The Moneyhune Savings account is especially designed for keiki under the age of 18. It can be converted to a Statement Savings account when the individual turns 18 years old. We also have investment and savings accounts used for education. Speak to a Financial Advisor for more information.
Education Planning†
It's never too early to start saving for your child's education - let us help you get started
Start Planning Today
Tax-deferred and tax-free withdrawals on some accounts for qualified educational purposes
Beneficiaries may be changed without penalty
- Contributions may be made by any family member (including grandparents, aunties, uncles and more)
Getting Started
In preparing to meet with one of our Financial Advisors, please have the following information:
Information on your current financial situation
Your risk preference
- Your desire for asset allocation and diversification
Plan today for a smarter tomorrow
Coverdell Education
Savings Account (CESA)
Contributions are not tax-deductible, but all earnings and withdrawals are tax-exempt and free of penalties as long as the withdrawals are made for qualified education expenses
Section 529
College Savings Plan
Contributions are tied to the gifting exclusion limit of $15,000. You could also make up to 5 years worth of contributions (or $70,000) in one year
Custodial Account
(UTMA or UGMA)
Up to certain limits, these accounts are taxed at the child's rate. Withdrawals may be made for any expenses that benefit the child – not just education expenses
Let's Talk
Kanani Miyahira
Island: Oahu
Phone: (808) 541-8586
Start Planning
Jeffrey Bonk
Islands: Maui & Hawaii
Phone: (808) 952-7019
Start Planning
Riki-Ann Chow
Island: Oahu
Phone: (808) 527-4350
Start Planning
Common Questions:
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† Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFG STC Insurance Agency LLC), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Neither firm is affiliated with the financial institution where investments are offered. Advisory services are only offered by Investment Adviser Representatives. Registered address and phone number: American Savings Investment Services, 300 North Beretania Street Honolulu, HI 96817. (808) 735-1717.
Not FDIC Insured
Not Bank Guaranteed
May Lose Value
Not Insured by any Federal Government Agency
Not a Bank Deposit
Click to view Cetera Investment Services Privacy Policy and other Important Information.
This site is published for residents of the United States only. Registered Representatives of Cetera Investment Services LLC may only conduct business with residents of the states and/or jurisdictions in which they are properly registered. Not all of the products and services referenced on this site may be available in every state and through every advisor listed. For additional information please contact the advisor(s) listed on the site, visit the Cetera Investment Services LLC site at www.ceterainvestmentservices.com.
Hospital Accident Protection (HAP) Insurance†
Insurance protection for your family. Receive cash benefits when a serious covered accident lands you in the hospital (underwritten by CHUBB)
Product Features & Benefits
Must be an American Savings Bank customer 18 years or older
All cash benefits paid directly to you
All benefits are paid in addition to any other insurance you may have
Cash benefits are all yours to spend any way you want
You cannot be turned down due to age or health, no medical exam required; all coverage reduces by 50% at age 65 and 25% at age 75††
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†
Not FDIC Insured
Not Bank Guaranteed
May Lose Value
Not Insured by any Federal Government Agency
Not a Bank Deposit
†† This is an offering for insurance. It is not a deposit, not FDIC insured, not guaranteed by the bank and not insured by any federal government agency.
- Limit per occurrence* $328,500.00 for 365 days
- Limit per occurrence* $657,000.00 for 365 days
* This is an accident only policy and does not pay benefits for loss from sickness.
This information is a brief description of the important features of this insurance plan, not an insurance contract. Actual coverage is subject to the language of the policy including applicable exclusions and limitations, and may not be available in all jurisdictions. Insurance product offered by Franklin Madison Group, LLC. For California Residents: Insurance product offered by Franklin Madison Insurance Services, LLC. Insurance is underwritten by Federal Insurance Company, a Chubb company. Chubb, PO Box 1600, Whitehouse Station, NJ 08889. Confinement benefits reduce by 50% at age 65, and reduce to 25% at age 75.
