I am so excited to be serving you as President and speaking with you in my second On The Move publication. It is truly an honor.
It is great to see our local economy beginning to reopen and recover. Finance Factors remains in a strong and healthy position. With that said, I do want to acknowledge that throughout the dark days of the pandemic, our team was absolutely committed to safely helping our customers and community any way that we could. For some that was refinancing mortgages to capitalize on the record-breaking low-rate environment of 2020. For others, it was guiding borrowers through forbearance options to sustain them through the temporary dislocation of this global health crisis. Our branch staff remained committed to providing excellent customer service and attractive savings and CD rates to our depositors. Our team continued to remain active in the community through charitable donations and in-person volunteerism when safety would allow. Thank you to my teammates for continuing to help generations of Hawaii's families achieve financial peace of mind and thank you to all of you for continuing your relationship with Finance Factors through both the good times and the challenging times.
In this issue, please read about 1) our continued investment in technology to better serve you, 2) how our loan officers as trusted advisors can help you upgrade or downsize your home in this challenging real estate market, 3) our continued commitment to Maui with the opening of our new Kahului Branch, and 4) several things we have been doing to invest in our community.
Thank you for continuing to choose Finance Factors for your financial matters. We hope for a fun and safe summer for you and your family.
Rob Nelson
President & COO
Finance Factors to Modernize Core Processing System
Over the upcoming Labor Day weekend beginning Friday, September 3, Finance Factors will be modernizing its core processing system to improve efficiencies and continue to provide customers with exceptional products and services.
We have engaged FIS, one of the nation's leading financial products and services companies, to enhance our processing system. Many of our employees have been hard at work since March 2021 in mapping current processes to the new system.
While we are working to make the transition as smooth and seamless as possible, account changes are anticipated for some customers, who will be notified prior to Labor Day weekend.
We are excited about modernizing our processes. The transition will provide you with speedier service, greater security, more convenience, and enhanced products and services. The transition will also provide us with a fuller view of our customer relationships, whereby we can strengthen our ties and better serve you.
Watch for more information to come as we approach Labor Day.
Finance Factors Continues To Serve As An Essential Business
As a financial institution and a designated essential business during this pandemic, Finance Factors continues to remain open and serving customers. All of our 13 branches in the State of Hawaii continue to be open from 9 am to 4 pm Monday through Thursday, and from 9 am to 5 pm on Friday.
Dreaming of a bigger home with more living space to host large family gatherings? Or wishing for a smaller home that's more manageable? Make that dream a reality with the help of a mortgage loan from Finance Factors! Our wide array of options provides solutions for almost any situation.
Buying a new home? Traditional 15- or 30- year fixed rate mortgages with low rates provide predictable payments.
Renting out your home and buying a new home? Let us show you how it can be done.
Renovating your home or building a new one? From renovation loans to construction loans, we have a variety of solutions to meet your needs.
Need to sell your existing home first? Our bridge loans let you buy a new home before selling your existing home allowing you to move smoothly from your current home to your new home without having to find temporary housing. It also gives you time to do repairs and market your existing home, maximizing the value of your property.
Interested in learning more about how we can help? Call us today, 522-2000 on Oahu or toll-free at 1-800-648-7136.
New Kahului Branch to Open June 28
The new Finance Factors Kahului Center on Maui will officially be unveiled when our Kahului Branch relocates on June 25 and opens for business on Monday, June 28.
The new Finance Factors Kahului Center is located at 27 South Puunene Avenue. Finance Factors purchased the property (formerly the branch of another financial institution) in October 2016 and construction began in 2019. The Center was designed by Ushijima Architects, Inc.
The new branch features dedicated parking spaces and an original bank vault that the architects preserved and turned into an office. Sister company Finance Insurance is located next door and there is room for one more tenant.
Finance Factors In The Community
Volunteers for Lau Kupu Day Re-Home 250 Native Plants and Help Raise $26,000 for Youth Programs
Kupu, Hawaii's leading conservation and youth education nonprofit organization, celebrated the success of its first-of-a-kind hybrid event with the goals of raising funds and engaging community in service through Lau Kupu Day 2021 (March 20).
With 108 participants ready to serve, 100 native plants were planted at Kapapapuhi Point Park, 150 plants were available at the drive-thru, and those not given away were taken to the North Shore's Kuilima Farm to be planted.
In total, Kupu was also able to raise $26,000 in much needed support for its programs, thanks to lead sponsor HECO, as well as American Savings Bank, the Doo 'Ohana, Finance Factors, Locations Hawaii, Pacific Current, and Prince Waikiki.
Representing the Finance Factors Family of Companies at the event are from 2nd to the left to right: Rob Nelson, Benson Choo, Jen Lau, Natasha Lee and Paula Powell.
Employees Pitch in for Earth Day Celebration Cleanup
On Saturday April 24, twenty Finance Factors employees and their friends and family went to the picturesque Sherwoods Beach on the Windward side of Oahu to celebrate Earth Day. They joined hundreds of others to give back to this island we call home. The 500+ volunteers removed 818 pounds of debris, which included 200,000+ pieces of microplastics. Of the 818 lbs., 145 lbs. was recycled, 31 lbs. was upcycled, and 52 lbs. of microplastics will be used for education program activities.
More Community News
Employees Donate More than $6,000 to Annual HBA Food Drive
Employees from the Finance Factors Family of Companies, which includes Finance Factors, Finance Insurance, Waipono Investment Corporation, and Finance Enterprises, donated more than $6,000 during the Hawaii Bankers Association Annual Food Drive (May 1 to 31).
100% of the proceeds will benefit Hawaii FoodBank on Oahu and Kauai, Maui Food Bank, and The Food Basket on Hawaii Island.
According to the Hawaii Foodbank, every $10 donation provides 25 meals, which means the $6,000 donation will provide more than 15,000 meals.
Russell Lau Elected President of the CCCH for 2021-2022
Finance Factors Chairman Russell Lau was recently elected President of the Chinese Chamber of Commerce of Hawaii (CCCH) for the period June 1, 2021 to May 31, 2022.
Other elected officers include President-Elect Jon Cook, First Vice President Angeline Shiroma, Second Vice President Michelle Wong, Third Vice President Michael Young, English Secretary Yu Shing Ting, Chinese Secretary Cy Feng, and Treasurer Sherman Wong. The Immediate Past President is Elvira Lo.
The CCCH was founded in 1911, initially to provide service to the merchants in Chinatown Honolulu, and to assist the immigrant population assimilate into their new community. Since those humble beginnings 110 years ago, the Chinese Chamber has grown tremendously and now serves as a leader and an active voice for not only Chinatown but the Chinese community in Hawaii.
Today, Chinese Chamber members are active in the community as prominent business, professional and civic leaders who are also patrons and supporters of community efforts and organizations. The Chinese Chamber's mission is to promote business and economic development, to preserve its rich cultural heritage and to encourage civic responsibility, primarily through education and outreach.
As a financial institution and a designated essential business during this pandemic, Finance Factors continues to remain open and serving customers. All of our 13 branches in the State of Hawaii continue to be open from 9 am to 4 pm Monday through Thursday, and from 9 am to 5 pm on Friday.
