Document:

NUMBER                                                         ___________ UNITS
U-__________

SEE REVERSE FOR
CERTAIN DEFINITIONS

                      WESTERN UNITED FINANCIAL CORPORATION

                                                                  CUSIP: _______

                UNITS CONSISTING OF ONE SHARE OF COMMON STOCK AND
                ONE WARRANT TO PURCHASE ONE SHARE OF COMMON STOCK

          THIS CERTIFIES THAT ______________________________________________ is
the owner of ____________________ Units.

          Each Unit ("Unit") consists of one (1) share of common stock, par
value $.01 per share ("Common Stock"), of Western United Financial Corporation,
a Delaware corporation (the "Corporation"), and one warrant (the "Warrant"). The
Warrant entitles the holder to purchase one (1) share of Common Stock for
[$6.00][$7.50] per share (subject to adjustment). The Warrant will become
exercisable on the later of (i) the completion of the initial acquisition by the
Corporation of one or more banks, thrifts and their respective holding companies
through a merger, capital stock exchange, asset acquisition, exchangeable share
transaction, stock purchase or other similar business combination, and (ii)
_____________________, 2008 [one year after the effective date of the
registration statement relating to the initial public offering of the Units],
and will expire unless exercised before 5:00 p.m., New York City time, on
____________, 2011 [four years after the effective date of the registration
statement relating to the initial public offering of the Units], or earlier upon
redemption (the "Expiration Date"). The Common Stock and Warrants comprising the
Units represented by this certificate are not transferable separately prior to
___________, 2007 [the 90th day after the effective date of the registration
statement], subject to earlier separation in the discretion of Sandler O'Neill &
Partners, L.P. The terms of the Warrants are governed by a Warrant Agreement,
dated as of _______, 2007, between the Corporation and Wells Fargo Bank, N.A.
(the "Warrant Agent") and are subject to the terms and provisions contained
therein, all of which terms and provisions the holder of this certificate
consents to by acceptance hereof. Copies of the Warrant Agreement are on file at
the office of the Warrant Agent at ____________, and are available to any
Warrant holder on written request and without cost.

         This certificate is not valid unless countersigned by the Transfer
Agent and Registrar of the Corporation.

         Witness the facsimile seal of the Corporation and the facsimile
signature of its duly authorized officers.

                      WESTERN UNITED FINANCIAL CORPORATION
                                    CORPORATE
                                    DELAWARE
                                      SEAL
                                      2006

By: ______________________________                ______________________________
                  President                                            Secretary

Countersigned By:  _________________
                       Transfer Agent

                                       1

<PAGE>

                      WESTERN UNITED FINANCIAL CORPORATION

The Corporation will furnish without charge to each unit holder who so requests,
a statement of the powers, designations, preferences and relative,
participating, optional or other special rights of each class of stock or series
thereof of the Corporation and the qualifications, limitations, or restrictions
of such preferences and/or rights.

The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

<TABLE>
<S>                                                                     <C>
TEN COM -     as tenants in common                                       UNIF GIFT MIN ACT - ______Custodian ______
TEN ENT -       as tenants by the entireties                                        (Cust)                  (Minor)
JT TEN -        as joint tenants with                                                     under Uniform Gifts to
                right of survivorship and                                                 Minors Act __________
                not as tenants in common                                                                  (State)
</TABLE>

         Additional abbreviations may also be used though not in the above list.

          FOR VALUE RECEIVED, ___________________________ HEREBY SELL, ASSIGN
AND TRANSFER UNTO

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

----------------------------------------

----------------------------------------

--------------------------------------------------------------------------------
(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

--------------------------------------------------------------------------------

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_______________________________________________________________________ UNITS
REPRESENTED BY THE WITHIN CERTIFICATE, AND DO HEREBY IRREVOCABLY CONSTITUTE AND
APPOINT ________________ ATTORNEY TO TRANSFER THE SAID UNITS ON THE BOOKS OF THE
WITHIN NAMED CORPORATION WITH FULL POWER OF SUBSTITUTION IN THE PREMISES.

DATED: _______________________      ____________________________________________

                                        NOTICE: The signature to this assignment
                                        must correspond with the name as written
                                        upon the face of the certificate in
                                        every particular, without alteration or
                                        enlargement or any change whatever.

Signature(s) Guaranteed:

-----------------------------------------
THE SIGNATURE(S) MUST BE GUARANTEED BY
AN ELIGIBLE GUARANTOR INSTITUTION
(BANKS, STOCKBROKERS, SAVINGS AND LOAN
ASSOCIATIONS AND CREDIT UNIONS WITH
MEMBERSHIP IN AN APPROVED SIGNATURE
GUARANTEE MEDALLION PROGRAM, PURSUANT TO
SECURITIES AND EXCHANGE COMMISSION RULE
17Ad-15).

