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Community Reinvestment Act

Committed to Helping Our Communities Grow

American Savings Bank supports all aspects of the Community Reinvestment Act (CRA) of 1977. As amended, this Act encourages each insured depository institution covered by the Act to help meet the credit needs of the low- to moderate-income communities in which it operates. CRA requires that each federal financial supervisory agency assess the record of each covered depository institution in helping meet the credit needs of the entire community, including low- and moderate-income neighborhoods, consistent with safe and sound operations.

About the Community Reinvestment Act

The Community Reinvestment Act (CRA) was enacted as Title VII of the Housing and Community Development Act of 1977 (Public Law 95-128). CRA was implemented by Regulation BB of the Federal Reserve Board and became effective November 6, 1978. The Act is intended to encourage banks and other financial institutions to help meet the credit needs of their local communities, including low- and moderate-income neighborhoods.

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 more information about our Community Development Program, please contact us.

CRA Evaluation

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

Our CRA Policy Statement

American Savings Bank (ASB) has been meeting the deposit and credit needs of the state of Hawaii since 1925. Our objective is to provide complete lending services to customers; including individuals, firms, and corporations. We lend and pay interest on deposits on an economically sound basis, which is in the best interest of all concerned: ASB, its customers, stockholders, and the general public. ASB makes meeting the banking needs of the entire community it serves both policy and practice. ASB personnel actively seek, develop, and make productive loans. They make such loans as opportunities afford, the resources of ASB permit, and banking laws and regulations allow. Credit is available in accordance with our nondiscriminatory standards. No individual will be denied the services of ASB due to discrimination. As long as an applicant has the capacity to enter into a binding contract, we will not discriminate because of age. We welcome applicants for credit. No employee of ASB will, in any manner, discourage a prospective applicant from submitting an application for credit. ASB will accept and consider an application from any person, firm, or corporation wishing to submit a written request for credit. ASB will continue to offer credit programs that are beneficial to society, nondiscriminatory, and economically sound. The bank will pursue opportunities to contribute to the growth and vitality of the community it serves.

Our Community Development Services & Programs

Establishing a good credit history is important. However, obtaining credit is not always an easy task for many families and businesses. As one of Hawaii's leading financial services companies, ASB is committed to meeting the credit needs of its local communities by providing a wide range of credit services while participating in a growing number of special programs designed to help individuals pursue their dreams of home ownership, higher education and meaningful careers.

The following credit services are available at, or through, ASB branch locations throughout Hawaii.


Residential Real Estate Loans


Conventional First Mortgage Loans

  • Up to 95% of the fair market value of the property or selling price for owner-occupant loans
  • Up to 85% of the fair market value of the property or selling price for investor loans
  • Rural Housing loans
  • Low-cost Veterans Administration (VA) loans
  • Conventional first mortgage loans on vacant improved lots

Construction Loans

  • Owner-occupant construction loans
  • Construction loans to lessees of the State of Hawaii Department of Hawaiian Home Lands

Commercial Real Estate Loans

  • Construction loans on commercial-oriented, multi-family or subdivision properties
  • Income property real estate loans for the purchase or refinance of existing commercial property

Consumer Loans


Home equity lines of credit

  • Owner-occupant: Up to 80% of the available equity based on the fair market value of the property
  • Investor: Up to 70% of the available equity based on the fair market value of the property (single family dwelling)

Other Consumer Loan Products

  • Unsecured personal loans
  • Unsecured lines of credit
  • Preferred CreditLine (overdraft protection)
  • New and used automobile loans
  • Savings secured loans
  • Visa® credit cards
  • Education loans (Federal Stafford and PLUS Loans)

Corporate Banking Loans (Business Loans) and Services

  • Business lines of credit
  • Business term loans
  • SBA guaranteed loans (Small Business Administration loans)
  • USDA guaranteed loans (Rural Development loans)
  • Business Visa® credit cards
  • Practice "start-up" loans for healthcare professionals

Information to Consider
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 Office of the Comptroller of the Currency (OCC), and a list of services provided at each branch. You may also have access to the following additional information, which we will make available to you at a branch within five calendar days after you make a request to us: (1) A map showing the assessment area containing the branch, which is the area in which the OCC 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) data on our lending performance in this assessment area; 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 that plan.

At least 30 days before the beginning of each quarter, the OCC publishes a nationwide list of the savings associations that are scheduled for CRA examination in that quarter. This list is available from the Deputy Comptroller, OCC, 1225 17th, Suite 300, Denver CO 80202. You may send written comments about our performance in helping to meet community credit needs to the Director of Community Development, American Savings Bank, P.O. Box 2300, Honolulu, HI 96804-2300 and Deputy Comptroller, OCC, 1225 17th, Suite 300, Denver CO 80202. Your letter, together with any response by us, will be considered by the OCC 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 OCC. We are an affiliate of Hawaiian Electric Industries, Inc. and American Savings Holdings, Inc., two bank holding companies. You may request from the Deputy Comptroller an announcement of applications covered by the CRA filed by bank holding companies.