Abacus Federal Savings Bank

Abacus Federal Savings Bank is a Chinese American bank in the United States. Headquartered in New York City, with branch offices in New York, New Jersey and Pennsylvania, this privately-held community bank was first established in December 1984 by a group of local Chinese business leaders, with the principal organizer being an attorney. Despite its name, the bank is not a federal savings bank, and it was first established on November 29, 1984.

The creation of the Abacus Federal Savings Bank was the reflection of the rising tide of the Chinese immigration from Taiwan and Hong Kong during the 1980’s and the bank was originally established to provide banking services to Chinese immigrants and local residents of lower Manhattan. Gradually, its services were expanded to insurance, securities and medical management services.

The Abacus Federal Savings Bank was one of the first overseas Chinese banks in the United States to establish banking correspondent relationships with banks in China and Taiwan, such as the Chinese Agricultural Bank of China and the Chang Hwa Bank of Taiwan.

The motto of the bank is unusually long, and it reads: 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.

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