                                       2NUMBER                                                        ___________ SHARES
-------

                      WESTERN UNITED FINANCIAL CORPORATION
              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE
                                  COMMON STOCK

                                                                 SEE REVERSE FOR
                                                             CERTAIN DEFINITIONS

THIS CERTIFIES THAT                                           CUSIP: ___________

IS THE OWNER OF

       FULLY PAID AND NON-ASSESSABLE SHARES OF THE PAR VALUE OF $0.01 EACH
                             OF THE COMMON STOCK OF

                      WESTERN UNITED FINANCIAL CORPORATION

TRANSFERABLE ON THE BOOKS OF THE COMPANY IN PERSON OR BY DULY AUTHORIZED
ATTORNEY UPON SURRENDER OF THIS CERTIFICATE PROPERLY ENDORSED. THIS CERTIFICATE
IS NOT VALID UNLESS COUNTERSIGNED BY THE TRANSFER AGENT AND REGISTERED BY THE
REGISTRAR. WITNESS THE SEAL OF THE COMPANY AND THE FACSIMILE SIGNATURES OF ITS
DULY AUTHORIZED OFFICERS.

DATED:

                      WESTERN UNITED FINANCIAL CORPORATION
                                    CORPORATE
                                    DELAWARE
                                      SEAL
                                      2006

By: ______________________________                ______________________________
                  President                                            Secretary

By:  _____________________________
               Transfer Agent

                                       1

<PAGE>

The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

<TABLE>
<S>                                                                      <C>
TEN COM -         as tenants in common                                   UNIF GIFT MIN ACT - ______Custodian ______
TEN ENT -       as tenants by the entireties                                        (Cust)                  (Minor)
JT TEN -        as joint tenants with                                                     under Uniform Gifts to
                right of survivorship and                                                 Minors Act __________
                not as tenants in common                                                                  (State)
</TABLE>

         Additional abbreviations may also be used though not in the above list.

                      WESTERN UNITED FINANCIAL CORPORATION

         Western United Financial Corporation (the "Company") will furnish
without charge to each stockholder who so requests the powers, designations,
preferences and relative, participating, optional or other special rights of
each class of stock or series thereof of the Company and the qualifications,
limitations, or restrictions of such preferences and/or rights. This certificate
and the shares represented hereby are issued and shall be held subject to all
the provisions of the Amended and Restated Certificate of Incorporation of the
Company and all amendments thereto and resolutions of the Board of Directors
providing for the issue of shares of Preferred Stock (copies of which may be
obtained from the secretary of the Company), to all of which the holder of this
certificate by acceptance hereof assents.

          FOR VALUE RECEIVED, ___________________________ HEREBY SELL, ASSIGN
AND TRANSFER UNTO

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

----------------------------------------

----------------------------------------

--------------------------------------------------------------------------------
(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

_____________________________________________________________________ SHARES OF
THE CAPITAL STOCK REPRESENTED BY THE WITHIN CERTIFICATE, AND DO HEREBY
IRREVOCABLY CONSTITUTE AND APPOINT ____________________ ATTORNEY TO TRANSFER THE
SAID STOCK ON THE BOOKS OF THE WITHIN NAMED CORPORATION WITH FULL POWER OF
SUBSTITUTION IN THE PREMISES.

DATED: _______________________

                                        NOTICE: The signature to this assignment
                                        must correspond with the name as written
                                        upon the face of the certificate in
                                        every particular, without alteration or
                                        enlargement or any change whatever.

Signature(s) Guaranteed:

-----------------------------------------

THE SIGNATURE(S) MUST BE GUARANTEED BY
AN ELIGIBLE GUARANTOR INSTITUTION
(BANKS, STOCKBROKERS, SAVINGS AND LOAN
ASSOCIATIONS AND CREDIT UNIONS WITH
MEMBERSHIP IN AN APPROVED SIGNATURE
GUARANTEE MEDALLION PROGRAM, PURSUANT TO
SECURITIES AND EXCHANGE COMMISSION. RULE
17Ad-15).

         The holder of this certificate shall be entitled to receive funds from
the Trust Account (as such term is defined in the Amended and Restated
Certificate of Incorporation of the Company) only in the event of the Company's
liquidation upon failure to consummate a Business Combination (as such term is
defined in the Amended and Restated Certificate of Incorporation of the Company)
or if the holder seeks to convert his respective shares into cash upon a
Business Combination which he voted against and which is actually completed by
the Company. In no other circumstances shall the holder have any right or
interest of any kind in or to the Trust Account.

                                       2

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