LOS ANGELES, March 19, 2021 /PRNewswire/ -- Cathay Bank
announced today a $1 million donation
to the Cathay Bank Foundation to support organizations that work to
promote diverse communities and combat anti-Asian hate crimes and
xenophobia.
Throughout the coronavirus pandemic, the U.S. has witnessed the
struggle of Asian American and Pacific Islanders against increased
violence and harassment fueled by prejudice, hatred and xenophobia.
Recent attacks throughout the country reflect a significant
increase in anti-Asian hate crimes.
"Racism and xenophobia are antithetical to our values and an
affront to what we stand for," stated Chang
M. Liu, Cathay Bank president and CEO. "We believe in the
equality of all people, treating them with fairness, empathy and
acceptance. We condemn this violence against Asian Americans as
well as against other ethnic groups and will continue to work and
support efforts for greater equality in our business, community and
society."
Dunson Cheng, executive chairman
of the board, echoed Liu's statement and call to action. "While we
all believe in the importance of the fight against anti-Asian
sentiment and violence, actions speak louder than words," he noted.
"Cathay Bank wants to show our support by providing funds to
organizations that serve the Asian American communities and provide
invaluable education to the community at large."
Cathay Bank Foundation has been a longstanding supporter of the
following organizations in their fight against hate crimes and
discrimination in the Asian American communities: Rising Sun Center
for Opportunity, Asian Americans Advancing Justice, National Asian
American Coalition, National Diversity Coalition, Pacific
Asian Consortium in Employment (PACE), Asian Pacific Community
Fund, Center for Asian Americans United for Self-Empowerment
(CAUSE), Vermont Slauson EDC and East Bay Asian Local Development
Corp (EBALDC). The $1 million
donation will further the foundation's efforts in supporting such
and other similar organizations' ongoing efforts in combating
discrimination.
Cathay Bank was founded in 1962 to meet a need for banking
during a period when Asians often experienced difficulties
accessing financial services. Then, as now, we are committed to our
purpose to open doors to opportunity to help our customers,
employees and communities thrive. We will continue our financial
donations and volunteer service to contribute to our local
communities and those in need, including support for education,
affordable housing, business development, health, and safety.
About Cathay Bank
Cathay Bank, a subsidiary of Cathay
General Bancorp (Nasdaq: CATY), offers a wide range of financial
services through nine states in the U.S. as well as a branch in
Hong Kong and representative
offices in Beijing, Shanghai, and Taipei. Founded in 1962 to support
Los Angeles' growing Chinese
American community, in the past half century the bank has expanded
and grown with its customers, providing them with the tools and
services they need to achieve their goals. Learn more
at cathaybank.com. FDIC insurance coverage is limited to
deposit accounts at Cathay Bank's U.S. domestic branch
locations.
Contact:
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Chris Lu
|
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626-279-3837
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SOURCE Cathay Bank