Pan American Bank Provides Path to Citizenship

EAST LOS ANGELES, Calif.–(BUSINESS WIRE)– Pan American Bank today encouraged Los Angeles and Orange County legal permanent residents (“LPR“) to participate in Pan American Bank‘s Path to Citizenship Program. The Pan American Bank Path to Citizenship Program is comprised of a Citizenship Application Microloan, free checking or savings account, and financial literacy education.

“For a great number of legal permanent residents the only obstacle between them and United States citizenship is the application fee. Across the country there are over eight million legal permanent residents that are currently eligible for citizenship,” said Pan American Bank CEO Jesse Torres. “Citizenship provides legal permanent residents with many benefits, including the ability to vote, run for office, and apply for certain jobs. In addition, citizenship deepens these individuals’ commitment to our country and their community, increasing the level of community service and improving the country’s overall standard of living.”

Pan American Bank offers a $1,000 Citizenship Application Microloan. The loan provides the $680 citizenship application fee as well as an additional $320 to apply towards fees associated with supportive services such as application assistance or English language/citizenship preparation classes. The loan can be obtained for a term of 12, 18, or 24 months. Loan program details are available at http://bit.ly/citizenshiploan.

The Path to Citizenship Program provides every applicant with an optional free checking or savings account. The account is free of maintenance fees and minimum balance requirement and requires only $25 to open. A box of 200 standard checks is provided free of charge at the time the account is opened. The Path to Citizenship Program encourages applicants to participate in Pan American Bank‘s financial literacy education program. The program is provided free of charge.

“Pan American Bank bundled the loan, bank account and financial literacy education in an effort to assist future U.S. citizens in the prudent management of their financial lives. The segment served by the Path to Citizenship Program is largely under-served and in many cases, underbanked. Pan American Bank seeks to empower and transform this community not only with citizenship loans, but with a full suite of financial products and services to ensure a long-lasting benefit to the communities served,” said CEO Torres.

About the Path to Citizenship Program

A $50 loan application processing fee will be assessed for administration, processing and ordering of credit and employment reports. The $50 processing fee will be added to the $1,000 loan amount (applicant may choose to pay the processing fee …read more

Source: FULL ARTICLE at DailyFinance