By Local, Bank Local: A Winning Combo

BY LISA SCONTRAS

Buying local. Supporting area businesses keeps money in the local economy, which strengthens the community. And considering the current state of the economy, buying local is more important now than ever.

It’s no different when it comes to shopping for a home loan. By “banking local” with a financial institution that understands the finer points of living Hawaii, the advantages are numerous.

“First Hawaiian Bank has been around for 152 years, so customer service is the most important thing we have,” says Wes Young, senior vice president at First Hawaiian Bank. “Rates are basically the same, so they come to us for the service.”

Personal service, local credit decisions, and an individual level of trust are what have drawn consumers to do business with First Hawaiian Bank for more than a century and a half, so it comes as no surprise, then that the motto at First Hawaiian is Service, Solutions and Security.

“We want to help you find a mortgage that works for you and your family, to reach your short-term and long-term needs,” says Young. “We help the parents and continue a relationship with the family. Ultimately, that customer will refer their kids to open up a savings account, a checking account, maybe a car loan, and then hopefully when they buy a home, they think of us. Often parents will help their kids make that first home purchase, and they already have a relationship with us.

“It helps that all of the senior managers at First Hawaiian are locally grown,” Young says. “We’re your neighbors, you see us around town. You know us already.”

The service part of the slogan comes through helping customers by assigning them a personal banker to help them make decisions and to answer questions.

“Our customers like to be able to talk face-to-face, not with an 800 number,” says Young. “We can pronounce your name, we know the Hawaii market, and we’re here for you. If you have a question about a payment, about your homeowners insurance or real property tax, we will research it for you, and get back to you.”

Your personal banker will help you find solutions, by showing you different loan options and helping you to find the best way to meet your financial goals. The aim of the personal banker is to help consumers borrow for what they need and invest in their futures.

“Because we take the time to get to know you and your family, we can evaluate loan decisions with regard to your personal circumstances,” says Young. “It’s not just about one transaction. We’re focused on doing what is best for our customers.”

Finally, the third part of the slogan is security.

“We are the largest bank in Hawaii – most assets, most revenue and highest net worth,” says Young. “That makes us the strongest and the safest in the financial community. And we’re ranked with the top U.S. banks.”

Regarding the 15-year mortgage rates at 3.375 percent this week, and the resultant surge in refinancing, Young adds, “Sure, people are taking advantage of the lower rates. But for our customers, it’s mostly about the local service. It’s what we’re known for. And we strive to live up to our reputation.”