Accidental Death and Dismemberment Insurance†
Help protect your family's financial future and receive $2,000 of insurance coverage (underwritten by Minnesota Life Insurance Company)
Product Features & Benefits
Must be an American Savings Bank customer 18 years or older
$2,000.00 coverage at no cost to you and is complimentary of American Savings Bank
In addition, you can purchase Additional Coverage at group rates
You are pre-authorized for Additional Coverage up to $300,000
Your acceptance is guaranteed - No Medical Exams or Health Questions
- Benefits are paid to your beneficiary if you die from a covered accident
- You cannot be turned down for the Bank Paid Coverage —or any additional coverage you may select. All coverage reduces by 50% at age 70 and older, regardless of age at enrollment
Andrea Heger, Licensed Insurance Agent #17321851
0122
1947555
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†
Not FDIC Insured
Not Bank Guaranteed
May Lose Value
Not Insured by any Federal Government Agency
Not a Bank Deposit
Biz Money Market
Product Features & Benefits
$1,000 Minimum Opening Deposit
No Monthly Service Fee with a $1,000 minimum daily balance OR $2,500 minimum monthly average balance, otherwise $10 per month
Competitive rates with interest that's compounded daily and credited monthly
Access funds by check1
Free Phone Banking services and Online Banking for Business
Interested in learning more?
Common Questions:
Both a Biz Money MarketSM account and Biz Tiered Savings account pay higher interest for higher balances. The Money Market account provides the ability to write checks. Compare All Business Savings Accounts.
A checking account is considered dormant at 12 months of inactivity and a savings account is considered dormant at 36 months of inactivity. While your account is dormant, you will not be able to access the ATM or use your debit card at point-of-sale (POS) terminals.
You may set up recurring transfers using the Automatic Payments and Transfers form. You may also make online transfers using Online Banking for Business or deposit funds to your savings account at any full service ATM/branch.
We offer options for domestic and foreign wire transfers. Visit a branch or call the Customer Banking Center at (808) 627-6900 or our toll-free number at (800) 272-2566 for assistance. Download Wire Transfer Request form.
- There are limits to the number of checks processed per statement cycle.
Biz Essentials Checking
Perfect for beginning your business with Online Banking and no monthly service fees
Tap your contactless ASB Visa® Debit Card or connect it to your smartphone and pay while on-the-go
Biz Essential Checking
Product Features & Benefits
Monthly service fee waived with enrollment in Online Banking and eStatements; otherwise $5 per month
Manage and control your money with free Online Banking user access1
Deposit checks from your job site or office with Mobile Deposit
Track spending expenses by using your Platinum VisaTM Business Debit Card
50 Free Transactions2 (checks processed and/or checks deposited per month); $0.50 per transaction thereafter
Free Online Banking; optional services you select may incur fees
Discounted Online Banking (no basic monthly fee for access for up to 4 accounts, subject to other Online Banking fees)
Overdraft Protection3, Phone Banking4 and night depository for after-hour deposits
Interested in learning more?
Common Questions:
Yes, each business checking account requires a minimum opening deposit. Visit our business checking account comparison page to learn more.
Yes, you are provided with a Visa® Business Debit Card with your checking account.
A checking account is considered dormant at 12 months of inactivity and a savings account is considered dormant at 36 months of inactivity. While your account is dormant, you will not be able to access the ATM or use your debit card at point-of-sale (POS) terminals.
- Free Online Banking for one user; optional services you select may incur fees.
- Transactions include checks processed and/or checks deposited (excluding cash deposits and certain electronic debits such as preauthorized debits and credits, ATM and point-of-sale transactions).
- For Savings Overdraft Transfer, a Biz Statement Savings or Biz Tiered Savings account is required to participate in this service. Regulatory transfer limits apply and a fee is imposed on the checking account for transfers made. Overdraft protection line of credit; subject to credit approval.
- Online, telephone, and overdraft transfers combined with other transfers from savings and money market accounts are limited to six (6) per monthly cycle.
