Independent Banker - January 2024 - 63

Next: Vetted investment resources 
customers. " Following the fires, our
teams quickly initiated a mortgage
forbearance program for affected
customers, " says Teranishi. " In
alignment with our commitment to
support the community, especially in
times of need, we collaborated with
Hawai'i Community Lending and
other financial institutions statewide
in a pledge to provide mortgage
forbearances to eligible borrowers and
encouraged other institutions to do
the same. "
CDFI support
In 2002, Hawai'i Community
Lending (HCL)-a nonprofit
community development financial
institution (CDFI) certified by the
U.S. Department of the Treasury-
started as a mortgage broker under
Hawaiian Community Assets. HCL
was founded as a subsidiary nonprofit
in 2014. According to its website, it
" funds Hawaii's affordable housing
ecosystem, from home buyers to
home builders to homeowners. Its
mission is to build the capacity of lowand
moderate-income communities
to achieve and sustain economic selfsufficiency,
with a particular focus on
Native Hawaiians. "
Teranishi says the forbearance
initiative has demonstrated the
pivotal role that community banks
can play in providing relief and
support to communities, especially
during the most challenging
circumstances.
" American Savings Bank and
Hawai'i Community Lending have a
strong relationship, " says Teranishi.
" We collaborated on various housing
initiatives, including a $4.3 million
investment in Native Hawaiian
homeownership opportunities on
Hawaiian homelands. With all the
hardships that our Maui community
has faced, we are glad to collaborate
with Hawai'i Community Lending to
" Customers continue
to express their
gratitude for ASB's
proactive approach
in reaching out and
offering personalized
assistance during this
challenging time. "
-ANN TERANISHI,
AMERICAN SAVINGS BANK
affected by the Maui fires. American
Savings Bank uses its website and
social media to provide updates on
relief efforts and resources, but its
efforts can be best seen in person and
at its local branches.
Teranishi notes, " Our teams
continue to work around the clock
to grant mortgage forbearances
and share resources through
community fairs and events, along
with personally calling customers to
ensure that they receive the support
they need. "
offer this vital assistance. "
As of Oct. 13, 2023, ASB has
offered forbearances to more than
200 mortgage loan customers. Out of
those customers, 84 have accepted,
and 66 consumer loan customers have
also received forbearances.
Working alongside the
community
The community bank has taken steps
beyond forbearances. According to
Teranishi, " community " is at the core
of everything ASB does. For example,
immediately after the fires, ASB
quickly provided critical resources
to the Maui community by donating
$100,000 to three nonprofits offering
on-the-ground support.
" We also worked with the Hawaii
Bankers Association to collect
donations at all ASB branches for the
Maui Strong Fund and supported
the Luna Strong campaign, which
provides funds to replace sports
equipment for Lahaina High School, "
she says.
Activities are still taking place to
provide support and relief for those
independentbanker.org // 63
Response from the bank's
customers and the community to
the forbearance initiative has been
positive, according to Teranishi.
" Customers continue to express
their gratitude for ASB's proactive
approach in reaching out and offering
personalized assistance during this
challenging time, " she says. " In
addition, since every situation is
different, we continue to encourage
impacted customers to call our
bankers for assistance. "
In sum, according to Teranishi,
management at the bank is thankful
for its more than 1,000 teammates
across the state for continuing to
go above and beyond to care for the
bank's customers, the community as a
whole and for each other. 
William Atkinson is a writer in Illinois.
More about ASB
American Savings
Bank was ICBA's 2022
Exceptional Community
Bank Service Award
winner. Read more about
its community involvement
at independentbanker.org
http://www.independentbanker.org http://www.independentbanker.org
Independent Banker - January 2024

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