NANAY Sets Pace as Community Leaders and Wachovia Discuss Plans for Miami?s FilAm and Asian-Pacific Community

Miami, Florida

March 7, 2005 marked a historic moment at the NANAY Center in North Miami, as FilAm and Asian-Pacific leaders and entrepreneurs gathered to discuss the needs of Florida Filam and Asian American community with key Community Development representatives from Wachovia Corporation.

With support from Al Pina (Chairman of the Florida Minority Community Reinvestment Coalition - FMCRC), Joy Bruce  (NANAY President and CEO) urged Wachovia and local leaders to discuss how they could work together to benefit the FilAm and Asian-Pacific community in the Miami area.

Wachovia has recently pledged $75 billion in community loans and investments over the next five years, covering the states pf Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee, Texas and Virginia. In Florida, Wachovia has committed to lending $4 billion in mortgages over five years (or $800 million a year) to low-to moderate-income borrowers and neighborhoods, and $2.5 billion a year (or $12.5 billion for five years) to help entrepreneurs support or expand their small businesses. As part of its five-year pledge, Wachovia is also committing $2 billion in loans to low- and moderate-income Florida consumers and neighborhoods.  In addition, Wachovia will commit over $100 million in support of philanthropic activities.  

Tony Riggio, vice-president and community development manager for Wachovia in Florida, and Peter Roulhac, vice-president and community development officer for Wachovia in Miami-Dade County, engaged community leaders with a presentation of their bank's products and services. They were joined in the discussion by Dr. Ernesto Ramos, deputy director of U.S. Rep. Kendrick Meek (and Florida NaFFAA Chair), Dr. Piyush Agrawal (President of the Asian American Federation of South Florida), Val Dagani and Rom Parani  (Filam Coalition convenors from Orlando), Winnie Tang (President of Organization of Chinese Americans-South Florida Chapter), Einez Yap (President of Chinese Cultural Foundation), Ric Garcia (President of Philippine American Federation of South Florida), Mohammad Shakir (Executive Director of Miami-Dade Asian American Advisory Board), Sang Whang (NANAY Governing Board Chair), Bennie Trinidad (NANAY Vice-President and Regional Executive Director), Evelyn Bruce (NANAY Executive Director) and Tom Zuniga (DSG Capital Resources, LLC, Consultant and Coordinator of South Florida LISC Community Development Training Institute).

In response to the identified needs of the community, the NANAY Community Development Corporation (NANAY-CDC) and NANAY Community Investment Fund, LLC. were formed to develop programs for community development and economic empowerment, including financial literacy, new homeownership and business development.

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