Biz Deluxe Checking
Optimal for businesses with high-volume transactions and larger balances
Tap your contactless ASB Visa® Debit Card or connect it to your smartphone and pay while on-the-go
Biz Deluxe Checking
Product Features & Benefits
Outgoing Wire Fee discounts
Discounted Online Banking for Business (no basic monthly fee for access for up to 4 accounts, subject to other Online Banking fees)
Online Banking for Business ACH1 and Wires Modules discount
Interested in learning more?
Common Questions:
Yes, each business checking account requires a minimum opening deposit. Visit our business checking account comparison page to learn more.
Yes, you are provided with a Visa® Business Debit Card with your checking account.
A checking account is considered dormant at 12 months of inactivity and a savings account is considered dormant at 36 months of inactivity. While your account is dormant, you will not be able to access the ATM or use your debit card at point-of-sale (POS) terminals.
- Subject to application and credit approval.
- For Savings Overdraft Transfer, a Biz Statement Savings or Biz Tiered Savings account is required to participate in this service. Regulatory transfer limits apply and a fee is imposed on the checking account for transfers made.
Analyzed Checking
Specifically designed for businesses with high-volume transactions that require specialized services
Tap your ASB Visa® Contactless Debit Card or connect it to your smartphone and pay while on-the-go
Analyzed Checking
Product Features & Benefits
No minimum opening deposit1
Monthly fee: $12.502
Receive earnings credit based on your investable balance, which can be used to offset other monthly service fees
Night depository for after-hour deposits
Month-end statements (images, electronic, and CD-ROM)
Analyzed statements provide a breakdown of the services your business uses most
Eligible to sign-up for all Cash Management products and services
Interested in learning more?
Common Questions:
Yes, each business checking account requires a minimum opening deposit. Visit our business checking account comparison page to learn more.
Yes, you are provided with a Visa® Business Debit Card with your checking account.
A checking account is considered dormant at 12 months of inactivity and a savings account is considered dormant at 36 months of inactivity. While your account is dormant, you will not be able to access the ATM or use your debit card at point-of-sale (POS) terminals.
- We reserve the right to close an account that has a zero balance for 30 or more consecutive calendar days.
- Can be offset by earnings credits.
- Subject to credit approval.
Saving at Any Age
By
ASB February 24, 2021 | 5 min read PersonalSaving is an important step toward overall financial health. From a child’s first account to retirement planning, good savings habits can help you to build savings for life.
Our goal at American Savings Bank is to help you make smart financial decisions. Whether you’re just beginning to save or are ready to tackle some long-term goals, check out the tips below on how to save wisely.
BUILDING HEALTHY SAVINGS FOR LIFE
The key to reaching your savings goals is to set up and follow good savings habits, as soon as you can.
To get started, take our financial checkup to get a better idea of your current financial health. You’ll also receive access to resources customized to fit your biggest financial goals.
SAVING FOR LIFE EVENTS
Do you hope to someday buy a new car, get married, start a family, buy your first home or retire? Planning for big purchases and life events by saving up money can help you to reach your financial goals.
Although your specific strategy may differ depending on your goal, here are a few tips you can follow to build your savings for life:
- Set a Timeline: Write down your future life events and major purchases, then work backwards to determine how much you’ll need to save over time. Setting goal dates can help you to stay motivated and save.
- Estimate Costs: Go over your plans and count up all of the costs involved. Having a baby, for example, includes healthcare costs as well as costs like diapers and baby furniture. Once you have your costs, prepare a budget that you can track over time.
- Start a New Account: Open a savings account specifically for your financial goal – for example, you can have a “House Savings Account” where you contribute to regularly, and refuse to touch until you’re ready to buy your house. Having a separate account for a specific goal can help you to monitor how close you are to reaching it while reducing your chances of spending the money on other things.
- Automate Savings: Use automatic transfers to contribute to your savings on a regular basis. Using your bank’s Online Banking, you can automatically transfer a set amount every time your paycheck is deposited into your account.
