What are qualified expenses?

Qualified expenses may include tuition, fees, tutoring, books, and supplies — even the purchase of computer technology or equipment or internet access used by the student and family when the student is in school.

What types of contributions can be made?

Non-deductible contributions may be made annually to each child's account. The deadline for contributions is the same as the contributor's tax filing deadline, not including extensions. Contributions cannot be made for a designated beneficiary who is over age 18 (unless the beneficiary is of special needs).

When will interest be credited to my checking or savings account?

Interest is compounded daily and credited to your account monthly. If your account is closed or is transferred to a non-interest bearing account before interest is credited, you will not receive the accrued interest. If the interest amount calculated for the monthly cycle is less than half a cent, interest will not be paid.

How do I know what rate I'm receiving on my checking or savings account?

The interest rate and annual percentage yield (APY) on your account are shown in the separate Customer APY and Interest Rate Sheet (Rate Sheet). Your interest rate and APY may change. At our discretion, we may change the interest rate on your account at any time. An APY is an annualized rate that allows you to compare rates across deposit products. View our current rates.

What's the difference between a Money Market Savings and Tiered Savings?

Both a Money Market Savings account and ASB Tiered SavingsSM account pay higher interest for higher balances. The Money Market account provides the ability to write checks. Compare All Personal Savings Accounts.

When will interest be credited to my checking or savings account?

Interest is compounded daily and credited to your account monthly. If your account is closed or is transferred to a non-interest bearing account before interest is credited, you will not receive the accrued interest. If the interest amount calculated for the monthly cycle is less than half a cent, interest will not be paid.

How do I know what rate I'm receiving on my checking or savings account?

The interest rate and annual percentage yield (APY) on your account are shown in the separate Customer APY and Interest Rate Sheet (Rate Sheet). Your interest rate and APY may change. At our discretion, we may change the interest rate on your account at any time. An APY is an annualized rate that allows you to compare rates across deposit products. View our current rates.

When is a checking or savings account considered dormant?

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.

What savings accounts are available for my child?

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.

When will interest be credited to my checking or savings account?

Interest is compounded daily and credited to your account monthly. If your account is closed or is transferred to a non-interest bearing account before interest is credited, you will not receive the accrued interest. If the interest amount calculated for the monthly cycle is less than half a cent, interest will not be paid.

How often will I receive bank statements?

For checking and money market accounts, a statement will be provided to you monthly. For savings accounts a statement will be provided to you at the end of each calendar quarter. You will receive an additional statement for any month in which you perform electronic fund transfers. If your savings account is part of the combined statement, a monthly statement will be provided instead of a quarterly statement.

When is a checking or savings account considered dormant?

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.

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ASB Earns Great Place to Work® Certification

March 18, 2021 | 5 min read News Releases

Great Place to Work logo

This month, American Savings Bank was officially certified a Great Place to Work^®, a designation awarded to the top companies around the world.

ASB joins an elite group of certified companies globally that have worked hard to create an excellent workplace culture for its teammates. The certification process includes a company-wide survey and written nomination. Highlights from the survey results include:

90% of teammates say ASB is a great place to work (compared to 59% at a typical U.S.-based company)
94% of teammates say that when you join ASB, you are made to feel welcome
94% of teammates feel they are treated fairly, regardless of their gender
95% of teammates feel good about the ways ASB contributes to the community

“We’re proud to renew our Great Place to Work® Certification, a recognition that validates our commitment to providing a top-notch teammate experience at ASB,” said Rich Wacker, President and CEO of American Savings Bank. “This means so much to us, especially after a challenging year like 2020. We owe this recognition to our outstanding teammates who work hard, each and every day, to make dreams possible for our customers.”

ASB has garnered both local and national awards for its unstuffy and teammate-focused culture, tremendous growth opportunities and one of the best benefits packages in the state – including weekly paydays, a casual dress code, generous Paid Time Off program, pet insurance and more. It has been named one of the “Best Places to Work in Hawaii” by Hawaii Business magazine for 12 consecutive years and honored nationally as one of the “Best Banks to Work For” by American Banker magazine. Fortune magazine has also recognized ASB as one of the 100 Best Workplaces for Women and 50 Best Workplaces for Diversity.

Great Place to Work® is the global authority on workplace culture, employee experience, and the leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation.

