MEDIA RELEASE

More than $250,000 in monetary awards available for Hawaii schools

HONOLULU – American Savings Bank (ASB) today kicked off its Bank for Education program, which helps the community raise funds for Hawaii’s schools with every new qualified personal checking account that is opened. Through this campaign, which begins today and runs through December 15, 2011, ASB is committed to awarding more than $250,000 to local schools to use however they see fit.

“American Savings Bank is proud to continue our Bank for Education program,” said Rich Wacker, American Savings Bank President & Chief Executive Officer. “We’ve committed $250,000 in awards that our communities can win for their schools to support our teachers and administrators as they help our keiki achieve their potential.”

Beginning today, ASB will contribute up to $30* to the customer’s Hawaii school of choice for opening a new qualified personal checking account during the campaign period. The top school in each of the three student enrollment categories (1-300 students, 301-550 students, 551 or more students) with the most designations at the end of the promotion will receive $50,000, in addition to their designations. ASB will also award $10,000 to the school with the most designations from each of the four Hawaii counties (Hawaii, Honolulu, Kauai and Maui).

Schools determine how best to use the funds they receive through the program, including for the purchase of computers, teaching supplies, books, musical instruments, and athletic equipment, and for funding field trips. Previous Bank for Education grand prize winner, Waianae High School, used its $100,000 award to upgrade their technology system.

ASB created the Bank for Education program in January 2010 to help the community raise funds for Hawaii’s schools. The inaugural campaign ran from January 2 through February 28, 2010 and resulted in $151,700 in awards to 274 Hawaii schools. The second campaign in the fall of that year raised more than $220,000. This year, with the help of the community, ASB is looking to award more than $250,000 to public and private K-12 schools across the state and make this the most successful Bank for Education campaign yet.

For more information about ASB’s Bank for Education program and to view complete campaign results, visit our website at www.asbhawaii.com

Editor’s note: Last year Waiakea High School was awarded $10,000.