EAST WEST BANK In 1973, East West Bank opened for business in the heart of Los Angeles’ Chinatown, becoming the first federally chartered savings institution focused on serving the financial needs of Asian Americans and Pacific Islanders. The Bank is now one of the 30 largest publicly traded commercial banks in the U.S. and the largest certified minority depository institution (MDI) in the continental U.S. They were able to accomplish this by starting true to their legacy of supporting and uplifting underserved communities.
Two examples of the East West Bank’s recent impact include:
• In 2020, East West Bank associates worked tirelessly to support their customers through the Paycheck Protection Program (PPP) loans application process, which helped to minimize the pandemic’s socioeconomic impacts. They funded $1.8 billion in PPP loans for 7,400 small business and nonprofit customers, saving nearly 180,000 jobs.
• Over the last two years, East West Bank increased its community investment and contributed more than $6.3 million to organizations supporting communities greatly impacted by the pandemic and racial injustice, such as Voto Latino Foundation’s Immigrant Neighbor Fund, Stop AAPI Hate, Asian American Advancing Justice, Center for Asian Americans for Self-Empowerment, to name a few.
