LOS ANGELES, Oct. 17, 2016 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ:HAFC), (or “Hanmi”), the holding company for Hanmi Bank (the “Bank”), announced today that it has launched the Hanmi Dream Scholarship Program, as a part the Bank’s Corporate Social Responsibility Program called Hanmi Neighbor. The Hanmi Dream Scholarship Program aims to provide educational support to at-risk youths, primarily foster youths and youths who are from abusive homes, enabling them to pursue higher education.
Hanmi Dream Scholarship will offer up to $150,000 in scholarship awards annually. The at-risk youth scholarship program will be administered by Korean American Family Services (KFAM), the only community non-profit organization with expertise in caring for Korean foster youths, through its Asian Foster Family Initiative. The scholarship will be given to students ranging from kindergarten all the way to graduate students who are in the foster care system or who are domestic violence survivors. The award amount will range from $1,000 to $10,000 based on the applicants’ needs. The award can be used for various education purposes, including tutoring cost, school supplies to school tuition. In conjunction with launching the Hanmi Dream Scholarship Program, Hanmi also plans to implement an At-Risk Youth Mentoring Program to create opportunities for employee engagement.
“As a community bank, we understand that Hanmi’s community involvement is vital to the well-being of our community. As a part of our commitment to invest in our community’s next generation, we realized that there was a dire need to provide educational support to the underprivileged students, regardless of their academic achievements. Unlike scholarships that are merit based, the goal of the Hanmi Dream Scholarship Program is to provide educational support to students who are truly in need. As our tagline ’Bank on Your Dreams’ indicates, it is our sincerest hope that Hanmi can make a positive impact in these students’ lives in order for them to believe in and pursue their dreams,” said C. G. Kum, Hanmi’s President & Chief Executive Officer.
“We are delighted that Hanmi Bank has chosen KFAM as a partner to administer the Hanmi Dream Scholarship Program for at-risk youths,” said Connie Chung Joe, Executive Director of KFAM. “Domestic violence and child abuse are often neglected and unspoken epidemics in our community. Growing up in an abusive home has a direct impact on a child’s academic success. Children experiencing trauma have more difficulty concentrating at school or at home, which has a direct impact on grades. For kids in foster homes and domestic violence shelters, being uprooted into new homes and switching schools makes it even more difficult to keep up in school. Hanmi’s scholarship will be instrumental in providing the necessary educational support they truly need.”
In addition to the scholarship program, Hanmi Bank will collaborate with KFAM on their workforce development program. Hanmi is pledging to provide job training and open up six positions in the bank for at-risk Korean immigrant women, including single mothers and domestic violence survivors. This partnership will assist them to re-enter the work-force and learn the necessary skill sets to support themselves and their families.
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