- Prepare for the Unexpected: We suggest saving at least three to six months’ of living expenses in an emergency fund. Your emergency fund provides you with a safety net in case you lose your job or encounter unexpected expenses.
TEACHING KEIKI HOW TO SAVE
- As a parent, you can help give your children a leg up by teaching them good money habits from a young age. Opening a savings account in your keiki’s name is a great place to start. You can have your children deposit money they get from birthday or holiday presents into the account.
- Over time, this money grows and could even earn interest. By the time your child reaches adulthood, they should be able to see the benefits of long-term savings.
- Education planning is another smart money move for parents in Hawaii. The sooner you start saving for education, the more time your money has to grow. Consider opening a college fund account for each of your children.
- Depending on the type of account you choose, you might receive access to tax benefits on your savings. Be sure to talk with your tax advisor to determine which account is right for you.
SAVING FOR RETIREMENT
Retiring is an exciting time for many Hawaii residents, yet there may be some worry about the loss of stable income from your job. Planning and saving for retirement is key to maintaining your lifestyle when you retire.
There are lots of retirement accounts to choose from when saving for retirement. Speak with an experienced financial consultant to learn more about different account types. A consultant can help you find which accounts work best for your financial situation and target retirement date.
GET STARTED
Ready to start saving for your next big milestone? We’re here to help you get started! Make an appointment to speak with a member of our experienced team at ASB, who can help you to start saving today.
Nothing contained in this material is intended to constitute legal, tax, securities or investment advice, nor an opinion that it is appropriate for readers. The information that is contained in this material is general nature. Readers should seek professional advice for their respective situations.
Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFG STC Insurance Agency LLC), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Cetera is not affiliated with the financial institution where investment services are offered. Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.
300 N Beretania Street, Honolulu, HI 96817 (808) 735-1717
Not FDIC Insured
Not Bank Guaranteed
May Lose Value
Not Insured by any Federal Government Agency
Not a Bank Deposit
Why you should get life insurance early
By
ASB February 17, 2021 | 5 min read PersonalLife insurance isn’t something young adults consider an immediate need. You might understand the benefit of having a life insurance policy when you’re older, but is it really important in your twenties or thirties?
Surprisingly, getting a life insurance policy when you’re young can benefit you well into your adult life. Even if you’re single, childless, and don’t own a lot of assets, taking out a life insurance policy now could be a smart financial move. Read on to see why you should get life insurance when you’re young.
TAKE ADVANTAGE OF LOWER PREMIUMS
In most cases, life insurance premiums are lower when you’re younger. A young, healthy person is generally expected to live a long life, which reduces the risk for the insurance company. They can offer lower rates on your policy because it’s unlikely they’ll need to pay a claim.
If you wait to apply for life insurance until you’re older, you can expect to pay a higher rate. Someone middle-aged is almost always going to be a higher risk than a young adult with the same health profile. Even if you’re in great health when you’re older, you’ll still face higher rates than if you get a policy now.
GET COVERAGE WHILE YOU’RE HEALTHY
Good health can help you keep life insurance costs down. Being young and healthy means you have access to the lowest life insurance premiums available from most insurance providers. If you do get in an accident or develop an illness in the future, a policy that’s in use can’t be canceled due to the change in your health.
PROTECT YOUR FAMILY’S FUTURE
Along with saving on premiums, one of the biggest reasons why you should get life insurance early is the ability to protect your loved ones. Life insurance provides the financial assistance your family needs if you pass away unexpectedly.
BENEFITS OF LIFE INSURANCE FOR MARRIED COUPLES AND PARENTS
Did you recently get married or start a family? Young married couples in Hawaii should consider life insurance as a safety net in case one spouse dies prematurely. If you or your spouse pass away unexpectedly, your life insurance policy can help cover the financial burden of losing your income.
Life insurance is even more important when you have children. Even if you plan a budget for having children, you’re going to face even more expenses if one of you passes away. A life insurance policy can help ease some of the financial stress and help your children maintain their lifestyle after you’re gone.
