Abacus Federal Savings Bank

Abacus Federal Savings Bank was founded in December, 1984 by a group of business leaders in the Chinese community in New York City. The principal organizer was Thomas Sung, an attorney active in community affairs. The founders' original purpose was to provide banking services to immigrants and local residents of lower Manhattan. As the Chinese immigrant population grew in the 80's and 90's, the Bank expanded its size and scope. It now has 6 branches covering New York, New Jersey and Pennsylvania. Besides the traditional banking services, it also offers insurance, securities and medical management services through its subsidiaries.