United Orient Bank

United Orient Bank
Company typePrivate
IndustryFinance and Insurance
FoundedApril 9, 1981
FounderJames S. C. Chao
Headquarters
Chinatown, Manhattan
New York City, New York
,
U.S.
ProductsBanking
AUMUSD $88,967,000
Websitewww.uobusa.com
Footnotes / references
1st quarter 2021

United Orient Bank (Chinese: 東方銀行; lit. 'Bank of the East / Eastern Bank') is an American bank established to serve the Chinese-American community of New York City. Headquartered in New York City, with branch offices in Chinatown, Manhattan, the bank is privately-held and claims itself as the first indigenous community bank in Chinatown, Manhattan when it was established on April 9, 1981.

The slogan of the bank is: “to put the area's resources to work locally”. It was one of the first US Banks established to serve the Chinese community in the United States as well as one of the first to provide Individual Retirement Accounts for its clients.

In August 1987, the United Orient Bank was indicted by a federal grand jury in Manhattan for failing to report cash transactions exceeding $10,000. The indictment was pronounced by Rudolph Giuliani, then the US Attorney for the Southern District of New York.[1]

In 1995, Yungman Lee was named President and CEO of the United Orient Bank, where he served by seven years.[2]

Governance

  • 1994–1995: William D. Hoffman (President and CEO)[3]
  • 1995–2002: Yungman Lee (President and CEO)[2]

References

  1. ^ Berg, Eric N. (1987-08-21). "Indictments At Bank in Chinatown". The New York Times. ISSN 0362-4331. Retrieved 2021-06-04.
  2. ^ a b Katinas, Paula (2015-12-10). "Yungman Lee: From immigrant to congressional hopeful". Brooklyn Eagle. Retrieved 2021-06-04.
  3. ^ "United Orient names Hoffman president, CEO". American Banker. 1994-04-28. Retrieved 2021-06-04.


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