Hawaii banks that normally compete for customers have come together during the pandemic to share best practices and employ industrywide initiatives such as financial hardship loan modifications, increased cleaning measures, the waiving of ATM fees and a kupuna hour at virtually all branch locations.

The banks also are supporting a wide range of local nonprofit and community COVID-19 response initiatives that include donating food, supplies and medical equipment.

“Throughout this pandemic, I’ve been inspired by how our local banks have come together to serve the people of Hawaii,” said Rich Wacker, CEO of American Savings Bank and president of the Hawaii Bankers Association.

“One of our biggest joint initiatives has been the PPP (Paycheck Protection Program),” he said. “Our banks really came together for Hawaii for this program, ultimately securing more than $2.62 billion in PPP funding for 20,637 local companies, supporting payrolls for an estimated 170,000 jobs statewide through the PPP.

“By any measure, this funding represents several hundred million dollars above our fair share of the total program. This is a commendable amount in federal aid for Hawaii, especially given the massive volume of applications the SBA received from across the nation.”

The seven Small Business Administration-approved lenders in Hawaii are American Savings Bank, Bank of Hawaii, Central Pacific Bank, First Hawaiian Bank, Hawaii National Bank, Ohana Pacific Bank and Territorial Savings Bank. The other members of the Hawaii Bankers Association are Finance Factors, Seattle-based HomeStreet Bank and San Francisco-based Bank of the Orient.

Mayor Kirk Caldwell announced a City and County of Honolulu program in May — later expanded in June — for Oahu business in which those with 50 or fewer employees and less than $2 million in gross annual revenue would be eligible for grants of up to $10,000.

Four Hawaii credit unions were selected to process loan applications for the city. They are Hawaii State Federal Credit Union, Honolulu Federal Credit Union, Aloha Pacific Federal Credit Union and HawaiiUSA Federal Credit Union. Information is available at oneoahu.org.

Bank of Hawaii Chairman, President and CEO Peter Ho said those individuals and businesses most vulnerable before a crisis typically get hit the hardest during a crisis.

“The COVID-19 pandemic has dramatically changed every aspect of how we live, work and interact,” Ho said. “Addressing its impacts will be an ongoing, collaborative effort. For our part, Bank of Hawaii continues to support as many sectors within our state as possible — from our employees, customers and nonprofit organizations to small businesses, commercial clients and the community at large.”

All the banks have been tailoring individual payment plans to fit their customers’ needs.

“We work with our customers personally to identify their needs and provide an appropriate solution for them,” First Hawaiian Chairman, President and CEO Bob Harrison said. “There are a number of ways in which we can help, so we like to encourage everyone to talk to their banker.”