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Ways to Work
Providing Loans to Families in Need
American Savings Bank has provided exclusive loan servicing and funding of the YWCA of Oahu’s Ways to Work family loan program since 2001. This innovative loan program provides loans, ranging from $500 to $4,000, to help qualifying families purchase a used car or make a deposit on rental housing. Borrowers repay the loan at a modest interest rate, allowing them to build their credit history, while receiving financial management and technical assistance training. Single mothers account for 80% of loan recipients, and over 50% of borrowers report household incomes of $30,000 or less. American Savings Bank employees volunteer on the loan review committee and assist the organization in an advisory capacity.
Benefits You’ll Receive
- Quick loan approval
- Low, fixed interest rate and payment amount
- Loan amounts from $500 to $4,000 upon approval
- Confidential service
- Transfer funds, check your balance, and get access to account information through AccountAbilitySM bank-by-phone service
Who Can Apply for a Loan?
To qualify for the Ways to Work Program, you must:
- Have enough disposable income to make monthly loan payments
- Be employed at least 19 hours per week for 6 months or be a post high school student with verifiable income
- Have a household income that is no more than 80% of median for the area
- Be a parent and an Oahu resident
How Does the Program Work?
If you’re interested, please call the YWCA of Oahu at (800) 808-538-7061 ext. 0 to see if you qualify to participate in the Ways to Work Program. Loan decisions are made by a committee of volunteers from banking, business, social service, and public administration professions. After approved customers attend money management training, all loans are funded, closed, and serviced by American Savings Bank.
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