Abacus Federal Savings Bank was founded in December, 1984 by a group of business leaders from the Chinese community in New York City. The founders' purpose in starting Abacus Bank was to provide financial services to immigrants and local residents of lower Manhattan. As the Chinese immigrant population grew, Abacus Bank has retained its original mission, but has expanded its size. It now has 6 branches covering New York, New Jersey and Pennsylvania. Abacus Bank provides deposit services, safe deposit boxes and loans for both residential and commercial real estate properties to its communities. Besides the traditional banking services, Abacus Bank also provides life insurance and annuities to its customer through its subsidiary, Abacus Insurance Agency Corp.
In the 90's, trade between U.S. and China grew exponentially. Abacus Bank saw the need to establish contacts internationally to serve its customers who now include a broad segment of companies and individuals doing business with China. Abacus established correspondent relationships with government owned and/or ranked banks in China, Hong Kong and Taiwan to facilitate the flow of credit and funds between China and the United States.
Abacus's broad reach and access to key businesses and industries in China is wide. Services to companies interested in trade with China include providing comprehensive business related reports of an industry or company in China. With an effective network of consultants, the Bank can liaison, provide credit and marketing information, and identify strategic partners for U.S. companies. To facilitate trade, the Bank can also assist in verifying the quantity and quality of merchandise shipment pursuant to the terms of letters of credit. The services provided by the Abacus are unique in the industry. Trading with China is more easier with the Bank's facilities.
Abacus Federal Savings Bank is a full service financial institution. Banking with Abacus will give you the satisfaction of personal service and individual attention. Abacus believes that a bank is only as good as its services to its customers. At Abacus, your interest is the Bank's interest; you can count on us.