“Great Place to Work Certification™ isn’t something that comes easily – it takes ongoing dedication to the employee experience,” said Sarah Lewis-Kulin, vice president of global recognition at Great Place to Work. “It’s the only official recognition determined by employees’ real-time reports of their company culture. Earning this designation means that American Savings Bank is one of the best companies to work for in the country.”

According to Great Place to Work research, job seekers are 4.5 times more likely to find a great boss at a Certified great workplace. Additionally, employees at Certified workplaces are 93% more likely to look forward to coming to work, and are twice as likely to be paid fairly, earn a fair share of the company’s profits and have a fair chance at promotion.

About Great Place to Work Certification^TM
Great Place to Work® Certification™ is the most definitive “employer-of-choice” recognition that companies aspire to achieve. It is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace. Great Place to Work Certification is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place to Work-Certified.

About Great Place to Work^®
Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace: trust. Their employee survey platform empowers leaders with the feedback, real-time reporting and insights they need to make data-driven people decisions. Everything they do is driven by the mission to build a better world by helping every organization become a great place to work For All^TM.

Learn more at greatplacetowork.com and on LinkedIn, Twitter, Facebook and Instagram.

Media Contact

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

George Evan Davis

George Evan Davis has lived the life of a young starving artist, had two successful careers and is now retired. He has returned full circle to his art roots. George uses oils, acrylics and mixed media to create art ranging from the realistic to the unconventional. His style varies depending on the subject. He loves the delicacy and focus that comes with capturing the essence of a figure on canvas. His abstract artwork allows him to make a statement and create unique pieces.

Steven Kean

Residing on the North Shore of Oahu since 2008, Steven Kean is an accomplished artist and art educator specializing in woodcut prints. His work is driven by a deep passion for both the artistic process and the ocean, which serves as a constant source of inspiration.

Kean’s art has been showcased internationally, throughout the Hawaiian Islands, and across the continental United States. He has been involved in several high-profile commissioned projects with brands such as Google, Starbucks, Four Seasons, Vans, Olukai, Kahala MKT by Foodland Hawaii and Hawaii Tourism Japan.

Sasha Lynn Roberts

Sasha Lynn Roberts, a Brooklyn-born artist in Haleiwa, Hawaii, explores nature and the human form through vibrant, surreal compositions. Blending digital illustrations with acrylic painting, her work celebrates resilience, space and identity in nature. A prodigious talent, her artwork appeared in the Metropolitan Museum of Art at age 13. She later studied at New York University Tisch School of the Arts and Hunter College, earning her degree at 19. Her art has been exhibited globally, including at the MET, Rockefeller Center, Hawaii’s Downtown Art Center and Miami Art Basel.

How it works:

Hawaii artists may apply to have their artwork featured in the ASB Loʻi Gallery for four months. Selected artists will receive a stipend of $500 at the end of the showing and must donate 20% of proceeds to the designated nonprofit beneficiary for the rotation. Additional terms will be provided to selected artists. ASB will host a reception, where artists may invite their friends and family to join the festivities and invited guests receive an exclusive opportunity to view and purchase artwork unique to the gallery before it opens to the public.

Criteria:

Loʻi Gallery artwork must be:

Original work, owned and created by the artist.

Available for sale.

.Mountable on drywall plaster, without plywood backing.

Approved by American Savings Bank.

Loʻi Gallery artwork must not be:

Offensive or contain nudity, violence or explicit language.

Discriminatory against race, color, national origin, ancestry, religion, age, gender, sexual orientation or disability.

Commissioned to a third party.

Submit your application by clicking the “Apply Now” button below and emailing us the following information:

First and last name

Contact information (e-mail and phone number)

Summary of 10 - 15 art pieces (titles, prices and sizes)

Pictures of artwork

Social media handles

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Are you working from home? Here's how to save money while doing so

March 10, 2021 | 5 min read Other

The COVID-19 pandemic has led many workplaces around the world to transition employees to remote work. While working from home can be an exciting change, it can also have unexpected impacts on your budget. Use this list to help you identify where you can save money – and avoid losing it – when working remotely.

working from home

Recognize potential savings

When your home is your office, you may immediately start seeing savings in your everyday routine.

