Business Financial Hardship Resources

Local businesses are the backbone of our community and we will be by your side to see you through this challenging time. Your business bankers are equipped and experienced to get you the assistance you require.

For those who were able to attend the SBA Webinar on August, 21st, we hope you found the information valuable. For those who were not able to attend, please find the recording below. We've also provided the webinar materials for you to download and reference.

 

 

SBA Maui Disaster Relief Webinar from American Savings Bank on Vimeo.

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disaster loan

Businesses of any size and most private nonprofit organizations may apply for a loan to recover after a disaster.

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ECONOMIC INJURY
DISASTER LOAN (EIDL)

A loan based on your actual economic injury and your company's financial needs, regardless of whether the business suffered any property damage.

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FINANCIAL HARDSHIP ASSISTANCE

Qualifying customers may receive up to 3 months in the form of either:

  • Loan forbearance
  • Loan deferment

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Card Processing Assistance

We are waiving merchant services fees for any ASB business customer whose Clover POS system was affected by the Maui wildfires, and we'll also help to get your business back online when you are ready.

Please call Card Processing Support at (808) 625-5600 for assistance.

If you have any questions, please reach out to our Business Banking team through the form below.

Financial Hardship Assistance Form

We are committed and dedicated to our community and the businesses that help run Hawaii’s economy. As we navigate through these challenging times, we are offering assistance to our business customers facing financial hardships.

We’re here for you, and we have solutions to help our business customers who are facing financial hardships.

Please complete our Business Financial Hardship form to the right and one of our Business Bankers will reach out to you on how we can help.

Qualifying customers may receive assistance for up to 3 months in the form of one of the following:

  • Loan forbearance
  • Loan deferment

For credit cards, please call (800) 558-3424.

 
 
 
 
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Financial Hardship Resources

American Savings Bank (ASB) is committed to assisting, supporting and providing solutions for our customers during challenging times. Please see the available resources we provide below to assist you during times of financial hardship.

Financial assistance options via the hardship form

Loan Forbearance

 

A pause in payments, requiring the repayment of the missed amount when the forbearance period ends. Interest still accrues during the period and your credit may be impacted.

 

Loan Deferment

 

A delay in payments where interest accrues during the deferment period. When repayment resumes, payment will go towards accrued interest first. You will also have a larger final payment. Your credit will not be impacted.

 

Loan Extension

 

Temporary extension of reduced or delayed payment for your mortgage loan, personal unsecured loans and/or lines of credit.

 

Financial Hardship Assistance Form

Please complete this form and we'll be in touch with you in 1-2 business days on how we can help.

Qualifying customers may receive assistance for up to 3 months in the form of one of the following:

  • Loan forbearance
  • Loan deferment
  • Loan extension

For more information, please email us at hardship@asbhawaii.com.

Please provide current proof of income (including unemployment) if you are requesting assistance. Examples of proof of income:

  • Pay Stubs
  • Bank statements showing direct deposits from employer
  • General Excise Tax (“GET”) statements
  • Transient Accommodation Tax (“TAT”) statements
  • Other documents evidencing employment
  • Business bank statements
  • Most recent tax returns

We may ask for additional documentation based on your situation.

Or, you may also contact:

 
 
 
 
*Required Field
ASB Banker
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Unsure where to start? Schedule an appointment with one of our expert bankers to help you with any of your financial needs. Our bankers are available by phone, in person or video call.
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Adrian Holmes

Assistant Vice President, Financial Planning Coordinator

 

American Savings Investment Services

Phone: (808) 952-7024
adrian.holmes@asbinvestments.com

Adrian Holmes is a dynamic individual with a diverse range of interests. He holds Series 6, 63, and 65 securities registrations in addition to life, health, and disabilities licenses. When he’s not playing or coaching basketball, he can be found enjoying a round of golf, hiking with friends, or at the beach. He has a passion for learning languages, traveling, and exploring different cultures.

Adrian’s commitment to his community shines through his volunteer activities. He dedicates his time to coaching, beach clean-ups, assisting the kupuna, and engaging in community outreach. In 2020, he fulfilled his dream by opening the Hale Hoop basketball academy, providing a nurturing environment for aspiring athletes.

