We attended the FDIC’s Los Angeles Alliance for Economic Inclusion (AEI) tri-annual forum. After another successful VITA season, RBB HELD THE#1 SPOT, among the Los Angeles AEI organizations, for the highest number of Tax preparers at a mighty 67!
Giving Back
jUNE 2024
Royal Business Bank
Summer Interns
We are thrilled to continue with Royal Business Bank’s Summer Internship and Scholarship Program for incoming college freshmen. During their 5-weekinternship at the Downtown LA Office, they will learn about the various functions of the bank and will gain a better understanding of what a career in banking looks like. They will participate in community activities with some of our partners for volunteerism. We also have many great workshops prepared for them on topics related to finance and college/career preparation. Interns have been selected to work in the following departments: CRA, IT, Mortgage, and SBA.
Los Angeles Alliance For Economic Inclusion
Financial Capacity Working Group
RBB Internship
Financial Literacy Workshops
Pictured above you will see the Mortgage Loan Officer is presenting his Mortgage 101 workshop. He went over what a mortgage is, in detail, and left time at the end for Q&A. The Director of Community Development and Community Reinvestment Act gave a workshop on budgeting where she went over the importance of having and maintaining a spending and savings plan.
Unite-LA
Dollars for Scholars
We attended the Dollars for scholars in-person ceremony for students in the L.A. Cash for college program. The event recognized local high school/college students and celebrated their journeys as they take important steps to advance their education and careers. This year, L.A Cash for college is awarding $30,000 in scholarships to program participants.
Unite-LA’s mission is to advance equitable economic mobility and well-being through collaboration that strengthens systems, policies, and high-quality education and career pathways.
april 2024
Los Angeles South Hope Foundation
Building Your Wealth for Tomorrow Symposium & Expo
The Los Angeles South Hope Foundation held their "Building Your Wealth for Tomorrow Symposium & Expo" on April 18th at the Earvin Magic Johnson Park in South LA for community members. As well as providing information for products and services to small business owners, there were many great panels offering information on a variety of financial literacy topics. Our director of Community Development and Community Reinvestment Act spoke on the Access to Capital panel for Small Business.
Unite LA
Mock Interviews
In partnership with Unite LA, the CRA team participated in Mock interviews with Esteban Torres High School to help with the Work Readiness Program. A total of 80 students were interviewed and provided with resume building!
Junior Achievement of SoCal
JA Finance Park
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At Junior Achievement's Finance Park, volunteers lead students through a simulation where they are "adults for a day" and have to make financial and budgeting decisions. Volunteers help students through the budgeting process while sharing their own experiences and advice.
Volunteer Income Tax Assistance (VITA)
RBB volunteers helped countless families and individuals file their taxes free of charge and helped many of those families receive a tax refund. As the VITA tax season has ended, we are happy to report that RBB volunteers completed a total of 1,582 tax files! This year we were able to partner with a whopping 17 community partners to help provide tax assistance.
MARCH 2024
Junior Achievement of New York
JA Finance Park
At Junior Achievement's Finance Park, volunteers lead students through a simulation where they are "adults for a day" and have to make financial and budgeting decisions. Volunteers help students through the budgeting process while sharing their own experiences and advice.
Chicago Scholars
Financial Literacy Workshop
In partnership with Chicago Scholars, the CRA team prepared and conducted a workshop highlighting some important topics surrounding income taxes for the upcoming Tax Season!
The topics discussed included Understanding Income taxes and knowing who should file. We also provided information on why Taxes are important and provided examples of some benefits to filing your taxes.
The topics discussed included Understanding Income taxes and knowing who should file. We also provided information on why Taxes are important and provided examples of some benefits to filing your taxes.
Ideal CDC
Bellflower High School Financial Literacy Series
In partnership with IDEAL CDC, we participated in IDEAL's High School Financial Literacy Series. This 6-week series is aimed to empower the next generation with skills and knowledge they need to make smart financial decisions. This series has been focusing on guiding students towards a secure financial future by exploring diverse career paths, learn about investments, understanding homeownership and the renting process. We delivered workshops on How to Start a Business. For the final week of this financial literacy series, students worked in groups to create their own small business. They then pitched their business ideas to a panel of judges in hopes of getting “funding” for their product or service.
