Insights by Cathay

Cathay Bank Foundation recognized the high school senior recipients of the 2020 Cathay Bank Foundation Scholarship on July 10 at a virtual award ceremony. Each recipient will receive a $1,000 scholarship used to cover tuition costs for attending a college or university as a full-time student this fall.

“Cathay Bank Foundation believes that young people are the future and there is nothing more important than investing in them. We are committed to supporting youth residing in our business service areas to fulfill their dreams to achieve higher education,” said Bruce Gumbiner, Secretary and Director of Cathay Bank Foundation, and FVP, Director of Community Development of Cathay Bank. “This year, we received applications from many talented young people who show extraordinary leadership and great contributions in community service. We look forward seeing them flourish into leaders of tomorrow.”

Cathay Bank Foundation received 444 scholarship applications from California, New York, Washington, Illinois, Texas, Maryland, Massachusetts, New Jersey, and Nevada. Following an online application process, Cathay Bank engaged employees nationwide to review and score the essays. The program administrator Asian Pacific Community Fund analyzed the scores and selected the scholarship recipients.

The Cathay Bank Foundation, founded in 2002, raises and administers funds for many community-based nonprofit organizations. Its mission is to create opportunities in the areas of affordable housing, community, and economic development and education. The Foundation also supports programs focusing on culture and arts, health and welfare, and environmental and human services that benefit the communities at large.

The outstanding scholarship recipients are as follows:

Related Link:

• Cathay Bank Foundation announces its 2021 scholarship recipients