Genesis Bank Announces Partnership With Santa Ana College and Excess Telecom to Address the Gaps in Access to Internet and Technology for LMI and Disadvantaged Households

Genesis Bank (“Genesis” or the “Bank”) announced today that it has forged a partnership between Santa Ana College and Excess Telecom (“Excess”), to address the lack of access to internet and technology. In the Fall of 2022, Genesis entered into an agreement to be the exclusive banking distribution partner of Excess Telecom, an officially licensed nationwide provider of the Affordable Connectivity Program (“ACP”), a government program operated by the Federal Communications Commission, offering discounted internet access and low-cost tablets to low- to moderate- income (“LMI”) households. As one of only two diverse, multiracial Minority Depository Institutions (“MDI”) in the U.S., Genesis has leveraged its collaboration with educational, collegiate, municipal, and philanthropic focused community organizations located predominantly in Genesis Bank’s Southern California markets to address the technology gap that exists in diverse minority and LMI communities. Such efforts have led Genesis Bank to play a key role in facilitating this partnership between Santa Ana College and Excess Telecom focused on bringing discounted broadband internet connectivity to qualified enrolled students and their respective households.

Stephen H. Gordon, Chairman and Chief Executive Officer of Genesis Bank, stated, “On behalf of Genesis Bank, the Genesis Bank Institute for Entrepreneurship (“GBIE”), our business incubator and advisory division, and the Genesis For Good Foundation, our 501(c)(3) public charity that supports financial literacy, mentorships, economic and workforce development, internships, and technical assistance, we are deeply honored and excited to have forged this important partnership. This impactful collaboration is representative of how different factions of the community can come together to leverage their respective resources, platforms, and capabilities, to collectively lead the charge in bridging the information and technology gaps that persist today. As one of only two diverse, multiracial MDIs in the U.S., we continually strive to live up to our mission as a leader in the communities we serve. We believe this partnership will have a lasting impact towards better enabling the educational, career, and personal aspirations of countless students, families, and graduates of Santa Ana College and the related communities at large.”

Access to internet connectivity outside of a traditional classroom is necessary for students and individuals pursuing higher education or other means of self-development. It is important to acknowledge that the relationship between technological connectivity and educational resources is a major key to promoting financial well-being and economic change in our communities. Santa Ana College and Excess Telecom will provide qualifying students with discounts on monthly broadband internet service and certain connected devices. To be eligible for the ACP and a discounted device through Excess Telecom, a household member must be currently enrolled in a government assistance program.

Dr. Annebelle Nery, President of Santa Ana College, stated, “We always strive to remove barriers and to foster a successful learning environment for all our students. Students need accessibility, and by partnering with Excess Telecom and Genesis Bank, we are helping to close the digital divide by offering an opportunity to procure the technology and the Internet service they need to complete their educational goals.”

Art Felix, Vice President of Strategic Partnerships at Excess Telecom, stated, “As our world becomes increasingly digitized, our mission is to provide the resources students need to successfully pursue higher education. By partnering with Santa Ana College, we are changing the trajectory of students’ lives. We are narrowing the digital divide and creating a climate where our leaders of tomorrow can thrive.”

To learn more about Genesis Bank, the Genesis Bank Institute for Entrepreneurship, and the Genesis For Good Foundation, please visit www.mygenesisbank.com. More details on the ACP and Excess Telecom, including program eligibility can be found at www.excesstelecom.com. To discover more information about Santa Ana College, please visit www.sac.edu.

About Genesis Bank

Genesis Bank is a California state chartered commercial bank, organized by a group of highly experienced and successful bankers, investors, and business professionals. The Bank focuses on serving the financial needs of small to mid-sized businesses and owners, and investors in income-producing multifamily and commercial real estate located in the Bank’s Target Markets of Los Angeles, Orange, Riverside and San Bernardino Counties, California. Additionally, Genesis Bank is designated by the FDIC as a Minority Depository Institution (“MDI”), and is one of only two diverse, multi-racial MDIs in the U.S. The Bank is powered by GenTeck^SM, a groundbreaking combination of best-in-class technologies, which are tightly integrated to give clients a seamless, digital first, and transparent experience. The Bank’s products, services, and solutions primarily include traditional commercial business, Small Business Administration (SBA), income property, and owner-occupied commercial real estate loan and deposit products, as well as treasury management, escrow, and Section 1031 exchange services and solutions. Genesis Bank is headquartered in Newport Beach, California, and can be found online at www.mygenesisbank.com. Genesis is an Equal Housing Lender and Member FDIC.

About Santa Ana College

Santa Ana College (SAC), which turned 100 years old in 2015, serves about 20,000 students each semester. The college prepares students for transfer to four-year institutions and provides workforce training for business and industry. In addition, another 11,000 students are served through the college's School of Continuing Education located at Centennial Education Center. Ranked as one of the nation's top, two-year colleges awarding associate degrees to Latino and Asian students, the college is also recognized throughout the state for its comprehensive workforce training programs for nurses, firefighters, law enforcement and medical personnel. SAC is one of two comprehensive colleges under the auspices of the Rancho Santiago Community College District.

About Excess Telecom

Excess Telecom is a service provider for the government-funded Affordable Connectivity Program (ACP). The ACP is a government benefit program operated by the Federal Communication Commission (FCC) that provides discounts on monthly broadband Internet access services and certain connected devices. The ACP provides discounts of up to $30 per eligible household on monthly broadband Internet access service (or up to $75 per eligible household on Tribal lands) and up to $100 on certain connected devices (with a required co-payment of between $10 and $50). ACP service and device discounts cannot be transferred to another household or individual. Eligible households are limited to one monthly service discount and one device discount. Rates and device discounts available for qualified customers only. Visit www.excesstelecom.com for full eligibility requirements, service agreement, coverage map, and program details.

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