Community

Jill Sung, the President of Abacus Federal Savings Bank (“the Bank”). announced that Independent Community Bankers of America (ICBA) has allocated $1,500 to the Bank to donate to a not-for-profit Chinese community organization of the Bank’s choice. The Bank has chosen New York Chinese School (The School) to receive this donation. ICBA is a national bankers’ association formed to advocate for, and support, independent community banks throughout the United States. There are over 3,000 community banks that are members of ICBA. Jill Sung has served as a member of the ICBA Minority Bank Council since 2011. She has also served as a Director-At-Large of ICBA’s Board since 2021. New York Chinese School has served the community for over 100 years. It was established in 1909 under the supervision of the Chinese Consolidated Benevolent Association. Many lawyers, accountants, and other professionals in the community have attended New York Chinese School and benefited from the curriculum offered by the School. The Bank has agreed to match the ICBA’s donation with the Bank’s own funds of $3,000. Additionally, the Bank has obtained matching funds of $3,000 from the Sung’s Foundation. Sung’s Foundation was founded by the Bank’s Chairman of the Board, Thomas Sung, to help the community. With these donations from ICBA, the Bank, and Sung’s Foundation, the total sum to be awarded to New York Chinese School is $7,500.