Bank of Hawaii Providing Financial Assistance Programs For Those Impacted by Typhoon Mawar

Bank of Hawaii has initiated financial assistance programs to help Guam residents affected by Super Typhoon Mawar.

“While the people of Guam are resilient, we know the road to recovery after Typhoon Mawar will be long. Our hope is that impacted residents can find some relief through these programs that allow for immediate financial assistance with flexibility,” said Peter Ho, chairman, CEO and president of Bank of Hawaii.

The programs provide access to cash via an emergency loan, relief on an existing Bank of Hawaii loan through extensions or forbearances, and fee waivers for ATM transactions.

I. Emergency Relief Loan Program:

• • Fixed interest rate
  • Fast approval and quick funding, with loans up to $7,500
  • Predictable monthly payments over a 36-month term
  • Loan fee waived
  • Loan amounts may be used to provide temporary cash relief for emergency supplies and living essentials.

II. Forbearance Program:

• • Provides loan forbearance for up to 6 months for residential mortgages, home equity loans and home equity lines.
  • Forbearance amount can include a partial loan payment up to full payment based on the amount the borrower can afford to pay.
  • The total amount of payments deferred will be due on the first due date following the end of the forbearance term, or according to terms of the repayment plan.
  • Loans must be less than 30 days past due prior to Typhoon Mawar.

III. Extension Program:

• • Provides a loan extension for up to 3 months for products, including: direct installment (personal loans) and indirect loans (auto).
  • Principal and interest payments will be deferred for the term of the extension.
  • Full payments are due on the first due date following the end of the term of the extension.
  • Loans must be less than 30 days past due prior to Typhoon Mawar.

IV. ATM Fees Waived:

• • To assist in recovery efforts while other financial institutions work to restore their ATMs, Bank of Hawaii has temporarily suspended its surcharge fees for all Guam ATM users from Thursday, June 1 through Sunday, June 4 ChST.

For additional information on the financial relief programs, call the Bank of Hawaii Guam Call Center toll free at 1-877-553-2424. Details are also available at http://www.boh.com/mawar or by visiting a Bank of Hawaii branch on Guam. For payment relief on an existing Bank of Hawaii loan or line, call (671) 479-3700 or toll free 1-877-280-6477.