Community Reinvestment Act

Helping Our Communities Grow

American Savings Bank supports all aspects of the Community Reinvestment Act (CRA) of 1977, which encourages all banks to meet the credit needs of all communities in which each bank operates.

Investments in Affordable Housing

One way American Savings Bank has supported the community is through investing in the construction of hundreds of units of affordable housing across the state, supporting the needs of the community and providing quality living spaces for families, keiki and our kupuna. Recent properties include:

Halekauwila Place in Kaka‘ako, Oahu
Hale Mohalu properties in Pearl City, Oahu
Kaniko‘o Senior Housing in Lihue, Kauai
Mohouli Senior Residences in Hilo, Hawaii Island
Hale Mahaolu Ehiku in Kihei, Maui.

About the Community Reinvestment Act

CRA does not prohibit any activity, nor is its purpose to allocate credit or encourage unsound lending practices. The statute calls for regulatory agencies to assess the records of financial institutions in meeting local credit needs, and take that record into account when considering applications for charters, deposit insurance, branches or other deposit-accepting facilities, relocations, mergers or other acquisitions. CRA specifically reaffirms that financial institutions should be encouraged to meet local credit needs only if such actions are consistent with the safe and sound operation of such institutions. For additional information on CRA, please see:

Information to Consider

Under the Federal Community Reinvestment Act (CRA), the Comptroller of the Currency evaluates our record of helping to meet the credit needs of this community consistent with safe and sound operations. The Comptroller also takes this record into account when deciding on certain applications submitted by us.

Your involvement is encouraged. You are entitled to certain information about our operations and our performance under the CRA. You may review today the public section of our most recent CRA evaluation, prepared by the Comptroller, and a list of services provided at this branch. (The public section of the CRA evaluation is also available: You may also access following additional information, which we will make available to you at a branch of your choice within five calendar days after you make a request to us: (1) A map showing the bank's assessment area, which is the area in which the Comptroller evaluates our CRA performance in this community; (2) information about our branches in this assessment area; (3) a list of services we provide at those locations; (4) the federal website address to view data on our lending performance in this assessment areas; and (5) copies of all written comments received by us that specifically relate to our CRA performance in this assessment area, and any responses we have made to those comments. If we are operating under an approved strategic plan, you may also have access to a copy of the plan.

At least 30 days before the beginning of each quarter, the Comptroller publishes a nationwide list of the banks that are scheduled for CRA examination in that quarter. This list is available on the OCC's website or by writing to:

Deputy Comptroller
Comptroller of the Currency
1225 17th Street
Suite 300
Denver, CO 80202

You may send written comments about our performance in helping to meet community credit needs to:

American Savings Bank
Director of Community Development
PO Box 2300
Honolulu, HI 96804-2300

and to the Deputy Comptroller at the address listed above. Your letter, together with any response by us, will be considered by the Comptroller in evaluating our CRA performance and may be made public.

You may ask to look at any comments received by the Deputy Comptroller. You may also request from the Deputy Comptroller an announcement of our applications covered by the CRA filed with the Comptroller. We are an affiliate of Hawaiian Electric Industries, Inc. and ASB Hawaii, Inc., two bank holding companies. You may request from the Officer in Charge of Supervision, Federal Reserve Bank of San Francisco, 101 Market Street, San Francisco, CA 94105 an announcement of applications covered by the CRA filed by bank holding companies.