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American Savings Bank Reaffirms Strong Capital Position, Excellent Credit Quality and Ample Liquidity in Aftermath of Maui Wildfires

ASB August 22, 2023 | 3 MIN read News Releases

American Savings Bank (ASB), is well positioned and stands ready to support the community as families heal and rebuild in the aftermath of the Maui wildfires.

“ASB has served the residents and businesses of Hawaii for nearly 100 years. We are heartbroken for our community but committed to use our strong liquidity and capital position to help Maui rebuild,” said Ann Teranishi, president and CEO of American Savings Bank. “We are here to support our community and work with borrowers through this challenging time and beyond.”

ASB is an independent company founded in 1925. ASB’s loyal and long-tenured deposit base demonstrates the value of its customer relationships: 79% of its deposits are FDIC-insured and 7% are fully collateralized. ASB has deep lending capacity, with 273% liquidity coverage for uninsured deposits. ASB customer deposits are safe. There is no risk to customer deposits as a result of legal claims related to the fires.

ASB has consistently been well capitalized above the regulatory minimums, with a leverage ratio of 7.79% and Common Equity Tier 1 Capital Ratio of 12.23%. ASB has over $3.1 billion of secured borrowing capacity at the Federal Home Loan Bank and Federal Reserve.

ASB remains focused on supporting its teammates, customers, community and partners during this challenging time. ASB recently announced a $100,000 commitment, including $50,000 to Hawaii Community Foundation’s (HCF) Maui Strong campaign, $25,000 to American Red Cross and $25,000 to Maui United Way. To date, ASB has collected more than $160,000, as part of the Hawaii Bankers Association’s Aloha for Maui Fund. All funds from this effort will be provided to HCF’s Maui Strong campaign.

Currently, all ASB’s Maui ATM fees and various other fees are being waived. ASB is also offering 90-day forbearance and deferment for commercial and consumer loans. Customers can also apply for an emergency personal line of credit up to $5,000.

For more information on ASB’s Maui Relief & Assistance Programs, visit asbhawaii.com/maui

MEDIA CONTACT
Shara Aiu, American Savings Bank
syaiu@asbhawaii.com

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American Savings Bank Pledges $100,000 to Wildfire Relief Efforts

ASB August 09, 2023 | 1 MIN read News Releases

American Savings Bank (ASB) committed to donate $100,000 to nonprofits, including the American Red Cross, to provide assistance to local residents and businesses affected by the devastating wildfires on Maui and Hawaii Island.

“Our hearts go out to all those impacted by the fires,” said Ann Teranishi, president and CEO at American Savings Bank. “We are glad that our teammates are safe and we are committed to supporting our customers and communities through this challenging time.”

The funds will be dispersed to nonprofits working to support on-the-ground recovery efforts and assist in long-term rebuilding plans.

For updates on branch hours, please visit www.asbhawaii.com.

Media Contact

Karwin Sui
Communications Manager
(808) 539-7268
ksui@asbhawaii.com

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American Savings Bank Opens Registration for 2023 Bank for Education KeikiCo Contest

ASB August 04, 2023 | 2 MIN read News Releases

American Savings Bank (ASB) is excited to announce the return of its Bank for Education KeikiCo Contest, an annual business plan competition that empowers young entrepreneurs with financial education and offers student teams a chance to win up to $25,000 for their school. Following a successful 2022 competition, which drew participation from nearly 400 students in grades 3 to 12, the KeikiCo Contest returns for its sixth year.

St. Andrew School Students for KeikiCo Contest

“Our KeikiCo Contest never fails to amaze us with the incredible talent displayed by Hawaii’s young leaders,” said Ann Teranishi, president and CEO at ASB. “Their dedication, innovation, imagination and creativity fill us with hope for a brighter future. At ASB, we are committed to providing financial education resources and opportunities to empower young entrepreneurs in building a stronger and more diverse Hawaii. Together, we can drive positive impact for generations to come.”

About ASB’s KeikiCo Contest

The KeikiCo Contest, launched in 2015 and now held annually due to popular demand, inspires young innovators, dreamers and visionaries to think creatively and contribute positively to the community. Students in grades 3 to 12 are invited to form teams of two to five members and submit their business plan ideas to a distinguished panel of judges for a chance to win up to $25,000 for their school communities.

Teachers and advisors will receive a video curriculum, worksheets, mentorship and online resources to further empower students. Through this competition, ASB remains committed to providing valuable financial education resources and a platform for young leaders to flourish, cultivating a stronger and more diversified economy.

