Pan American Bank (Los Angeles) to Be Joined by Congressional Leaders to Raise Funds and Awareness

Pan American Bank (Los Angeles) today announced that is will host a casino night fundraiser on March 29, 2010 for the benefit of the East Los Angeles Residents Association (“ELARA”). The event will be attended by congressional leaders Judy Chu, Grace Napolitano and Lucille Roybal-Allard and well as other dignitaries and local leaders.

“For decades the residents of unincorporated East Los Angeles have wondered about the feasibility of cityhood and self-governance. In order to make that determination the residents must engage an extensive and costly analysis,” said Pan American Bank CEO Jesse Torres. “It’s time to get to the bottom of the issue. The Comprehensive Fiscal Analysis for which ELARA is raising funds will provide the hard data upon which that decision can be made. The goal is to come to a definitive conclusion and put the issue to rest. Through the Comprehensive Fiscal Analysis process residents, local businesses and other stakeholders will know definitively whether cityhood is feasible.”

“The residents and businesses in East Los Angeles deserve this vital financial information to make an informed decision about cityhood,” says Diana Tarango, East Los Angeles resident since 1935, and leader in the incorporation effort.

ELARA is coordinating the fundraising effort necessary to raise the $134,000 needed to pay for the official, government-mandated Comprehensive Fiscal Analysis (“CFA”). Among the results provided by the CFA is an assessment regarding the viability of unincorporated East Los Angeles as a city. The casino night fundraiser will provide networking opportunities, casino-style gaming, food and a hosted bar.

WHEN: Monday, March 29, 2010. 6:00 pm – 10:00 pm.

WHERE: Pan American Bank
Whittier Blvd Branch
4631 E. Whittier Boulevard
East Los Angeles, CA 90022

WHO: Pan American Bank and the East Los Angeles Residents Association
Congresswoman Judy Chu
Congresswoman Grace Napolitano
Congresswoman Lucille Roybal-Allard
East Los Angeles business owners, residents, and neighboring supporters

WHAT:
Casino Night Fundraiser benefiting Cityhood for East Los Angeles.

Tickets available at www.PanAmericanBank.us/ELARA.

WHY: The unincorporated community of East Los Angeles seeks a fiscal study to determine its viability as a city. Led by the East Los Angeles Residents Association (ELARA), this effort is halfway towards raising the $134,000 needed to pay for an official, government-mandated study, or Comprehensive Fiscal Analysis, the required next step towards cityhood.

Cityhood for East LA is a project of the East Los Angeles Residents Association, a 501(c)(4) non-profit organization. ELARA’s mission is to develop the community’s social, educational, economic and structural resources through advocacy and civic engagement. Its objective is to incorporate the community and become the City of East Los Angeles.

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. Pan American Bank’s Facebook page can be found at bit.ly/pab-facebook. The Bank’s blog is found at PanAmericanBank.blogspot.com. Pan American Bank can be followed on Twitter as @PanAmericanBank.

Contact:

Pan American Bank
Tony Ramirez, 323-264-3310
TRamirez@PanAmericanBank.US“

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