Málaga’s Mission – Málaga Financial institution attributes its success to its native focus


Malaga Financial institution CFO Jasna Peniche (heart) with Malaga Financial institution Improvement Officer Sacha O’Hara and Julia Parton.

by Stacy A. Morse

The folks of Málaga Financial institution take the title “neighborhood financial institution” critically, utilizing their time, labor and cash to assist the world’s college students, small companies and plenty of nonprofits, whereas briefly order neighborhood members. Change loans for.

Final month, these efforts had been acknowledged on the Salute to Enterprise luncheon of the Palos Verdes Chamber of Commerce, when Málaga Financial institution was introduced with the Excellence in Enterprise Award.

Malaga Financial institution’s Govt Vice President and CFO Jasna Penic mentioned sustaining a steady workers is essential to its community-based method. Though the financial institution is barely 36 years previous, lots of its staff have been with the financial institution for greater than 10 years, and a few for over 20.

“For an establishment with 74 full-time staff, the tenure-to-employee ratio is one thing the Board and the administration are pleased with. It displays sustainability, personnel improvement and a collective tradition that has confirmed itself for greater than 35 years,” Penich mentioned whereas accepting the award.

“Malaga has been about neighborhood outreach from day one. We’re nonetheless native and but we are able to compete with the large guys. Individuals are beginning to worth native enterprise greater than they did 5 years in the past,” Penich mentioned. Mentioned in an interview.

Málaga’s staff give again to the neighborhood with sponsorship, fundraising and worker participation with greater than 60 native non-profits and different small companies.

This vacation season, Málaga branches gather “Toys for the Troops Children” for households who’ve service members abroad, along with Thanksgiving meals drives.

Seventy-five p.c of Malaga’s workforce lives within the South Bay.

“Neighborhood banking equates to the specialised information of the neighborhood and prospects. Our prospects are our neighbors. Most of our staff reside and work locally we serve,” mentioned Julia Parton, Vice President and Enterprise Improvement Officer.

Maliga Chairperson Randy Bowers serves on the Fourth Supervisory District Consolidated Oversight Board of Los Angeles County and the Board of Windfall Little Firm of Mary Medical Heart and Marymount College.

Peniche served the Grand Imaginative and prescient Basis, which helped save the Warner Grand Theater in San Pedro, amongst different initiatives. He’s additionally on the board of Shakespeare by the Sea, which performs outdoors in 35 totally different cities each summer season.

Parton, a 25-year-old Rotarian, is president of the Palos Verdes Peninsula Rotary’s Neighborhood Service, president of the PVP Chamber of Commerce, and a member of the PVE Basis board. Previous positions have included president of the PVP Excessive College Athletic Booster Membership and president of the PV Junior Girls’s Membership.

Sacha O’Hara, Senior Vice President and Enterprise Improvement Officer, serves on the boards of the Torrance Cultural Arts Affiliation, the Torrance Police Basis and the Most cancers Assist Neighborhood of Redondo Seaside, and is a member of the Torrance Kiwanis.

Parton mentioned that when the pandemic shut down the neighborhood, “we had been acknowledged as an important enterprise. Senior administration did a terrific job of retaining us open. We confronted the unknown in addition to the neighborhood.” Supplies PPP (Paycheck Safety Program) loans by way of the Small Enterprise Administration.

“We have supported folks in our neighborhood since we began, and the older we get, the extra we have been capable of give again,” Penich mentioned. pen



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