Commuting costs

For many, the biggest savings when working from home is in eliminating the commute to work. Whether you drive or take public transportation, working from home can help you to cut transportation costs, such as gas, car maintenance, bus fees, parking and more. One way to save even more money is to contact your car insurance provider and see if there are any potential discounts if you’re driving your car significantly less.

Cup of joe

Are you the type of person who grabs a cup of coffee from your neighborhood café, every morning before work? Making your morning brew at home can save you quite a bit of money, as well as time. You may need to invest in some kitchen gear, such as a coffee maker or teapot, but your savings over time will add up. Consider continuing to support your favorite local café by buying beans or teas in bulk from their shop to make at home.

man working from home

Home lunch

From business lunches to team meals, eating lunch at the office can be costly when dining out and frequenting your favorite eateries. Like your morning coffee, you can save money while working remotely by making lunch at home. Working from home also may mean going to less pau hanas or dinners out, further reducing the amount you spend on eating out.

Dress code

Many have joked that the COVID-19 work from home uniform is a work shirt with sweatpants on the bottom. The rise of video conferences and calls certainly has a silver lining: you can save money on your work wardrobe! Instead of buying new clothes for the New Year, consider wearing what you already have – by only seeing you on a screen, it’s unlikely that people will even notice if your clothes are newer or not. You can also save money on hair and make-up products if you aren’t shown on camera on a daily basis.

Working on your fitness

Did you frequent the gym prior to the pandemic? Your gym may have been forced to close due to county restrictions. Check your payment schedule and make sure you aren’t being charged if your gym is closed. If you aren’t comfortable going to the gym during the pandemic, consider asking to have a hold put on your charges until you feel safe, or cancelling your membership and renewing it once you’re ready. With many people now exercising from home, the amount you pay for your monthly gym fee could also be reallocated to at-home work equipment or an online fitness program.

mother and daughter

Childcare expenses

Childcare is one of the biggest unexpected expenses you might face after having children. Working from home and caring for your children at the same time is certainly not easy. However, if you can manage the workload or have a close family member or friend in your social bubble help to watch over your kids, you could potentially save thousands of dollars.

Prepare for possible expenses

You can save a lot of money by working from home, but you may see other expenses increase. Remember to include these new or higher expenses in your budget, and plan for how to address them.

Increased utilities

Being at home all day means you may be using your utilities more than usual. You usually wouldn’t need electricity during the day when working at the office. Now, you’ll have to power your computer and any other electronics or devices you may need throughout the day.

Your work computer isn’t the only factor in increased utility bills. You’ll need to run lights to see when it’s dim. You might have to run a fan or air conditioning to keep cool. Making lunch, coffee, or powering workout equipment can also increase your utility costs. Keep an eye on your utility bills and explore ways to save energy, such as using energy-efficient light bulbs and appliances.

lady on computer doing work

Grocery and household costs

You may be eating out less, but eating in more can still come with additional costs. Expect your grocery expenses to increase as you start making more meals at home. Hopping on the sourdough or banana bread trend? Ingredients or larger quantities of essentials like flour or sugar could cause a higher grocery bill. You’ll likely go through other household essentials faster than usual as well, such as toilet paper, hand soap, and cleaning supplies since you’ll be using them more often. When doing your grocery shopping, use a list to avoid impulse buys and check prices for the most value and sale items. You can also look for coupons online or in your grocery store’s app to see if there are even more ways to save.

Home office

You may find yourself working at your kitchen counter or dining table, but that doesn’t necessarily mean it’s the best place for you to work. It may be worth a bit of extra money to invest in home office equipment, such as an ergonomic desk chair or standing desk, to allow you to feel more comfortable and be more productive.

Other expenses like computer paper or printer ink can increase the cost of a home office. Depending on your needs and your employer, you might be on the hook for most of your office furniture or supplies expenses on your own. Check to see if your employer may offer a reimbursement.

Keep track of your work from home savings and expenses

The most important way you can manage your finances while working from home is to maintain a budget of your savings and expenses. Create two lists – one for your expected expenses during one month of working from home, and one for your expected savings and income. Looking at both lists, you can then get a better sense of what costs you can save or prepare for in the future and make adjustments accordingly. It may take you a month or two to get the hang of it, but remember: budgets are flexible to your needs, and you have the tools to revise them until you get it to where it works for you. Click here for some of our budgeting tools.

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.