If you're self-employed, or if you own a small business with fewer than 10 employees, a SEP IRA (Simplified Employee Pension IRA) may be your best bet. Just like Traditional IRAs, SEP IRA earnings grow tax-free until withdrawal at retirement.†

Once you've set up a SEP plan for your business, you can open SEP IRAs for all eligible employees, including yourself.

Bank IRAs

  • Offered through American Savings Bank
  • FDIC-insured accounts
  • Fixed Terms

Brokerage IRAs†

  • Offered through Cetera Investment Services
  • Non FDIC-insured investments (mutual funds, annuities)

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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.

 
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Pension plans are best for businesses with more than ten employees, and are valuable for attracting and retaining top employees.

Traditional pensions are commonly referred to as Qualified Plans, and there are two types: Defined-Benefit and Defined-Contribution. Defined-Benefit Plans are funded by employer contributions and are guaranteed by the Pension Benefit Guaranty Corporation (PBGC). Employee-sponsored retirement plans such as 401(k), 403(h) and 457 plans are called Defined-Contribution plans. Defined-Contribution plans are funded in large part by employee contributions and are not guaranteed by the PBGC.

Defined Benefit Plan

  • Maximum Contribution - Amount needed to provide an annual benefit not larger than the smaller of $160,000 or 10% of the participant's average compensation for his or her highest three consecutive calendar years.
  • Maximum Deduction - Based on actuarial assumptions and computations.

Talk to your tax advisor to learn more about how pension plans can benefit your business.

Defined Contribution Plan

  • Maximum Contribution
    • Money purchased: smaller of $40,000 or 100% of the participant's compensation.
    • Profit sharing: smaller of $40,000 or 100% of participant's compensation.
  • Maximum Deduction
    • Money purchased: 25% of all participant's compensation.
    • Profit sharing: smaller of $40,000 or 100% of participant's compensation.

 

 

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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.

 
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The Benefits Add UP!

One of the best things you can do for your employees is help them set aside money for their retirement. Offer them a Pension Plan or IRA from American Savings Bank, and you'll have more great options for attracting and retaining employees.

All contributions are tax-deductible for employers and earnings are tax deferred until they're withdrawn. Best of all, these IRAs are simple to set up and administer – with no extra IRS reporting necessary.

  • Helps employees prepare for retirement
  • Offers tax-advantaged savings to employers and employees
  • Available at any of our branches
  • Federal deposit insurance up to FDIC limits for bank IRAs
  • Talk to your tax advisor to learn more about how IRA Accounts can benefit your business

Our History

Timeline

It started more than 90 years ago, with a commitment to the community. Since our humble beginnings in downtown Honolulu, American Savings Bank has grown into one of Hawai‘i's leading financial institutions with many branches throughout the state.

1925 — Thomas Anson Waddoups is appointed district manager of the first American Building & Loan Co office in Honolulu.

1942 — We change our name to American Savings & Loan Association, a name we keep for the next 45 years.

1955-58 — American Savings & Loan Association increases account holders to 21,640 with offices on O‘ahu and Hawai‘i Island.

1968 — American Savings & Loan Association branch and corporate offices open in the newly constructed Financial Plaza of the Pacific at 915 Fort Street. The building was built over the same spot that the main office had occupied for the previous 40 years.

1970's — The 70s was an era of neighbor island expansion as American Savings & Loan Association purchases Kaua‘i Savings (1971) and Maui Savings & Loan (1973) and acquires Pacific Savings & Loan Association of Hawai‘i (1977).

1987 — American Savings & Loan Association announces the formation of a separate subsidiary to conduct its Hawai‘i operations. This subsidiary, a Honolulu-based federally chartered savings bank, is called American Savings Bank.

1990 — American Savings Bank acquires First Nationwide Bank.

1997 — American Savings Bank acquires Bank of America's Hawai‘i Operations in 1997, transforming it into Hawai‘i's third-largest financial institution with a deposit base of $600,000,000.

2002 — American Savings Bank unveils a new corporate identity, kalo, or taro leaf. Kalo symbolizes growth, nourishment and strength.

2010 — President and Chief Executive Officer Richard Wacker joins the ASB ‘ohana.

2015 — ASB celebrates 90 years of serving island residents and businesses and unveils plans for the construction of a new corporate campus in Chinatown.