LIFE INSURANCE TO PAY FOR YOUR DEBTS
Buying your first home in Hawaii means taking on new and exciting responsibilities. Sure, you’ll probably need to learn some basic home maintenance skills. You’ll also need to think about what happens to your house if something happens to you.
A life insurance policy helps you keep your loved ones out of debt if you suddenly pass away. They can use the policy’s benefit to pay off the mortgage or pay for costs to sell the house.
Mortgages aren’t the only debt protected by life insurance. Your family may be responsible for things like auto loans or private student loans if you pass away. By taking out a life insurance policy, you help reduce the cost of your debt in the event of your death.
SHOULD YOU GET LIFE INSURANCE IF YOU’RE SINGLE WITH NO ASSETS?
Even if you’re not married, have no kids, and don’t own a home, getting life insurance is a smart choice. If something unexpected happens to you, your family is still responsible for funeral and burial costs. These costs can add up quickly and put financial stress on your loved ones, in addition to the emotional burden of your passing. A life insurance policy can help cover the costs associated with your passing.
LEARN MORE ABOUT LIFE INSURANCE
Ready to learn more about why you should get life insurance as a young adult? Our team at American Savings Bank can help you navigate your insurance options to find the best fit. Make an appointment today to speak with an insurance expert and learn how life insurance could benefit you.
Nothing contained in this material is intended to constitute legal, tax, securities or investment advice, nor an opinion that it is appropriate for readers. The information that is contained in this material is general nature. Readers should seek professional advice for their respective situations.
Securities and insurance products are offered through Cetera Investment Services LLC (doing insurance business in CA as CFG STC Insurance Agency LLC), member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC. Cetera is not affiliated with the financial institution where investment services are offered. Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation (commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.
300 N Beretania Street, Honolulu, HI 96817 (808) 735-1717
Not FDIC Insured
Not Bank Guaranteed
May Lose Value
Not Insured by any Federal Government Agency
Not a Bank Deposit
The 411 on the Earned Income Tax Credit (EITC)
By
ASB January 30, 2024 | 5 min read OtherNote: This post shares information relevant to tax filers. Consult your tax advisor for information regarding your individual situation.
Have you heard of the Earned Income Tax Credit? Also known as the EITC or EIC, this federal tax credit helps eligible individuals and families with a tax break. Due to the economic impacts of the COVID-19 pandemic, more Americans may be eligible for the EITC this year.
If you received a letter from the IRS about the EITC, there’s a good chance that you qualify. Those who qualify for the EITC can use the credit to reduce the taxes they owe and possibly increase their tax refund. To claim the EITC, you need to meet certain qualifications and file a tax return, even if you have no other filing requirement or don’t owe any tax.
Eligibility for the EITC
To receive the EITC, you must have income from at least one of the following:
- Work for your employer or someone else,
- Work for yourself,
- A business or farm you own or operate, or
- Some disability plans
The EITC is for workers whose income does not exceed the following limits in 2023:
- $56,838 ($63,398 married filing jointly) with three or more qualifying children
- $52,918 ($59,478 married filing jointly) with two qualifying children
- $46,560 ($53,120 married filing jointly) with one qualifying child
- $17,640 ($24,210 married filing jointly) with no qualifying children
** Investment income must be $11,000 or less
EITC eligibility is also dependent on several factors, including income and family size. If you don’t have a qualifying child and earned under $15,820 ($21,710 married filing jointly), find out if you qualify for a smaller credit, worth as much as $538.
How to Claim the EITC
To claim the EITC, you must file Form 1040, US Individual Income Tax Return, or Form 1040 SR, U.S. Tax Return for Seniors, with your tax returns. If you have a qualifying child, you must also file the Schedule EIC (Form 1040 or 1040-SR), Earned Income Credit to give the IRS information about them.
Receiving the EITC
The EITC is issued via the taxpayer’s tax refund. You can check your refund status online using the IRS’ Where’s My Refund tool at www.irs.gov/refunds.
For more information about the EITC, visit the IRS’ website at www.irs.gov/eitc.