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Abacus Federal Savings Bank's Overview

Total employees70
HeadquartersNew York
Founded1984

Abacus Federal Savings Bank is a community-focused financial institution founded in 1984 by Thomas Sung to serve the unique banking needs of the Chinese-American immigrant community in New York City. It has since expanded its services and reach, offering a range of personal and business banking products, including checking and savings accounts, loans, mortgages, and trade financing. The bank gained wider public recognition following the 2008 financial crisis and the subsequent documentary 'Abacus: Small Enough to Jail,' which detailed its legal battle against mortgage fraud charges, of which it was ultimately acquitted. Abacus Bank remains committed to providing accessible financial services and fostering economic growth within the communities it serves.

Where is Abacus Federal Savings Bank's Headquarters?

HQ Function

The headquarters serves as the central administrative and operational hub for the bank, overseeing all branch activities, strategic planning, compliance, loan origination and servicing, and core banking functions.

Notable Features:

Located in a prominent area of Chinatown, the headquarters is easily accessible. While primarily a functional banking office, its presence signifies a cornerstone financial institution for the local community. The interior is designed to be welcoming to its customer base, often with multilingual staff.

Work Culture:

The work culture at Abacus Bank's headquarters is characterized by a strong sense of community service, dedication to its customers, and resilience. There's an emphasis on understanding the specific financial needs of its immigrant client base and providing personalized service. Bilingualism (Mandarin/Cantonese and English) is highly valued.

HQ Significance:

The headquarters is significant not only as the operational center of the bank but also as a symbol of financial empowerment for the Chinese-American community. Its location in Chinatown underscores its dedication to serving this demographic directly.

Values Reflected in HQ: The headquarters' location and operations reflect the bank's core values: community focus, integrity, perseverance, accessibility, and commitment to serving the underserved.

Location:

Abacus Federal Savings Bank primarily operates within the United States, with branches concentrated in New York, New Jersey, and Pennsylvania. Its focus is on serving domestic communities, particularly the Chinese-American population. While it facilitates international transactions like wire transfers for its customers, it does not maintain physical branches or a significant operational presence outside the USA.

Street Address:

6 Bowery

City:

New York

State/Province:

NY

Country:

USA

Abacus Federal Savings Bank's Global Presence

Brooklyn, New York, USA

Address: 5121 8th Avenue, Brooklyn, NY 11220

To provide accessible banking services and financial support to individuals and businesses in the Brooklyn borough, fostering local economic activity.

Flushing, New York, USA

Address: 135-27 Roosevelt Avenue, Flushing, NY 11354

To serve the diverse financial needs of the rapidly growing Queens community, offering convenient access to banking products and community-focused financial guidance.

Edison, New Jersey, USA

Address: 180 Talmadge Road, Edison, NJ 08817

To support the financial needs of the growing Asian-American population in Middlesex County and surrounding areas in New Jersey.

Philadelphia, Pennsylvania, USA

Address: 1001 Arch Street, Philadelphia, PA 19107

To establish a banking presence and offer dedicated financial services to the Chinese-American community in Philadelphia, contributing to local development.

Buying Intent Signals for Abacus Federal Savings Bank

Highperformr Signals uncover buying intent and give you clear insights to target the right accounts at the right time — helping your sales, marketing, and GTM teams close more deals, faster.

Notable news
Hiring actively
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
Corporate Finance
*Example signal, not calculated in real time

Executive Team of Abacus Federal Savings Bank

As of April 2025, Abacus Federal Savings Bank' leadership includes:

Thomas Sung - Founder & Chairman
Jill Sung - President & Chief Executive Officer
Vera Sung - Director & Senior Vice President
Heather Sung - Director & Chief Lending Officer
Chanterelle Sung - Director
Donald L. Wire II - Chief Financial Officer & Senior Vice President

Investors of Abacus Federal Savings Bank

Abacus Federal Savings Bank has been backed by several prominent investors over the years, including:

Privately Held - Family Owned

Executive New Hires/Exits in the Last 12 Months

Hire0
Exits0

Publicly available information on executive new hires or exits at Abacus Federal Savings Bank in the last 12 months is limited. The bank is known for its stable, family-led leadership.

Technology (Tech Stack) used by Abacus Federal Savings Bank

Discover the tools Abacus Federal Savings Bank uses. Highperformr reveals the technologies powering your target accounts — helping your sales, marketing, and GTM teams prioritize smarter and close faster.

Abacus Federal Savings Bank Email Formats and Examples

Abacus Federal Savings Bank likely uses a consistent email format for its employees, typically incorporating the employee's name and the company domain. A common professional format would be the first initial followed by the last name.

[first_initial][last]@abacusbank.com

Format

jsung@abacusbank.com

Example

80%

Success rate

News and media

FDICMay 16, 2024

Abacus Federal Savings Bank news title

FDIC Makes Public April Enforcement Actions. No actions listed for Abacus Federal Savings Bank, indicating good standing....more

AsAmNewsSeptember 14, 2023

Abacus Federal Savings Bank news title

Thomas Sung, founder of Abacus Federal Savings Bank, reflects on his life and the bank's journey in an interview, highlighting its commitment to the community....more

The New York TimesFebruary 17, 2017

Abacus Federal Savings Bank news title

A feature article discussing the aftermath of the 'Abacus: Small Enough to Jail' documentary and the bank's acquittal, detailing its significance to the Chinatown community....more

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