1999 Inductee - Luis H. Sanchez

1999 Inductee - Luis H. Sanchez

Business/Community Service

It’s difficult to buy a home, and if your income isn’t very high, it is almost impossible. What difference does it make if you own your own home or rent? “The new home owner develops more stability, their self esteem is enhanced and, in particular, the family feels more a part of the community,” answers Luis.

As First Vice President of Washington Mutual, and its highest ranking Hispanic, Luis is responsible for the bank’s $120 billion, ten year community reinvestment commitment to the Western United States, Texas and Florida.

“This lending pledge targets programs to low and moderate income families, minority home buyers, consumer and business borrowers and community investment initiatives,” promises Washington Mutual.

“We’re not talking about just migrant farm workers here. We’re talking about bank tellers, City Hall clerical workers, and all the other people who are having trouble trying to buy a home. These are average Americans, the working poor,” explained Luis.

Luis shows he is a part of the community by assisting numerous groups such as the California State University Stanislaus Advisory Board, Stockton Chamber of Commerce, the Boys and Girls Club and several lending organizations such as the Federal Home Loan Bank’s CRA Advisory Round table. He has also been president of Stockton’s League of United Latin American Citizens and Women’s Center of San Joaquin County, chairman of Stockton’s Civil Service Commission, treasurer for the Private Industry Council, a delegate for St. Anne’s Church and a member of Stockton’s Cinco de May committee.

Luis’ career started in Simi Valley, his hometown. After 10 years of working for city governments, Luis became Financial Planning Consultant for New York Life. In 1989 he joined American Savings which merged with Washington Mutual in 1996.

In 1997 Luis was in charge of corporate gifts for American Savings. “That gave me a lot of satisfaction because I could provide scholarships to needy youngsters.” It is easy to see Luis is living up to what his father taught him. “My father brought us up to be the best you can be, and I firmly believe in that philosophy.”