East West Bank Commits $6 Million to AAPI Organizations and Initiatives
May 12 2022 - 2:19PM
Business Wire
In recognition of Asian American and Pacific Islander Heritage
Month (AAPIHM), East West Bank today reaffirmed its continued
commitment to the Asian American and Pacific Islander (AAPI)
community. As part of its second-year pledge to the AAPI Giving
Challenge, East West will donate upwards of $6 million to key
nonprofits and initiatives supporting the AAPI movement for
inclusion, equality, and justice.
In 2021, East West Bank pledged $25 million to the AAPI Giving
Challenge—a five-year commitment to bring resources to AAPI
organizations and causes. The Challenge was created by The Asian
American Foundation (TAAF), a nonprofit that provides funding and
resources to support AAPI advocacy, power and representation. Last
year, part of East West Bank’s pledge was used to fund the STAATUS
Index, a comprehensive national assessment of attitudes and
stereotypes toward Asian Americans in the U.S.
“East West Bank was one of the first corporations to step up and
accept TAAF’s Giving Challenge,” said Norman Chen, chief executive
officer of TAAF. “As a business that was founded to serve Asian
Americans, East West has consistently demonstrated that investing
in underserved communities is both good for business and for
strengthening the fabric of our society. We applaud the bank’s
long-standing commitment to advancing a greater sense of belonging
and prosperity for AAPI communities, and we look forward to seeing
the continued impact of the bank’s commitments in years ahead.”
“May is AAPI Heritage Month, an opportunity to recognize the
contributions of the diverse AAPI community to our country,” said
Dominic Ng, Chairman and CEO of East West Bank. “East West Bank was
founded on the principle of serving communities undermined by
discrimination and bias. Supporting and uplifting our communities
is part of our DNA. And there’s more to do in reversing the
long-standing underinvestment in the AAPI community.”
Some of the AAPI organizations that East West Bank has been
investing in include the following:
- Pacific Bridge Arts Foundation, a nonprofit that supports and
celebrates Asian Americans, Native Hawaiians, and Pacific Islanders
in arts and culture. Pacific Bridge will be hosting its flagship
arts and culture event IDENTITY LA on Saturday, May 28, at 5:00
p.m. PT, as part of AAPIHM.
- Stop AAPI Hate, a national coalition founded by AAPI Equity
Alliance, Chinese for Affirmative Action, and the Asian American
Studies Department of San Francisco State University, which tracks
incidents of hate and discrimination against AAPI in the U.S.
- Asian Pacific American Leadership Fund (APALF) a non-partisan
nonprofit designed to help prepare and better equip AAPI leaders
for public service and civic involvement.
- Gold House, the leading API changemaker community, fighting
together for socioeconomic equity by uniting, investing in, and
promoting API creativity and companies.
“East West Bank has been a pioneer in supporting arts and
culture as a way to bridge the East and West,” said Bing Chen,
founder of Gold House. “From financing movies to supporting AAPI
artists and cultural institutions, East West Bank has advanced
Asian American representation to help reshape public opinion.”
Greater representation among civic and elected officials also is
needed to improve the quality of life for Asian Americans,
according to James Lau, Executive Director of APALF. “We appreciate
the engagement and support of East West Bank, which helps us train
political candidates for these types of policy-making roles,” adds
Lau.
Addressing diversity and discrimination issues has been one of
the three priorities of East West Bank’s community investment
efforts. Through its giving, volunteer efforts, and advocacy, East
West has supported AAPI organizations such as Asian Americans
Advancing Justice; Asian Pacific Community Fund; OCA-Asian Pacific
American Advocates chapters in California, New York, Texas, and
Georgia; Self-Help for the Elderly; and Center for Asian Americans
United for Self-Empowerment, among others.
About East West Bank
East West Bank, the largest independent bank headquartered in
Southern California, provides financial services that help
customers reach further and connect to new opportunities. East West
operates over 120 locations in the United States and abroad. In the
United States, East West has locations in California, Georgia,
Illinois, Massachusetts, Nevada, New York, Texas, and Washington.
For more information on East West, visit www.eastwestbank.com.
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Janie Beaman janie.beaman@eastwestbank.com 626.768.6261
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