital Trust II - Organized Under Delaware Law
21.	Matrix Bancorp Capital Trust VI - Organized Under Delaware Law
22.	Matrix Bancorp Capital Trust VIII – Organized Under Delaware Law