Donor Profile: Cathay Bank
Paul Wong, Assistant Vice President & Branch Manager (Richmond Branch), and Bill Chan, Branch Manager (San Francisco Branch) present AnewAmerica CEO, Viola Gonzales and COO, Robert Lattimore, with a check for support for AnewAmerica's Business Incubator Program and Financial Literacy services.
Donor Spotlight: An Interview with Esther Wee, Senior Vice President & CRA Officer at Cathay Bank
1. Why does Cathay Bank support the work of AnewAmerica?
AnewAmerica helps new Americans, especially those below the extremely low-income limit, to attain economic self-sufficiency. Their three-year micro-business development program provides thorough and comprehensive training to about 1,200 individuals annually. AnewAmerica is results oriented and its programs lead to job creation. It provides financial literacy education in three languages to a broad spectrum of families in the Bay Area.
2. Why is it important to enable low-income new Americans to learn micro-enterprise development skills?
Historically and globally, micro-enterprises represent an efficient self-sufficiency and job creation platform. However, it is through training programs like AnewAmerica’s micro-business development program that many micro-entrepreneurs are armed with business management skills that ensure the long-term viability and success of the micro-enterprises.
3. Cathay Bank is a strong supporter of AnewAmerica’s work as a whole, and specifically our work in financial literacy education. What do you see as the value of providing financial literacy education to new American entrepreneurs?
Cathay Bank is the oldest bank in the country founded by Chinese Americans. Over the past 50 years, we have witnessed the growth and success of many of our customers - from micro-enterprises to multimillion dollar corporations; we know what it takes for a new American to run a strong and successful business. New entrepreneurs today face an even more difficult and challenging world. Financial literacy education will help optimize resources to result in a win-win for all, the entrepreneur and the community. Cathay Bank applauds AnewAmerica for their strong commitment to community development and the success of their financial literacy programs. To learn more about Cathay Bank’s efforts to serve communities, visit www.cathaybank.org/AboutUs.asp.