ASB and Federal Home Loan Bank of Des Moines Award $850,000 to Six Hawaii Nonprofits

American Savings Bank (ASB) and the Federal Home Loan Bank of Des Moines (FHLB Des Moines) are pleased to award $850,000 to six local nonprofits through the FHLB Member Impact Fund. ASB’s ongoing commitment to improve affordable housing, financial literacy and the revitalization of Aala Park and neighboring communities was amplified by FHLB’s $3 to $1 matching program. Hawaii Community Lending will receive the largest grant of $400,000 to aid Lahaina homeowners impacted by last year’s wildfires.

“American Savings Bank is excited to join forces with the Federal Home Loan Bank of Des Moines once again to support local organizations providing vital resources and services across the state,” said Ann Teranishi, president and CEO at ASB. “FHLB Des Moines’ $3 to $1 matching program allows us to multiply our impact as we work together to create a better future for all residents.”

Awards & Initiatives Supported

• Catholic Charities Housing Development Corp.
  • $100,000
  • Initiative and Programs Supported: Affordable Housing Pre-Development Loan Fund
• Hawaii Community Lending
  • $400,000
  • Lahaina Homeowner Recovery Program
• Hawaii HomeOwnership Center
  • $100,000
  • Capacity building and operational support
• Oahu Economic Development Board
  • $60,000
  • Capacity building and operational support
• Salvation Army
  • $40,000
  • Community Assistance Center Life Skills Program
• The Trust for Public Land
  • $150,000
  • Revitalization of Aala Park and the surrounding community

FHLB’s Member Impact Fund, which was created in 2023, was established to provide critical support and funding to four states and three U.S. Pacific territories – Hawaii, Montana, North Dakota, Oregon, Guam, American Samoa and Northern Mariana Islands. Building on last year’s $1.8 million award, ASB and FHLB Des Moines have infused a total of $2.65 million into Hawaii communities.

“We are thrilled to partner with our members and local organizations to empower them to make their communities vibrant places to live and work,” said Kris Williams, president and CEO of FHLB Des Moines. “An important part of our mission is to enable our members to meet the housing, business and economic development needs of the communities they serve. The Member Impact Fund is another way we fulfill that.” 

As Lahaina homeowners continue their path to recovery, the $400,000 grant from ASB and FHLB Des Moines to Hawaii Community Lending serves as a lifeline offering vital resources, assistance and renewed hope.

“We send our deepest mahalo to ASB and FHLB Des Moines for their support,” said Jeff Gilbreath, executive director of Hawaii Community Lending. “The funds will match other banks and funders to assist 500 owner-occupant Lahaina homeowners impacted by the fire with the goal of preventing displacement of our local people and getting them the funds needed to rebuild.”

In addition to this grant, ASB recently released its 2023 Impact Report, highlighting other charitable contributions and long-term investments in initiatives that support a thriving Hawaii.