Pan American Bank Backs Complete Count Effort and Latino Census Summit

Committee Addresses Census Count Problems

EAST LOS ANGELES, Calif.--(BUSINESS WIRE)--Pan American Bank (Los Angeles) today announced its participation in and support of the East Los Angeles Complete Count Committee. The East Los Angeles Complete Count Committee is comprised of local community members, non-profits, businesses and government officials, working together to encourage the hard-to-count population in East Los Angeles to complete the census survey.

“studies have found that Los Angeles County lost more money than any other county because of undercounts during the 2000 census. East Los Angeles needs to get counted.”

“East Los Angeles has historically been considered a ‘hard-to-count’ community based upon a number of factors that affect many of the local residents, including fear, misunderstanding and lack of interest,” said Pan American Bank President and CEO Jesse Torres. “What many residents do not understand is that the census figures determine how nearly $400 billion in federal funds are disbursed each year. As the only bank headquartered in East Los Angeles, Pan American Bank needs to do its part to ensure that our community receives its share of federal investment. Such investments include monies related to education, infrastructure, social services and other critical projects. This is important to our community.”

The U.S. government utilizes census information relative to population density, levels of income, age, and other factors to determine how to allocate funds across the Country. According to Torres, “studies have found that Los Angeles County lost more money than any other county because of undercounts during the 2000 census. East Los Angeles needs to get counted.”

On December 12, 2009, the East Los Angeles Complete Count Committee will host a Press Conference and Latino Census Summit. The event is aimed at reaching out to hard-to-count populations in Los Angeles County. The event will feature television and radio personalities, Latino advocates, and local elected officials. Following the press conference the East Los Angeles Complete Count Committee will host the first annual Latino Census Summit where expert panelists will deliver important information regarding the 2010 census.

Established in 1964, Pan American Bank is California’s oldest Latino-owned bank. Headquartered in East Los Angeles, Pan American Bank serves the needs of the Latino communities in Los Angeles and Santa Ana. Founded by former U.S. Treasurer Romana Acosta Banuelos, the Bank has stayed true to its mission of transforming and empowering Latino communities through banking relationships built on trust, service, respect, communication, and guidance.