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Bank,

  • Date Submitted: 10/28/2010 02:47 AM
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United Commercial Bank and EI banco22

As the United States grows more diverse, tailoring service offerings to the needs and preferences of specific ethnic groups becomes more important. In fact, the nation’s largest retail bank, Bank of America, was founded as the Bank of Italy by A.P. Gianini shortly after San Francisco’s 1906 earthquake in order to serve the Italian-American community.
Today, two of the most creative service offerings in banking that target ethnic communities are located in the United States. United Commercial Bank is the largest bank serving San Francisco’s Asian-American community and focuses on business and real estate lending within this famously entrepreneurial group. More recently, EI Banco de Nuestra Comunidad has designed a unique retail banking operation for the burgeoning Latino community in Atlanta. Both of these communities are characterized by rapid growth, unique product needs, and a cultural identity separate from that of the general banking market.

SERVING THE CHINESE COMMUNITY: UNITED COMMERCIAL BANK
United Commercial Bank (UCB), a San Francisco-based bank that focuses on the Chinese-American community, has $6.32 billion in assets and a market capitalization of approximately $1.4 billion. This bank has 46 branches in California, representative offices in Taiwan and China, and a branch in Hong Kong. Competitors serving the Asian market include East West Bancorp, Nara Bancorp, Hanmi Bancorp, Cathay General Bancorp, and Wilshire Bancorp.
UCB was founded in 1974 as a thrift operation with a focus on time deposits as its primary product. The bank has grown to become the largest (and perhaps the best run) bank serving the Asian community, with branches mainly in San Francisco and greater Los Angeles. The mission statement reads in part:

All of us at UCB share your values of dedication to hard work, savings, and education. We are committed to providing highly personalized service and a wide range of consumer and commercial...

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