LOS ANGELES, Oct. 26, 2022 (GLOBE NEWSWIRE) — Hanmi Financial Corporation (Nasdaq: HAFC) (“Hanmi”)the holding company of Hanmi Bank, today announced its partnership with Bee propose a new Current account choice designed to meet the needs of unbanked and underbanked communities. HoneyBee customers, who do not have a checking account, will have the option of opening a Choice checking account with Hanmi Bank.
HoneyBee is a Certified B Corp® company that partners with employers to provide financial wellness programs for their workforce. Programs include access to no-cost, no-interest rainy day funds, on-demand financial therapy in English or Spanish, and monthly financial education workshops for employees and their families. Through this new partnership, HoneyBee can refer customers directly to dedicated bankers at Hanmi Bank who will provide assistance with opening a Choice checking account.
This partnership highlights Hanmi Bank and HoneyBee’s shared vision to expand access to the financial tools that underserved communities need to achieve fiscal success.
“Hanmi Bank was established more than four decades ago to serve underbanked immigrant communities,” said Bonita Lee, President and CEO of Hanmi Bank. “Today, we serve all communities while continuing to create products and services that meet the changing needs of today’s unbanked and underbanked communities. This new partnership is a natural extension of this long-standing commitment to providing the resources and guidance needed to help all of our clients achieve their financial goals.
“Over 70% of Americans don’t know where to turn for financial advice,” said Ennie Lim, co-founder and CEO of HoneyBee. “And about a quarter of Americans are either unbanked or underbanked, and rely on expensive and predatory alternatives for financial services. Our partnership with Hanmi Bank provides another valuable tool that we can offer our customers in the communities we serve.
Unbanked people are defined as people without checking accounts, savings accounts or money market accounts. Underbanked people are defined as people who have a bank account but need alternative financial services products. According The Federal Reserve16% of the US population is underbanked while 6% is unbanked, with the majority of both groups being people of color.
Customers in the country who are referred to Hanmi Bank by HoneyBee will be able to register for Choice Checking Account from October 24, 2022. Hanmi’s Choice Checking Account comes with no overdraft fees, only requires a minimum balance of $25.00 to open and waive monthly payment. Fee of $4.95 with direct deposit per month. The account is also enabled for online and digital bill payments. In addition to HoneyBee customers, this account will also be available to other eligible Hanmi customers.
About Hanmi Financial Corporation:
Based in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of thirty-five full-service branches and eight loan origination offices in California, Texas, Illinois , Virginia, New Jersey and New York. , Colorado, Washington and Georgia. Hanmi Bank specializes in real estate, commercial, SBA and trade finance loans to small and medium enterprises. Additional information is available at www.hanmi.com.
Bee is a Certified Benefit Corporation headquartered in Los Angeles with a mission to provide free and equal access to financial support in the workplace. HoneyBee’s programs provide no-cost rainy day funds, on-demand financial therapy for employees and their families, and monthly financial education workshops that support employer initiatives to build a workforce healthier work. HoneyBee has become an integral part of corporate retention strategies and diversity, equity and inclusion commitments. 89% of their users are primarily women and people of color. For more information, please visit www.meothoneybee.com.
Financial Profiles, Inc.
Source: Hanmi Bank