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.	UW Trust Company (f/k/a 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.	UW Investment Services, Inc. — 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.	Charter Facilities Funding 5, LLC — Organized in Colorado
19.	Community Development Funding I, LLC — Organized in Minnesota
20.	UWBK Fund Management, Inc. — Incorporated in Colorado
21.	DCC Holdings, LLC — Organized in Colorado
22.	Western Communities, Inc. — Incorporated in Colorado
23.	Matrix Bancorp Capital Trust II — Organized Under Delaware Law
24.	Matrix Bancorp Capital Trust VI — Organized Under Delaware Law
25.	Matrix Bancorp Capital Trust VIII — Organized Under Delaware Law