Bank of Hawai’i has been rewarded with a $444,239 grant from the U.S. Department of Treasury for its community involvement. The funds were awarded because the bank invested $4.2 million this year into seven organizations that serve low-income people, according
Bank of Hawai’i has been rewarded with a $444,239 grant from the U.S.
Department of Treasury for its community involvement.
The funds were
awarded because the bank invested $4.2 million this year into seven
organizations that serve low-income people, according to Kelly Walsh, a
community reinvestment officer with the bank.
Of the $4.2 million, Rural
Community Assistance Corp., which specializes in self-help housing and waste
water programs, received $3 million. Maui Economic Opportunity also received $1
million. The balance went to five other organizations, including the MEO
Business Development Center, Lokahi Pacific, Kau Federal Credit Union and the
Hawai’i Community Loan Fund, which made many loans to help low-income people on
Kaua’i start businesses, Walsh said.
Walsh said it is unusual for the
federal government to make a cash award to a private institution such as a
bank. But this isn’t the first time for Bank of Hawai’i. In 1998, the bank
received a $339,000 grant, Walsh said.
The latest grant money will be
plunked back into programs to help the community, Walsh said. These include a
consumer credit training video to teach high school students about finances.
The video will be circulated among public schools statewide, Walsh
said.
The grant also will be used for a homebuyer education program
implemented through the community college system, including Kaua’i Community
College.
Staff writer Lester Chang can be reached at 245-3681 (ext.
225) and lchang@pulitzer.net
