EAST LOS ANGELES, Calif.--(BUSINESS WIRE)--Pan American Bank today announced that it has signed an historic Memorandum of Understanding (“MOU”) with the Greater Los Angeles Chapter of the Society of Hispanic Professional Engineers, Inc. (“SHPE-LA”). This MOU solidifies the partnership between the most influential Hispanic engineering organization in Los Angeles and the most influential Hispanic-owned bank in Los Angeles.
SHPE-LA was founded to increase educational opportunities among Hispanics, promote professional and personal growth among its membership, and act as an advocate for Hispanics relative to education, business and government issues. A major function of SHPE-LA is to act as the leading social-technical organization whose primary function is to support and enhance the potential of Hispanics in science, technology, engineering, and mathematics (“STEM”) occupations.
"Pan American Bank and SHPE-LA share the common mission of empowering the under-represented and under-served Latino community in Los Angeles. SHPE-LA is the ‘go-to’ advocacy organization for the Los Angeles Hispanic community working within STEM fields or studying for a STEM career. As we experience an increase in the number of Hispanic students seeking or considering careers within the science, technology, engineering and mathematics fields, SHPE-LA is there to assist these professionals and students by providing access to mentorship, networking, and resources," said Pan American Bank CEO Jesse Torres. "Before I became a banker I was a materials science student. I recall the dearth of resources and mentorships available at the time. Many Hispanics entering a STEM field are the first in their family to achieve this goal. As such, they require assistance navigating their education and career. This is where SHPE-LA has filled the void."
The MOU between Pan American Bank and SHPE-LA will create opportunities for SHPE-LA and its members. Among the many benefits are free business and personal checking accounts for members, free technical assistance for small business members seeking access to capital, and access to a provider of SBA loans and other forms of financing.
The Society of Hispanic Professional Engineers, Inc. was founded in Los Angeles, California in 1974 by a group of engineers employed by the City of Los Angeles and formed the Greater Los Angeles Chapter of the Society of Hispanic Professional Engineers in 1983 and Incorporated in 1988 (www.shpela.org).
About Pan American Bank
Established in 1964, Pan American Bank is California’s oldest Latino-owned bank and the second-oldest Latino-owned bank in the United States. Headquartered in East Los Angeles, Pan American Bank has served the needs of the Latino communities in Los Angeles and Orange counties for nearly a half-century. Founded by the first Latina United States 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.