CTBC Bank Awards LAEDC $150,000 Grant for Additional Fire Disaster Relief

LOS ANGELES--(BUSINESS WIRE)--CTBC Bank in partnership with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) have awarded the Los Angeles County Economic Development Corporation (LAEDC) a $150,000 economic development grant to support fire disaster relief under the Access to Housing and Economic Assistance for Development (AHEAD) program.

"CTBC Bank and FHLBank San Francisco responded immediately after the devastating wildfires to support affected businesses and workers,” said Stephen Cheung, President and CEO of LAEDC.

Share

CTBC delivered the AHEAD grant to LAEDC for the second year in a row. LAEDC has been awarded a 2025 AHEAD grant recipient among more than 400 applications submitted to FHLBank San Francisco.

Through FHLBank San Francisco’s member CTBC Bank, the award will expand LAEDC’s regional wildfire recovery efforts by stabilizing small businesses impacted by the January 2025 wildfires. AHEAD funds will support one-on-one business counseling, access to low-interest recovery capital and workforce stability services.

This follows CTBC Bank’s earlier 2025 $300,000 donation and FHLBank San Francisco’s $50,000 matching donation for fire relief response in the Los Angeles area.

“The AHEAD grants are focused on helping underserved people, neighborhoods and communities, and CTBC is honored to be selected to further support the Los Angeles area community,” said Robert De Acevedo, Senior Vice President, CRA Officer, CTBC Bank USA.

The combined CTBC Bank and FHLBank San Francisco $500,000 donations in 2025 will support LAEDC’s ongoing efforts to aid small business recovery in the aftermath of the recent Los Angeles wildfire disaster. CTBC’s foundational contribution, along with the matching donation, allows LAEDC to expand its supportive services and bolster the Together for LA initiative, a collaborative effort designed to assist small businesses throughout the Los Angeles region in times of crisis.

“In this year’s highly competitive application cycle, we received 400 AHEAD grant proposals, underscoring the widespread need for support to drive local economic vitality across our district,” said Eric Cicourel, Community Investment Officer at FHLBank San Francisco. “We are proud to partner with CTBC in awarding this grant to LAEDC, recognizing the important work they do in continuing to help the Los Angeles community recover from the devastating wildfires.”

"CTBC Bank and FHLBank San Francisco responded immediately after the devastating wildfires to support affected businesses and workers,” said Stephen Cheung, President and CEO of LAEDC. “This AHEAD grant enables us to extend critical recovery services to hundreds more businesses as they recover and rebuild. We are grateful for their support and commitment to our region during these challenging times.”

FHLBank San Francisco’s AHEAD program and wildfire relief and recovery matching funds are part of a suite of tools and resources that are available to help its member financial institutions address both urgent needs and longer-term recovery efforts in local communities. These tools and resources include discounted credit programs that support affordable housing, economic development, and community revitalization efforts.

About CTBC Bank Corp. (USA)

CTBC Bank USA is a trusted and established financial institution for commercial and retail customers. Founded in 1989 and headquartered in Los Angeles, CTBC Bank operates branches in California, New Jersey, and New York. The bank’s operations include deposits, loans, credit cards, foreign exchange, letters of credit, wealth management, mobile, and electronic banking services. Customers benefit from access to large bank resources coupled with individual attention and customized service of a small bank. Its parent company, CTBC Bank Co. Ltd., is supported by more than $240 billion in assets and is among the largest banks in the world in terms of capital. For more information about CTBC Bank, visit www.ctbcbankusa.com.

About LAEDC

The Los Angeles County Economic Development Corporation (LAEDC) is a nonprofit organization working to enhance economic opportunity and quality of life in the Los Angeles region. By fostering inclusive economic growth, supporting workforce development, and providing business assistance, LAEDC is committed to building a more equitable and resilient regional economy. www.laedc.org