Individual Development Accounts

Providing Incentives to Save

American Savings Bank provides Individual Development Accounts (IDAs) to customers of the Asset Building Initiative of Hawaii (which includes Alu Like, City and County of Honolulu, Hawaii Homeownership Center and Parents and Children Together), Family Independence Initiative, Mala ‘Ai Opio organic farm, and the Pacific Gateway Center. IDAs are matched savings accounts that enable low- and moderate-income individuals to save, become financially literate, build assets, and enter the financial mainstream. ASB has serviced over 150 accounts since the program’s inception in 2004.