Sponsored by American Savings Bank
American Savings Bank has been serving Hawaii for more than 90 years, and it’s now moving to new headquarters on Beretania Street. The new facility is part of the institution’s plan to creating a culture of financial health for both the bank and its customers. HI Now host Kanoe Gibson sat down with President and CEO Rich Wacker to talk about the bank’s future and its plans to help customers.
American Savings Bank is committed to its island community. People have a lot of dreams, some big and some small, but all important. Whether it is buying a first home, paying for a child’s education or just paying off credit card debt, American Savings Bank wants to help.
American Savings Bank is growing in many ways. While the bank helps its customers and teammates grow, it’s also physically expanding with its new building on Beretania Street. This new building helps bring together teammates from different areas to collaborate and ultimately better meet customer needs.
Wacker says life in Hawaii can be tough. 85 percent of people living worry about their finances. In Hawaii, it could take over 20 years to save for a down payment on a house. The average credit card debt in Hawaii is $8,315. These are tough stats, but American Savings Bank believes in being real. By being real, the bank believes it can help tackle these and other questions customers have, like paying for education or planning for retirement. This looks very different for every customer, but Wacker says it all starts with a conversation with a banker.
With April being Financial Literacy month, it’s a great time for customers to evaluate where they are and where they want to be. Wacker says it’s important for people to get a benchmark of where they were in terms of their financial health. Customers can do that online or in person at a branch where one of the bank’s teammates can help.