FAIB: SERVING OUR COMMUNITYSince its founding, FAIB has a mission to provide professional and caring banking services to New York’s Chinese American community, especially those under-banked due to educational, language or cultural barriers. The Bank has since been intimately involved in supporting the community in many ways, including joining not-for-profit organizations, participating in local events and making charitable donations. Many of the Bank’s senior officers also serve on the governing boards of many community organizations that promote the community’s economic development, job growth, health and social services, disaster relief, education, civic responsibility, and arts and culture.
SELECT COMMUNITY SERVICE INITIATIVES
Over 60 FAIB employees participated in 67 community events. The Bank has made over $100,000 in cash and in-kind donations and other support to a wide range of non-profit organizations in the Asian/Chinese American community, including but not limited to the following:
FAIB is committed to the empowerment of underserved youth in our community through donations in support of APEX’s youth programs, such as one-to-one mentoring relationships and educational programs. APEX was founded to support the development and healthy identities of future leaders by allowing students with limited resources to have the advantage of a sustained mentoring engagement for up to 8 years.
FAIB was honored to be selected the sole business sponsor of the Brooklyn Community Improvement Association’s (“BCIA”) Clean Street Initiative in 2014 for Brooklyn Sunset Park’s 8th Avenue business district where the Bank’s headquarters is located. This helps to address the community’s most pressing needs to improve the neighborhood’s physical environment for both its residents and small businesses.
FAIB is a long-time sponsor of Cabrini Immigrant Services of New York (“CIS”), which provides essential services to immigrants in our community, such as legal services, English and citizenship classes, and workshops to educate about important immigrant issues. The Bank’s board director James Lee has for years served on the board of CIS. Besides cash donations, the Bank provides staff assistance to Cabrini’s Annual Gala fundraising program. In 2014 the Bank was awarded the Heart of Cabrini. See a local Chinese newspaper report (in Chinese) and a photo of FAIB’s president attending the event.
FAIB sends weekly volunteers to the Cabrini Food Pantry Program to help unload shipments and distribute food to those in need in the community. Click here for photos of FAIB staff helping out at the Food Pantry.
Through supporting the work of the Chinatown Manpower Project (“CMP”), FAIB helps in their efforts to provide new immigrants with tools for economic self-sufficiency. CMP has a distinct track record in serving the Asian American community by equipping individuals with job and educational skills, leadership training, and entrepreneurship opportunities.
FAIB is a long-time collaborator with the Chinatown Partnership LDC (“CPLDC”) which brought together all segments of the Chinatown community to rebuild and develop Chinatown’s economy after the 9/11 attacks. The Bank’s Advisory Board Co-Chairperson has for years served on the board of CPLDC, and was instrumental in the formation of the Chinatown Business Improvement District. Each year the Bank sponsors many of their programs to bring visitors and business to the community and to improve the neighborhood, such as the clean streets initiative, streetscape improvements, enhanced lighting, and wayfinding projects.
Chinatown YMCA has served the Chinatown and Lower East Side communities since the 1970’s by providing a rich variety of programs for people of all ages. FAIB is glad to continuously support Chinatown YMCA and their cause to nurture the potential of kids, promote healthy living, and foster a sense of social responsibility. The Bank’s President CEO, Mark Ricca, currently serves on its board.
FAIB is a long-time corporate donor for the Chinese-American Planning Council (“CPC”), the largest social services agency in New York’s Chinese American community, including major cash donations for building CPC’s Queens senior center. FAIB also support CPC Brooklyn for participating Lunar New Year celebrations and anniversary dinners. Chester Lee, director of the board of First American International Corp., holding company of FAIB, previously served as Chairman on the CPC board.
FAIB is proud to be a community partner of The Fukien Benevolent Association of America (“FBAA”) which has served the Chinese community for over 70 years. We support their mission to help people in need, especially new immigrants by providing services such as health screening, health information, legal and financial education and assistance, social services and more. Each year for over 10 years the Bank has provided funding support for FBAA’s magazine, The Voice of Chinese that is distributed to Fujianese immigrants across the New York Tristate area.
For over 40 years, ISS has been providing after school activities for thousands of children in the local community. ISS was founded with the vision of providing vital services to newly arriving immigrants. FAIB is glad to support ISS's vision, bringing meaningful banking services, financial literacy and guidance to the community's most recent Chinese immigrants.
As a Minority Bank as designated by the Federal Deposit Insurance Corporation (“FDIC”), FAIB understands the significance of preservation and presentation of the history, heritage, and experiences of people of Chinese descent in the United States. FAIB is a sponsor of the Museum of Chinese in America. Through its thought-provoking work, the Museum makes Chinese American history accessible to the general public, encouraging the understanding and appreciation of a rich history and cultural dialogue.
Rotary is the world’s first service club; founded in Chicago, Illinois on February 23, 1905. Rotarians worldwide are typically business and professional leaders united to provide humanitarian service, encourage high ethical standards in all vocations, and help build goodwill and peace around the world. Rotary has over 1 million members belonging to more than 30,000 clubs in over 180 countries.
Four of our board directors are Rotarians, including our President and CEO Mark Ricca, Alfonso Lau, and David Chew, who are from the New York Chinatown Rotary Club, and Edward Lau from the Rotary Club of Hong Kong.
FAIB has supported the Chinatown Rotary Club in its fundraising programs since 2004, and will continue supporting them in the future.
Additional Organizations We Support:
- Chinese American Restaurant Service Association
- Chinese American Society of CPAs
- The Chinese Chamber of Commerce of New York
- Brooklyn Chinese American Association