Youth Business Alliance
Work-Based Learning Activity
In partnership with Youth Business Alliance, Royal Business Bank will be hosting 5 students from BRIO High School for a Work-Based Learning Activity. The purpose of this activity is to teach the children about Business and the workforce. Every Friday these students will participate in activities and workshops that teach them how to create and grow their business. The BRIO HS students continued with their business building lessons with the help of some workshops conducted by the RBB team. Students learned about conducting market research, presentation skills, hiring and building a team, the financial component of owning a business, creating a portfolio, and information on Small Business loans.
At the end of the Work Based Learning activity, students applied what they learned during the workshops on small business, learning how to start and maintain them, and other important financial topics they will use in their everyday life. Each student came up with a business idea and presented it to the Shark Tank Judges!
Boys & Girls Club of Greater Ventura
Youth of the Year Awards
In partnership with Boys and Girls Club of Greater Ventura, the CRA team served as student coaches for youth of the Boys and Girls Club in Greater Ventura. For 9 weeks, coaches guided students in creating a well structured speech highlighting the many great accomplishments each student has achieved and hope to achieve. The objective is to select the Youth of the Year who best embodies the qualities of leadership and service, academic excellence and living a healthy lifestyle, and who can speak to the impact that their club or Youth Center has made in their life.
VITA Tax Preparation
Haven and CCNP
We are well into the 2024 VITA Tax season and have been doing amazing with providing free tax preparation services to low income families and individuals. Our partner sites are very appreciative of the work RBB volunteers are doing and have said great things!
Santee High School
Field Trip and Shark Tank Activity
Royal Business Bank hosted a field trip for 12th grade students from Santee High School. Students were able to learn about various aspects of banking such as portfolio management, credit, Bank Secrecy Act (BSA), Human Resources, and Community Reinvestment Act (CRA). With help from RBB team leaders, students came up with a product and had to develop a logo, business plan, and marketing strategy. They then had to present their idea in front of four judges who gave them feedback.
CSUF Center for Entrepreneurship
SoCal Celebrates Entrepreneurship
In partnership with CSUF’s Center for Financial Entrepreneurship, Royal Business Bank provided funding to support small businesses that have gone through the Center for Entrepreneurship’s program. The SoCal Celebrates Entrepreneurship event is an annual conference that gather some of the many innovative and great minds in Southern California. Entrepreneurs, business leaders, investors, exhibitors, schools and students join to celebrate the regions diverse entrepreneurial spirit, fostering upward mobility and a thriving quality of life.
JANUARY 2024
Youth Business Alliance
Work-Based Learning Activity
In partnership with Youth Business Alliance, Royal Business Bank will be hosting 5 students from BRIO High School for a Work-Based Learning Activity. The purpose of this activity is to teach the children about Business and the workforce. Every Friday these students will participate in activities and workshops that teach them how to create and grow their business.
On their first visit at the Downtown LA Office, the students were exposed to some of the many departments in banking and were able to hear some team members speak about their roles and responsibilities in the bank. The students also engaged in Q&A with the speakers afterwards. Students also participated in a workshop led by Treasury Management Manager on creating a Business Plan. Students were able to learn about some of the myths and realities of small business ownership while receiving information on how to create your own business and action items for starting your business.
Volunteer Income Tax Assistance (VITA)
Royal Business Bank will continue to participate in VITA to provide free tax preparation for low to moderate income individuals and families. We are happy to announce that RBB has increased the number of 2024 VITA Partners with 16 (!) We have volunteers throughout most of our regions including California, Chicago, New York, New Jersey, and Hawaii for a total of 67 certified VITA volunteers!
Junior Achievement of Southern California
Finance Park
Several bank employees kicked off the year by participating in JA Finance Park to help students navigate the world of personal finances as they assume the role of “adult for the day”. Volunteers mentored groups of students throughout the day and helped them create a monthly budget while making decisions regarding housing, transportation, insurance, savings, entertainment expenses, etc.
LA South Hope Foundation
Health and Wellness Summit
The CRA Team attended the Health and Wellness Summit hosted by the LA South Hope Foundation. Watts Healthcare led the discussion which included topics on community resources, collaboration efforts, and future park and recreation events for youth in the area. LA South Hope Foundation’s goals are to bridge and foster relationships
between local businesses, government agencies, and community residents.
between local businesses, government agencies, and community residents.
