The effort to 'give back 10 percent to the community' by Open Bank and Open Stewardship Foundation has continued once again this year. According to the foundation, this year's process focused more on transparency and integrity during the evaluation and selection process of the applicants.
The Foundation held an awards ceremony to give donations to 39 non-profit organizations on March 17 at 6 PM at Open Bank's Western location. Organizations including Milal Mission, Korean American Family Services (KFAM), The Well Mission, Somang Society, and others well known by the Korean church community were among those which received donations. Up until this fifth annual event, Open Stewardship has given a total of some $1.5 million to community organizations.
"I'm thankful for our board of directors who did not hesitate to do this, but put into action the commitment to give 10 percent back to the community," said Min Kim, the CEO of Open Bank. "And I'm grateful for the community organizations which have given us an opportunity to serve the community as well."
"When Open Stewardship Foundation was first started, Open bank only had one office location," said Brian Choi, the chairman of the board for Open Bank. "This year, we now have seven different locations. This is all due to the prayers and support of all of you in the community, and it is all by the grace of God."
Open Stewardship Foundation is a foundation that was established in 2011 by Open Bank as a way to serve the community. Open Bank has committed to spend 10 percent of its profits each year to give back to the community, and is putting that into action through the foundation. Since its establishment, the foundation has continuously run its Open Stewardship Program, by which various active non-profits were able to apply for and receive financial support.