Cathay Bank Pledges $600,000 to Support California Wildfire Recovery Efforts
In response to the devastating wildfires that have swept through Southern California, Cathay Bank, through the Cathay Bank Foundation, has pledged $600,000 in philanthropic donations to aid relief efforts. These funds will be allocated to several organizations that are on the front lines, providing emergency assistance, shelter, and recovery resources to communities impacted by the disaster.
The wildfires, fueled by dry conditions and strong winds, have ravaged thousands of acres, destroying homes, businesses, and natural landscapes while displacing countless families. As the fires continue to take a toll on affected regions, communities are rallying together to provide immediate relief and long-term rebuilding efforts. Cathay Bank recognizes the urgency of the situation and is stepping up to provide financial support to help those in need.
A Commitment to Community
Cathay Bank has a long-standing history of supporting the communities it serves, and in the wake of this natural disaster, the bank is reaffirming its commitment to Southern California.
“We are deeply committed to supporting our communities. This disaster is personal to us. Southern California has been our home for more than six decades. Los Angeles is our city, and where our team members and countless local businesses have built their lives,” said Chang M. Liu, Cathay Bank President and CEO. “Helping the city recover and rebuild is our civic duty.”
The wildfires have caused extensive damage, leaving many without homes, disrupting businesses, and stretching local emergency resources to their limits. As rebuilding efforts begin, financial assistance and community support will be critical to helping affected individuals and businesses regain stability.
Distribution of Funds
The $600,000 in donations from Cathay Bank and the Cathay Bank Foundation will be distributed among key relief organizations working diligently to provide aid and support. These organizations include:
- California Community Foundation – Wildfire Recovery Fund: Providing long-term support for rebuilding efforts and assisting families and businesses impacted by the fires.
- Dream Center Foundation: Offering emergency shelter, food, and other essential services to those displaced by the wildfires.
- Pasadena Community Foundation – Eaton Canyon Fire Relief & Recovery Fund: Assisting local relief efforts in Pasadena and surrounding communities that have been severely affected by the wildfires.
- World Central Kitchen: Providing meals to first responders, displaced individuals, and volunteers working tirelessly on relief efforts.
- LA Fire Department Foundation: Supporting the firefighters and emergency personnel on the front lines battling the wildfires and ensuring they have the resources needed to continue their life-saving work.
- Door of Hope: Offering support and shelter to families who have lost their homes or been forced to evacuate due to the fires.
- Habitat for Humanity Greater LA: Assisting in rebuilding efforts for families who have lost their homes, ensuring access to safe and affordable housing.
- Sherwood Forestry Service – Watch Duty: Providing fire surveillance, prevention, and response efforts to mitigate the ongoing wildfire threats and protect communities from further devastation.
Each of these organizations plays a vital role in wildfire recovery, addressing both immediate emergency needs and long-term rebuilding efforts. By directing funds to these groups, Cathay Bank ensures that resources reach those who need them most, whether through emergency relief, housing assistance, or community restoration projects.
Support Beyond Financial Assistance
In addition to financial contributions, Cathay Bank is also extending support to its clients who have been affected by the wildfires. The bank has launched a Client Assistance and Relief Program, designed to help homeowners and business owners navigate financial challenges brought on by the disaster. Through this program, eligible clients may receive assistance in the form of:
- Temporary mortgage payment relief for affected homeowners.
- Loan restructuring options for businesses impacted by the wildfires.
- Fee waivers and emergency financial services to help clients manage immediate financial needs.
- Dedicated support representatives to guide clients through the relief application process and provide financial counseling.
This initiative is part of Cathay Bank’s broader effort to ensure that individuals and businesses recover from the disaster with the support they need. The bank understands that financial security plays a crucial role in disaster recovery and is committed to providing solutions tailored to the needs of its clients.
Long-Term Impact and Recovery Efforts
While the immediate focus is on emergency relief, Cathay Bank recognizes that the road to recovery will be long and complex. The aftermath of wildfires includes challenges such as rebuilding homes and businesses, restoring infrastructure, and addressing environmental damage. By partnering with organizations dedicated to long-term recovery, Cathay Bank aims to contribute to sustainable solutions that will help affected communities rebuild stronger than before.
Cathay Bank’s involvement in disaster relief extends beyond monetary donations. Employees of the bank are also engaging in volunteer efforts, supporting local food banks, distributing supplies, and assisting with community rebuilding projects. This hands-on approach reflects the bank’s deep-rooted commitment to making a tangible difference in the lives of those affected.
A Message of Hope
Deborah Ching, Chair of the Cathay Bank Foundation, emphasized the importance of standing by the community in times of crisis.
“Cathay Bank and the Foundation have a long history of supporting nonprofits in the areas we serve,” Ching stated. “We are proud to provide assistance to this resilient and vibrant community in this time of need.”
The wildfires have tested the strength and resilience of Southern California communities, but through collective efforts, recovery is possible. Cathay Bank hopes that its contribution will serve as a beacon of hope for those impacted, reminding them that they are not alone in this journey toward rebuilding and healing.
Call to Action
As recovery efforts continue, Cathay Bank encourages others to support wildfire relief initiatives. Whether through donations, volunteer work, or advocacy, every contribution makes a difference in helping communities recover and thrive once again.
For those who wish to support wildfire relief efforts, donations can be made directly to the organizations mentioned above. Additionally, businesses and individuals looking for assistance through Cathay Bank’s relief program can visit their nearest branch or contact customer service for more information.
