American Savings Bank and the Federal Home Loan Bank of Des Moines recently awarded $850,000 in grant funding to support six local nonprofits working to address housing and financial literacy, among other areas, it was announced April 3.
“Collaborating with community-based organizations not only increases access to crucial services and resources, but it also strengthens our society as a whole,” Ann Teranishi, ASB president and CEO, said in an email to Pacific Business News. “The nonprofits that we work with have skills and expertise that are trusted by the community. Paired with our strong capital resources, financial products, connections and volunteers, we work together to prioritize the well-being of residents and businesses, making us stronger and better together.”
For this initiative, ASB has so far committed $712,000 back into the local community – $212,000 in 2024, and $500,000 last year – a spokesperson with the company told PBN.
The bank has focused its corporate giving toward promoting financial wellness for individuals and businesses, increasing affordable housing availability and accessibility, and supporting Aala Park and neighboring communities, Teranishi said.
In partnership with ASB, FHLB Des Moines’ Member Impact Fund has dispersed a total of $2.65 million to Hawai‘i organizations since 2023, according to the announcement. The fund “was established to provide critical support and funding to … Hawai‘i, Montana, North Dakota, Oregon, Guam, American Samoa and Northern Mariana Islands,” the announcement noted.
“We are thrilled to partner with our members and local organizations to empower them to make their communities vibrant places to live and work,” said Kris Williams, president and CEO of FHLB Des Moines, in a statement. “An important part of our mission is to enable our members to meet the housing, business and economic development needs of the communities they serve. The Member Impact Fund is another way we fulfill that.”
Hawai‘i Community Lending received the largest gift of $400,000 to assist Lahaina homeowners affected by the Maui wildfires last August.
“We send our deepest mahalo to ASB and FHLB Des Moines for their support,” said Jeff Gilbreath, executive director of Hawaii Community Lending, in a statement. “The funds will match other banks and funders to assist 500 owner-occupant Lahaina homeowners impacted by the fire with the goal of preventing displacement of our local people and getting them the funds needed to rebuild.”
Other awards included:
$150,000 to Trust for Public Land’s revitalization of Aala Park
$100,000 to Catholic Charities Housing Development Corp.’s affordable housing pre- development loan fund
$100,000 to Hawai‘i HomeOwnership Center for capacity building and operational support
$60,000 to Oahu Economic Development Board for capacity building and operational support
$40,000 to The Salvation Army’s Community Assistance Center’s life skills program.
Earlier this month, Trust for Public Land gathered more than 75 volunteers from nine Hawai‘i companies, including ASB, for its annual “A Day on the Land,” a community impact event focused on stewarding Aala Park in Downtown Honolulu. On April 8, volunteers worked to improve the park by removing trash, cleaning graffiti, planting native trees and retouching murals.
“When I talk to people from other organizations and industries – from both private and public sectors – many of us have a common goal: to create a stronger, healthier Hawaii for future generations,” Teranishi told PBN. “Over the past several years, there has been great collaboration among organizations, like ASB’s partnership with the Federal Home Loan Bank of Des Moines, with similar community-based values. If we continue leveraging our collective strengths, sharing ideas and resources and leaning on one another for support and expertise, we will be able to multiply our contributions and maximize our impact.
“As we look forward to our centennial in 2025, we will continue identifying new opportunities, such as collaborating with partners like the Federal Home Loan Bank of Des Moines, to maximize our community impact,” Teranishi said.
See ASB’s 2023 Impact Report HERE
To see full article at Pacific Business News, visit here.
photo: American Savings Bank – Earlier this month, Trust for Public Land gathered for its annual “A Day on the Land,” a community impact event focused on connecting volunteers to steward Aala Park in Downtown Honolulu.