Cathay Bank invests $1m to combat Anti-Asian Hate

Cathay Bank Foundation has announced a million dollar investment in diversity education to combat Anti-Asian Hate and xenophobia.

The bank will give $100,000 each to five non-profit organisations, including Stop AAPI Hate; the Asian Pacific Policy and Planning Council (A3PCON); the Chinese for Affirmative Action (CAA); the Asian American Education Project (AAEdu); and the Asian Americans Advancing Justice – Los Angeles. Another 10 additional organisations will each receive a donation ranging between $15,000 and $50,000. These grants are part of the distribution of the $1 million donation from Cathay Bank to the Foundation earlier this year; to be used towards supporting organisations and work to promote diverse communities and combat anti-Asian hate crimes and xenophobia.

“We are proud to support these esteemed organisations in the fight against racism and xenophobia,” stated Peter Wu, Vice Chairman of Cathay Bank and Chairman of Cathay Bank Foundation. “We believe these donations will go a long way toward fostering a more inclusive culture for all.”

ADDRESSING HATE

The strategy behind the donation is to “invest in diversity education; and plant seeds of change in perceptions and attitudes towards Asians for future generations,” explained Deborah Ching, Co-Chair of the Cathay Bank Foundation. “We support our community who is working tirelessly to address hate violence against Asians and others; by providing important community resources.”

Manjusha Kulkarni, the representative of Stop AAPI Hate, A3PCON and CAA, thanked Cathay Bank Foundation for its donation. Stop AAPI Hate, formed in 2020, runs the Stop AAPI Hate Reporting Center that tracks incidents of hate and discrimination against Asian Americans and Pacific Islanders in the US Stop AAPI Hate recorded 6,603 incidents reported between 19 March 2020 and 31 March 2021. A3PCON is a coalition of community-based organisations that advocates for the rights and needs of Asian and Pacific Islander American (APIA) communities in the greater Los Angeles area; with a focus on low income, immigrant, refugee and other disadvantaged sectors of the population. 

CAA advocates for systemic change that protects immigrant rights; promotes language diversity; and remedies racial and social injustice for Asian American and Pacific Islander communities; working to end the US Department of Justice’s practice of targeting Chinese Americans for espionage-related crimes. 

“We are grateful for the resources provided by Cathay, which will enable our coalition to continue to raise awareness about anti-Asian hate and discrimination; and seek to address the racism through the provision of resources and assistance to AAPI community members,” said Kulkarni.

TACKLING ANTI-ASIAN VIOLENCE

“As we tackle the current tide of anti-Asian violence, we appreciate the foresight of the Cathay Bank Foundation to support long term education to challenge the roots of ignorance and misunderstanding; especially with our youth from all backgrounds,” added Stewart Kwoh, the Co-Founder of AAEdu. The organisation creates lesson plans that educate youth and children about the true histories of Asian Americans and Pacific Islanders; with the goal of having long-term impact through future generations. 

Connie Chung Joe, CEO of Asian Americans Advancing Justice in Los Angeles, also expressed her gratitude for the support. Asian Americans Advancing Justice – Los Angeles advances the civil and human rights for Asian Americans and builds and promotes a fair and equitable society for all. The organisation serves more than 15,000 individuals and organisations every year. The Cathay Bank Foundation has supported this organisation since 2016.

“As we continue to see the rise in anti-Asian hate as our community is unfairly scape-goated for this pandemic, we applaud our API business leaders like Cathay Bank who are committed to fighting against insidious racism and supporting our community members,” commented Joe. “We are so grateful to Cathay Bank’s support as we work towards a just and equitable world.”

ADDITIONAL SUPPORT

Another 10 organisations will also receive a grant, ranging from $15,000 to $50,000. They include:

• Chinese American Museum ($50,000)
• LAAUNCH ($50,000)
• Southern California Public Radio ($50,000)
• LA vs Hate ($50,000)
• Asian Americans Advancing Justice-San Francisco-Asian Law Caucus ($50,000)
• UCLA Labor Center ($50,000)
• Asian Law Alliance ($15,000)
• Center for Asian Americans United for Self-Empowerment ($15,000)
• Chinatown Service Center ($15,000)
• Coalition for Humane Immigrant Rights ($15,000)

Did you know that around 8 out of 10 Asian Americans are discriminated against in the US? Click here to read more.