ASB presents 1st and 2nd place awards in three divisions – elementary, middle and high school – along with the coveted People’s Choice award for each division, determined through public voting on video entries, and special mentions to commend exceptional out-of-the-box ideas. As a bonus, students of first place teams receive a bonus cash prize of up to $500 to invest in their future education or business idea.

Beyond the competition, KeikiCo winners receive exclusive membership to ASB’s Bank for Education Ohana, granting access to invaluable perks, including opportunities to apply for grants, volunteer service support from ASB teammates, priority consideration for scholarships and internships and participation in special events with distinguished guests like NASA astronauts and Olympic athletes.

Student Teams Are Invited to Apply by Aug. 11

Teachers and school administrators are encouraged to rally their students and sign up for the KeikiCo Contest. The competition is open to the first 60 schools that submit a School Registration Form.

Important Contest Dates

  1. Aug. 11: Registration deadline
  2. Aug. 14: Contest begins
  3. Oct. 30, 5 p.m.: Deadline to submit business plans, video pitches and waivers
  4. Nov. 20 - Dec. 1: People’s Choice voting
  5. Dec. 4: Winners notified
  6. Dec. 7 - 21: Award ceremonies

In 2022, ASB awarded more than $140,000 to 21 teams from nine local schools. Since its inception in 2010, the Bank for Education program has contributed over $1.6 million to local schools, showcasing ASB’s commitment to enhancing education, bringing real impact to the community and uplifting Hawaii’s economic development.

To sign up for the competition and learn more about ASB’s commitment to fostering entrepreneurship and financial education, visit www.asbhawaii.com/keikico.

Media Contact

Karwin Sui
Communications Manager
(808) 539-7268
ksui@asbhawaii.com

Mobile Banking App Upgrade

We will be updating our ASB Hawaii Mobile App on Wednesday, August 23, 2023. Beginning August 23, all customers will need to update the ASB Hawaii app to the latest version in order to continue with mobile banking. For iOS, please update to version 4.0.588 in the App Store. For Android, please update to version 5.8.9 in GooglePlay. No updates or actions are required to access Online Banking via an internet browser.

Important: For iOS Users, you will be prompted to manually enter your Login ID and Password when you log in for the first time after the update is complete. There are a few items you may need to review to ensure an easy update experience.

iOS Users: Preparing for Your App Update

If you currently use Passcode or FaceID to access mobile banking, but do not recall your login credentials (Login ID and/or password), please take the time to verify or update this information.

Forgot Password Screenshot

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How to Reset Your Password

If you do not remember your password, you will be asked to reset it and taken through a multi-factor authentication process and sent a one-time use, secure access code. Remember: Do not share your secure access code with anyone. We will never ask for this code.

  1. Click or tap on Forgot Your Password? from the ASB Mobile app or browser
  2. Enter your Login ID
  3. You will be asked how you want to receive your secure-access code; select your preferred method
  4. Confirm your secure access code in the app or browser
  5. Click or tap on Change Password
  6. Log off and log back on by typing in your Login ID and new password
Reset password screenshot

Click to Enlarge

How to Change Your Password

  1. Login to Online Banking with the ASB Mobile app or browser
  2. Click or tap on Settings and then select Security Preferences
  3. Click or tap on Change Password
  4. Follow the password requirements
  5. Log off and log back on by typing in your Login ID and new password
Login ID Screenshot

Click to Enlarge

How to Change Your Login ID

  1. Login to Online Banking with the ASB Mobile app or browser
  2. Click or tap on Settings and then select Security Preferences
  3. Click or tap on Change Login ID
  4. Follow the Login ID requirements
  5. Log off and log back on by typing in your new Login ID and password
Jerah Subia's headshot

Jerah Subia

Vice President
Business Banker

 

American Savings Bank

NMLS #2512093
Direct: (808) 539-7958
jsubia@asbhawaii.com
Branch served: Kailua and Kaneohe, can meet at different branch locations by appointment.

Jerah joins the Business Banking team with nearly six years of experience in the finance industry. She is committed to making dreams possible and passionate about making banking easy and convenient with personalized solutions for her business customers. Jerah has extensive knowledge in commercial underwriting and consumer lending, which allows her to help her clients make the best decisions for their business.

