Investor Alert

press release

March 24, 2021, 9:25 a.m. EDT

Comerica Bank Launches National Initiative to Combat Violence Against Asian Americans and Pacific Islanders

Committing $100,000 to Nonprofit Organizations to Support Asian American and Pacific Islander Seniors

DALLAS, March 24, 2021 /PRNewswire/ -- Comerica Bank announced today a national program to counter the rise in racially motivated violence targeting the elderly of the Asian American and Pacific Islander communities that has occurred since the COVID-19 pandemic began. Comerica's newly created Asian Senior Citizens Anti-Violence Initiative will focus on directing $100,000 in contributions and in-kind volunteer support to Asian American nonprofit organizations in Comerica's major markets of California, Texas and Michigan that assist those who are most vulnerable.  

Comerica will launch the national program in California by supporting APA Family Support Services , Asian Pacific Islander Small Business Program and Koreatown Youth & Community Center . Part of the initiative includes supplying 1,000 personal safety alarms, as well as supporting personal and financial security programs that address elder abuse and fraud prevention.

"Comerica Bank proudly supports diversity, equity and inclusion, both among our colleagues and in our communities," said Irvin Ashford, Jr., Chief Community Officer, Comerica Bank. "As a relationship focused bank, we are committed to serving our communities during these difficult times. We hope that our work through the Comerica Asian Senior Citizens Anti-Violence Initiative will help our Asian American and Pacific Islander communities feel safer and supported."

Incidents of attacks across the country against members of the Asian American and Pacific Islander communities continue to escalate, particularly against seniors. San Francisco-based organization, Stop AAPI Hate, recently reported that its organization has recorded more than 3,700 incidents from March 2020 to February 2021.

"Comerica condemns the violence we have seen in our Asian American Pacific Islander communities. Helping to demolish social injustices and racial inequities that exist in our country remains a priority for us," said Nate Bennett, Chief Diversity Officer, Comerica Bank. "Among our colleagues, we are continuing to open the dialogue to discuss racial equity, social injustices and the necessity for allyship and inclusivity."

Comerica has a long history of partnering with the Asian American and Pacific Islander communities. Following are three of the 18 Asian American nonprofits that Comerica supported last year alone:   

  • Pacific Asian Consortium in Employment in Los Angeles, Calif., received funding for COVID-19 relief, such as food and housing, business and employment resources, and utilities and education resources for parents. PACE is a community development organization that annually serves 50,000 low-income residents by creating economic solutions to meet the challenges of employment, education, housing, the environment, and business development in the Pacific Asian and other diverse communities.

  • ASIAN, Inc. in San Francisco, Calif., received funding for low- to moderate-income limited-English proficient businesses and resident foreclosure prevention due to COVID-19.

  • Koreatown Youth & Community Center in Los Angeles, Calif., received funding for financial empowerment programs focused on Community Economic Development (CED). KYCC's CED program provides comprehensive financial support services to promote community and economic development for residents and small business owners in Koreatown and Greater Los Angeles.

About Comerica Comerica Bank is a subsidiary of Comerica Incorporated /zigman2/quotes/207245846/composite CMA +0.67% , a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. Comerica reported total assets of $88 billion as of Dec. 31, 2020.

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SOURCE Comerica Bank


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