Hawaii financial institutions are offering a variety of assistance to customers who have been affected by COVID-19. They have implemented kupuna hours for the first hour of business and taken extra steps to clean and disinfect high-touch areas and enforce social distancing in the branches. They also have distributed millions in loans to small businesses and conducted numerous outreach programs to benefit communities. The institutions, which supplied the following information, also urge customers to take advantage of online and mobile banking.
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FIRST HAWAIIAN BANK
Website: fhb.com/covid19
Phone: 844-4444 or toll-free 888-844-4444
Email: Through website
Personal banking customers
>> Mobile deposit: Up to $10,000 now can be deposited in one day from the FHB Mobile app.
>> CDs: Penalties waived for early CD withdrawals up to $25,000. Waiver does not apply if a withdrawal occurs within six days from account opening or a prior withdrawal.
>> Personal and mortgage loan assistance: First Hawaiian has been working with its customers on an individual basis to find the right solution for them to support their needs.
Personal credit, mortgage loan assistance
>> Works with customers individually to determine how their needs can be supported
Small-business customers
These fee waivers are offered through Sept. 30 for new and existing customers:
>> Merchant services: Waiving the $25/minimum monthly fee
>> eDeposit (Remote Deposit Capture): Waiving setup fee and all processing fees (includes maintenance and item fees)
>> FHB online business center ACH (Automated Clearing House) modules: Waiving setup, monthly maintenance and all ACH fees (not including return fees) and reports sent to customers concerning ACH transactions
>> Wholesale lockbox: Waiving setup fee and monthly maintenance fee
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HAWAII STATE FEDERAL CREDIT UNION
Website: www.HawaiiStateFCU.com/assistance
Phone: 587-2700 or toll-free 888-586-1056
Email: memberservices@hsfcu.com
Emergency assistance program
>> Emergency assistance loan: Get access to money with a low-rate personal loan for qualifying members. It features a 0% interest rate and no payments for three months, with a subsequent interest rate of 8% for the remaining three years. The blended APR over the entire 39-month term of the loan is 6.845%. No prepayment penalty. A loan of $1,000 will have 36 payments of $31.34 per month, and total interest paid of $128.11. This emergency assistance loan is available to affected Hawaii residents who have been members as of Dec. 31. Members must meet minimum qualifications established for this special program. The loan amount is determined by the amount of income that has been adversely affected, with a minimum loan amount of $500 and a maximum loan amount of $5,000, as calculated by Hawaii State FCU. This program and rates are subject to change at any time without prior notice.
>> Loan payment deferrals and mortgage forbearance: Get relief from making scheduled monthly payments for qualified members. Hawaii State FCU consumer loan payments may be deferred for one to three months. A forbearance program for mortgage payments is also available.
>> Penalty-free term share withdrawals: Make withdrawals from your term share without an early-withdrawal penalty. Withdrawals will reduce earnings on the account. Penalty-free withdrawals do not apply to IRA Term Shares. Minimum withdrawal is $500. If your account falls below the $1,000 minimum balance requirement, the account must be closed.
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TERRITORIAL SAVINGS BANK
Website: tsbhawaii.bank/a-message-regarding-covid-19
Phone: 946-1400; toll-free: 800-951-8418
Email: Through website
Customer assistance
>> The bank specializes in residential mortgage loans and banking for individuals and very small businesses. It has made contact with all of its residential mortgage customers who requested mortgage relief and has sent them a description of the bank’s temporary loan payment relief program.
>> Branch managers, loan officers and mortgage loan servicing department are reaching out to customers personally to explain the bank’s loan relief program and answer any questions they might have.
>> Territorial’s loan payment relief program allows customers to state in writing or via email that they have been financially affected by COVID-19. They will not need to make principal and interest payments for six months. If they are not able to resume making payments after six months, the bank will consider an option for them to apply for the bank’s formal financial hardship program.
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HAWAII NATIONAL BANK
Website: hawaiinational.bank/covid-19
Phone: 528-7711
Email: info@hnbhawaii.com
Customer assistance
>> The bank is encouraging customers to contact their branch or relationship officer to discuss the ways it can help. The branches offer personalized services and are working with customers on an individual basis.
>> Works closely with customers to understand their needs over the long term and to establish a thorough understanding of what options may be appropriate
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BANK OF HAWAII
Website: boh.com/covid-19-main-page
Phone: Loan forbearance: 694-7297 or toll free 877-926-7297; loan extension: 694-1500 or toll free 800-888-9275
Email: boh.com/customer-service
Customer, community assistance programs
>> Loan forbearance: No payments due for up to six months. Placing a mortgage in forbearance allows borrowers extra time to assess their financial situation and focus on other expenses and their household during this time of uncertainty. Participation in loan forbearance and extension programs will not trigger any negative credit bureau reporting, and no late charges will be assessed during the period of deferred payment. Borrowers needed to be current on their payments prior to COVID-19.
>> Loan extension: Extending a loan payment means that the bank takes currently due payments and shifts them to the end of the loan term, allowing borrowers flexibility with their expenses during this time of uncertainty. Bank of Hawaii can provide a loan extension for up to six months for products including personal loans and auto loans.
>> Encourages customers who are experiencing financial hardship and finding it difficult to make loan payments to call so the bank can help work out a plan that best meets their individual needs. In addition to the six-month payment deferral programs provided for short-term relief, the bank offers standard long-term programs if the hardship is long-term or permanent — modifications in which the maturity of the loan is extended and the balance re-amortized to lower the monthly payment.
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AMERICAN SAVINGS BANK
Website: asbhawaii.com/covid-19; financial hardship: asbhawaii.com/hardship
Phone: General number: 627-6900 or toll-free 800-272-2566
Personal unsecured loans or lines: 846-4645
Residential mortgages, home equity lines of credit: 846-4626
Email: info@asbhawaii.com
Customer support operations
>> Customer communications: Conducting weekly customer communications via email and social media to keep customers informed of branch operations, services, digital banking platform, cybersecurity tips and more
>> Make an appointment: The bank’s virtual Make an Appointment tool allows customers to meet with a banker from home, without having to come into the branch. This tool is available on the ASB website.
Financial hardship
>> Encouraging customers who are facing financial hardship to contact the bank to see what help can be offered. Some of the ways the bank is accommodating customers include loan forbearance, deferment or extension. This applies to business customers as well.
>> Helping the community through this crisis by offering financial hardship programs for customers and supporting a number of worthy community initiatives
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CENTRAL PACIFIC BANK
Website: cpb.bank/covid-19
Phone: 544-0500
Email: COVID19@cpb.bank
Banking programs
>> Improvements to quickly and conveniently access funds
>> Debit card: Permanently raised spending cap limits so customers can use their debit card to access more of their funds
>> Mobile deposit: Permanently increased mobile deposit limits to $10,000 daily and $30,000 monthly
>> Employment disruption loan
>> Consumer loan deferral
>> Residential mortgage payment deferral
>> Free educational webinars to address COVID-19-related issues and opportunities
>> Email newsletter dedicated to COVID-19 updates
>> CPB Foundation is partnering with nonprofits helping to provide immediate relief and is also providing investment and leadership for longer-term programs to help Hawaii emerge and thrive beyond the pandemic.
>> Offers several options to help customers who are concerned about loans and unemployment and works with them to best support their unique situations