2019 — ASB unveils new campus - the first new office building in downtown Honolulu in nearly 25 years.

2021 — Ann Teranishi is appointed President and Chief Executive Officer.

Current Promotional Rate:

AS LOW AS

8.24% APR**

Good Until 5/31/21

Compare Loans & Lines of Credit

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Loan Calculator

What is a Personal Loan?

Personal Unsecured Loans give you quick access to the cash you need to make a major purchase, pay off debt, or cover an unexpected expense. Some people consolidate credit card debt with a Personal Unsecured Loan. We make it easy to apply for a loan with competitive rates. Just visit your nearest ASB branch to learn more. With no collateral required, it’s easy to apply for a Personal Unsecured Loan.

Features:

  • Fixed rates and fixed monthly payments
  • Loans from $2,500 to $50,000*
  • No annual fee
  • No collateral required
  • Free Online Banking with eStatements

 

Not sure if a Personal Line of Credit or Personal Unsecured Loan is right for you?
Click here to take a quick questionnaire >

Common Questions:

 

 

* Loan application required. Offer is for creditworthy applicants who qualify for an American Savings Bank (ASB) Personal Unsecured Loan (PUL).

 

** The Annual Percentage Rates (APR) are for new, approved PUL applications received 03/01/2021 to 05/31/2021 that fund by 06/30/2021. Depending on the information contained in your credit report, the discounted rate may be 8.24% APR to 18.24% APR and accordingly, monthly payment amount will differ. For example, if you are approved for a 48-month loan of $10,000 at 8.24% APR, you will have to make 48 monthly payments of principal and interest of approximately $245.26. This example is for demonstrative purposes only and is not necessarily the terms and APR that a qualified borrower will receive. Offer is subject to submission of a PUL application, credit history, income verification, and ASB’s underwriting policy. Contact ASB or refer to the current consumer loan rate sheet on asbhawaii.com. This offer is not for business purpose or real estate secured loans. Other terms, conditions and restrictions apply. Rates are subject to change at any time without prior notice.

Finance what you need.

Competitive Rates

Check out our low promotional rates for loans and lines of credit. Plus, receive a rate discount when you set up auto-pay from an American Savings Bank checking account.

Wide Range of Loan Options

With loans from $2,500 to $50,000 and lines of credit from $3,000 to $1 million, we'll help meet your borrowing needs.

Convenient Access

Online Banking makes managing your account easy - view your balance, set up automatic payments, deposit checks, and receive eStatements.

Money When You Need It

Personal Line of Credit

Services

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Maximum Rewards Visa Credit Card


maximum rewards visa card


Features:

  • EARN 1.5% BACK ON PURCHASES2: Redeem rewards for cash back, gift cards, travel or merchandise.
  • Use rewards for 5 years from when they are awarded before they expire.2
  • No Annual Fee.1
  • 0% introductory APR1 for the first 6 billing cycles after the account is opened on purchases and balance transfers. After that, a variable APR based on the Prime Rate between 18.24% and 28.24% APR depending on your creditworthiness.
  • EMV chip included for added security.

Services:

  • View and pay credit card bills online at www.firstbankcard.com/asbhawaii
  • View FICO® Score each month online - for FREE! - Knowing your FICO® Credit Score can help you maintain and better understand your financial health.
  • Apple Pay

 

Please see the Summary of Credit Terms for important information on rates, fees, costs, conditions and limitations. A balance transfer fee1 of 5% applies to each balance transfer you make (minimum $10). Minimum monthly payments required.

You must pay your entire statement balance (including all promotional purchase and balance transfer balances) by the due date each month to avoid being charged interest on new purchases from the date those purchases are made, unless your new purchases are subject to a 0% interest rate.

 

Common Questions:

  1. For additional information about Annual Percentage Rates (APRs), fees and other costs, see Summary of Credit Terms.
  2. See the Rewards Terms and Conditions in the Summary of Credit Terms for details, including earning, redemption, expiration, or forfeiture. Your % back rewards are earned as points.

Cards are issued by First Bankcard®, a division of First National Bank of Omaha, pursuant to a license from Visa U.S.A. Inc. Visa and Visa Signature are registered trademarks of Visa International Service Association and used under license.

FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries. Please note that new cardmembers will generally see their FICO® Bankcard Score 9 (the version of FICO® Credit Score we use to manage the account) within 45 days of account opening.

Apple, the Apple logo, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries.

Additional Features

  • 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.
  • Rollover of unused account funds, without penalty, to other family members under age 30
  • 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 18 years of age (unless the beneficiary is of special needs)

 

Services

 

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  1. Withdrawals are tax and penalty free if used for qualified education expenses. Funds must be fully withdrawn when the beneficiary reaches age 30, and any amounts not used for qualified education expenses are subject to an additional 10% tax penalty.
  2. Based on an IRS formula, the allowed contribution is reduced when AGI (adjusted gross income) exceeds these limits.
Beth Whitehead

Beth Whitehead

Executive Vice President &       
Chief Administrative Officer

As Executive Vice President and Chief Administrative Officer at American Savings Bank, Beth Whitehead oversees a wide range of ASB’s core functions, including all bank operations and administrative teams. Her leadership extends to Human Resources, Learning & Development, Communications, Community Advancement, Social Impact & Sustainability, Corporate Real Estate, Corporate Security, Facilities Management, Legal and Bank Secrecy Act compliance.

Beth also leads ASB’s Operations team, which plays a critical role in delivering exceptional customer experiences through convenient banking solutions and driving efficiency across the organization. Her leadership ensures that ASB remains at the forefront of operational excellence while meeting the evolving needs of customers.

Beth spearheaded the design and development of ASB’s Campus, a collaboration-focused workplace that brought together over 650 teammates from five separate Oahu locations. Opened in 2019, the Campus serves as ASB’s home base and reflects ASB’s commitment to fostering an excellent teammate experience.

Beth’s contributions have helped ASB gain national and local recognition for its exceptional workplace environment, including 15 years as a Hawaii Business Magazine Best Place to Work, earning top honors as the #1 large employer for Most Family-Friendly Company and LGBTQ+ Equality. ASB has been certified as a Great Place to Work® for 11 years, and Fortune Magazine has recognized ASB as one of the Best Workplaces for Women and Best Places for Diversity. Additionally, ASB has been featured eight times on American Banker Magazine’s list of America’s Best Banks to Work For and was honored by Newsweek as one of America’s Greatest Workplaces for Diversity and Mental Wellbeing.

Beth’s leadership and community contributions have been widely recognized. Her honors include Pacific Business News Women Who Mean Business (2013), Hawaii Business Magazine 20 For the Next 20 (2015), Girl Scouts of Hawaii Women of Distinction (2016), YWCA LeaderLuncheon Honoree (2019), and Pacific Business News Business of Pride (2020). She was also selected as an Omidyar Fellow (Cohort IV).

Beth is an active community leader, serving as board chair for Girl Scouts of Hawaii and as vice chair for Child & Family Service and Hawaii Theatre Center. She also serves on the Board of Advisors for the Center for Banking and Finance at the University of North Carolina School of Law.

Beth graduated with honors from both the University of Mississippi, where she earned her bachelor’s degree, and the University of Arkansas School of law, where she received her Juris Doctorate.

Natalie Taniguchi

Natalie Taniguchi

Executive Vice President &   
Enterprise Risk & Regulatory Relations

Natalie oversees the Enterprise Risk Management, Compliance, Sarbanes Oxley, Business Continuity and Information Security teams, as well as third-party relationship programs at American Savings Bank (ASB). Under her direction, the Enterprise Risk Management Program provides a framework to identify, manage, mitigate and report on key risks impacting ASB’s business. Natalie is the primary liaison with the bank’s regulators.

Natalie joined ASB in January 2002 as Vice President, Enterprise Management and was promoted to Senior Vice President in May 2007. Previously, she served as Financial Vice President and Treasurer for HEI Power Corp., a subsidiary of Hawaiian Electric Industries, Inc. (HEI) and as the Corporate Finance and Investments Director for HEI.

She is on the executive committee and a board member of Hawaii Society of Certified Public Accountants and a founder and board member of The Paani Challenge, the largest high school female wrestling competition in the nation. She is also a member of the American Institute of Certified Public Accountants and a 2019 Pacific Business News’ Women Who Mean Business honoree.

Natalie holds a Bachelor of Business Administration in Accounting from the University of Hawaii at Manoa.

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