Jerah studied accounting at Kapiolani Community College and graduated Summa Cum Laude from Farrington High School. Her interests include reading, traveling, watching a good tv series or movie, and spending time with her family, friends and puppies. Jerah is fluent in Ilocano.

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Hokuʻula

Getting pre-qualified for a home loan is a first step in securing your purchase agreement for a property at Hokuʻula, located in Kahului. Please contact our Maui lending team for financing solutions and for your free pre-qualification analysis.

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Hokuula
ASB Number One Lender

American Savings Bank is Hawaii's #1 Local Mortgage Lender*

*2024 State of Hawaii Bureau of Conveyances data, recorded total value of residential, non-wholesale, purchase mortgages.

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Hokuʻula Home Loans Team

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Lisa Carillo

Vice President 
Executive Residential Loan Officer

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NMLS #685883 
Mobile: (808) 463-2296 
lcarillo@asbhawaii.com

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Byron Yap

Vice President 
Residential Loan Officer

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NMLS #860092 
Mobile: (808) 280-3491 
byap@asbhawaii.com

Visit Our Loan Center

Kahului Loan Center

150 Hookele Street
Kahului, HI 96732
Phone: (808) 627-6900

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ASB Launches “This is HOME” First Time Home Buyer Program to Address Growing Housing Crisis

ASB July 18, 2023 | 2 MIN read News Releases

American Savings Bank (ASB) is proud to introduce “This is HOME,” a new first-of-its-kind affordable financing solution for first time home buyers designed to help hardworking kamaaina buy a home in Hawaii, so they can stay in Hawaii. As the state and counties place greater emphasis on solving Hawaii’s housing shortage, ASB’s “This is HOME” program will provide the lifeline residents need to get access to financing so they can realize their dream of affordable home ownership in Hawaii.

family in front of home

With a low down payment of 3%, discounted interest rate that will save borrowers hundreds of dollars on their monthly mortgage, lower mortgage insurance requirements and reduced closing costs, “This is HOME” offers a unique combination of benefits that is perfect for residents who can’t save enough for a traditional 20% down payment. 

“American Savings Bank is committed to helping solve our state’s growing affordable housing crisis and empowering kamaaina to achieve their dream of homeownership in Hawaii,” said Ann Teranishi, president and CEO at ASB. “‘This is HOME,’ along with our recent $4 million investment in homeownership opportunities for Native Hawaiians to purchase or refinance homes on Hawaiian homelands, is part of ASB’s ongoing commitment to uplift our community and make homeownership dreams possible for everyone in Hawaii.”

“This is HOME” empowers kamaaina to live where they love

With more Native Hawaiians now living outside of Hawaii than in Hawaii due to skyrocketing home prices, limited inventory and the high cost of living in the islands, the need for affordable housing solutions has never been greater. Many kamaaina simply resign to renting or move out of state in search of affordable housing. 

According to the Honolulu Board of Realtors, the median sales price in June for a single-family home was $1,050,000 and $510,000 for condos. With a traditional 20% down payment, a buyer would need $210,000 for a single-family home and $102,000 for a condo. “This is HOME” offers expanded income criteria, which provides access to funding for more of Hawaii’s hardworking kamaaina.

Benefits of “This is HOME” program:

  1. Expanded AMI: Available to individuals earning up to 140% of the area median income (AMI), which equates to $169,950 for a family of four or $118,950 for an individual borrower.
  2. Low Down Payment: Down payment as low as 3%, with only 1% required from the borrower and up to 2% from other sources.
  3. Lower Monthly Payments: Save hundreds of dollars on your monthly mortgage payment as a result of ASB’s discounted interest rate, lower mortgage insurance requirement, reduced closing costs and no added fees or pricing adjustments.
  4. Expanded Financing Eligibility: More properties are eligible for financing, including condos, which are typically restricted in first time home buyer programs.
  5. Complimentary Housing Counseling: Applicants, regardless of approval, will receive first time home buying resources and support from Hawaiian Community Assets and Hawaii HomeOwnership Center.

To apply or learn more about ASB’s first-time homebuyer resources, visit asbhawaii.com/thisishome.

Media Contact

Karwin Sui
Communications Manager
(808) 539-7268
ksui@asbhawaii.com

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    Saturday - Sunday: 9 a.m. to 3 p.m. HST

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