Bank of Hawaii : Providing Financial Assistance Programs for Federal Employees/Contractors Affected by Government Shutdown

Friday, January 04, 2019

HONOLULU, HAWAII -

Bank of Hawaii is offering financial assistance programs to help individuals who are Federal employees or contract employees to the Federal Government, due to the partial government shutdown that began on Dec. 22, 2018.

Bank of Hawaii is offering three financial assistance programs:

• Personal loan program. Up to $5,000 loan amount at a fixed 3 percent interest rate for affected workers to help meet immediate financial needs. Terms will be for 27 months with no payments due during the first three months.
• Loan forbearance program. Affected workers may defer loan payments for up to three months for residential mortgages, home equity loans and home equity lines in amortization.
• Loan extension program. Affected workers may extend other direct installment or indirect loans, such as personal loans or auto loans, for up to three months.

'We hope to help our Federal workers and contractors get through an uncertain time without the worry of how they are going to pay for basic living essentials or any negative impact to their existing loans,' said Peter Ho, Bank of Hawaii chairman, president and CEO. 'Bank of Hawaii's loan officers are here to help and ready to work with people to assess their needs.'

Essentially, the three programs provide access to cash via special loan programs or getting relief on existing Bank of Hawaii loans through fast approval and quick funding. Additionally, all loan and late fees will be waived.

Information and specific details on each of the programs are available by calling Bank of Hawaii's Customer Service Center on Oahu at: 1-888-643-3888. Applications are being accepted at any Bank of Hawaii branch.