American Savings Bank Announces 2021 Community Impact Contributions
American Savings Bank announced its charitable contributions for the 2021 calendar year totaled more than $1.5 million. The funds were donated to the community, benefiting nearly 80 local nonprofit organizations, according to a company announcement.
In addition to monetary support, ASB teammates contributed hands-on impact through more than 13,000 Seeds of Service volunteer hours with nearly 160 nonprofit organizations.
“Last year was challenging for many residents and organizations across the state and we knew we needed to step up our efforts to support our customers and community when they needed us most,” said Ann Teranishi, ASB president and CEO. “I am proud of our teammates for their continued generosity and we look forward to bringing real impact to our community in 2022 and beyond.”
ASB’s 2021 Community Impact Highlights
Paycheck Protection Program Loans
Throughout the pandemic, ASB secured $548 million in PPP loans for more than 6,300 Hawaiʻi companies, which ASB said helped to preserve an estimated 65,000 local jobs. ASB worked with thousands of customers experiencing financial hardship on loan deferment and forbearance programs.
Kahiau Giving Campaign
In 2021, teammates surpassed previous records set by contributing more than $210,000 to ASB’s signature bank-wide Kahiau Giving Campaign with a 95% participation rate. With the $150,000 match from ASB, more than $360,000 was donated to nine nonprofit organizations, including Aloha United Way, Child & Family Service, Kapiolani Health Foundation, Kupu and Partners in Development Foundation.
Girl Scouts of Hawai;i STEM Center
ASB is invested in the growth and development of Hawaiʻi’s students and future workforce. ASB donated $100,000 in support of Girl Scouts of Hawaiʻi’s STEM Center for Excellence at Camp Paumalu. The new facility will provide year-round opportunities for young women in astronomy, cybersecurity, computer coding and robotics, along with other STEM-based skills.
University of Hawaiʻi Foundation’s Live-Learn-Work Community
ASB and HEI pledged $250,000 each to the University of Hawaiʻi Foundation’s live-learn-work community at Residences for Innovative Student Entrepreneurs, as part of an ongoing commitment to support higher education, develop the state’s future leaders and entrepreneurs, and diversify our economy.
COVID Vaccination Efforts
When COVID numbers peaked due to the Delta variant, ASB did its part to curb the spread of cases in the community by encouraging residents to get vaccinated and rewarding three lucky winners with a $5,000 cash prize as part of the State of Hawaiʻi’s HIGotVaccinated program. ASB also hosted two free vaccination clinics at the neighboring Aʻala Park, to provide free and easy access to vaccinations to the Kalihi-Chinatown neighborhoods.
Hawaiʻi Restaurant Card Business Holiday Card
ASB relaunched the Hawaiʻi Restaurant Card Business Holiday Card program in a statewide effort to support the local restaurant and food supply chain industries at a time when they need it most. More than $750,000 was injected into the industries with the help of 203 local establishments that purchased cards as holiday gifts for their clients and employees.
Bank for Education KeikiCo Contest
More than 750 students representing grades 3 to 12 participated in this year’s KeikiCo contest. The contest, which started in 2015 as a biennial competition, now runs annually due to popular demand. This year’s KeikiCo contest received more than 125 entries from 17 schools across the state. Students formed teams of two to five students to showcase their best business plan ideas before a panel of esteemed judges for a chance to win up to $25,000. A total of $145,000 was awarded to eight local winning schools.