community bank of american samoa

Samoa. We call on the Federal Reserve to conduct hearings in both. American Samoa and Hawaii and to slow or stop Bank of Hawaii's exit. Routing Number, 121404048. Bank, TERRITORIAL BANK OF AMERICAN SAMOA. Address, 1525 W 820 N. City, PROVO. State, UT. ZIP, 84601. Phone, 800-274-6262. U.S. Department of Education Approves American Samoa's Implementation Plan for Use of American Rescue Plan Funds to Support K-12 Schools and Students.

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Bank of American Samoa

The Bank of American Samoa was founded in 1914 but since 2018 no longer exists.

History[edit]

In 1914 Governor C. D. Stearns established the bank in American Samoa,[1][2] with its headquarters at Pago Pago. On 25 July 1929, under the direction of GovernorStephen Victor Graham, the bank received a more solid legal foundation .[3]

In 1969 Bank of Hawaii community bank of american samoa acquired the bank, which at the time had three branches. BOH amalgamated Bank of American Samoa and operated two branches in Pago Pago, Tutuila.

In 2018, BOH donated its community bank of american samoa to the newly formed public bank, the Territorial Bank of American Samoa.[4]

References[edit]

Further reading[edit]

  • Bryan, Capt. Henry Francis, USN. 1927. American Samoa: A General Report by the Governor. Washington, DC: US Government Printing Office, p. 98.
  • Noble, A.M. 1931. Codification of the Regulations and Orders for the Government of American Samoa: Customs, Immigration and Harbor Regulations, American Samoa. Printed for the Use of the American Samoan Commission. Washington, D.C.: US Government Printing Office.
  • Tschoegl, A.E. 2005. Foreign Banks in the Pacific: A Note. Journal of Pacific History.
Источник: https://en.wikipedia.org/wiki/Bank_of_American_Samoa

American Samoa finally gets a public bank. And U.S. states are watching

WASHINGTON — American Samoa is finally getting its own full-service bank — and successfully creating only the second public bank in the United States.

The Federal Reserve is allowing the Territorial Bank of American Samoa access to the U.S. payments system nearly two years after the bank first applied.

The decision is a boon to the remote U.S. territory in the South Pacific, where more than half of the households are at, near or below the federal poverty level. Officials across the seven islands that comprise American Samoa have been scrambling for a way to maintain local banking services since the Bank of Hawaii announced in 2012 it was leaving the territory.

“It’s a huge deal for the people of American Samoa,” Phil Ware, president of the Territorial Bank, said in an interview.

It is also a significant development for those far away from American Samoa. The chartering of a new public bank may provide momentum for similar efforts community bank of american samoa. The only still operating public bank in the U.S., the Bank of North Dakota, was created a century ago. States like New Jersey and cities like Seattle and San Francisco are receptive to the idea of forming new public banks as brenton harrison tarrant religion way to help the local economy.

“It does set a precedent,” said Ellen Brown, founder and president of the Public Banking Institute, which is backing the New Jersey effort. “It definitely will add impetus.”

Though the Territorial Bank, which is backed by the government in American Samoa, technically opened its doors in October 2016, it has been able to offer only a narrow menu of services until now. It lacked access to the U.S. payments system, which is necessary to offer banking basics such as debit cards and checks to customers.

Organizers applied in July 2016 to the American Bankers Association for a transit routing number, which would make the bank part of the payment system. But to get that approval, the Federal Reserve had to sign off that the bank was eligible for central bank services.

That finally happened in early April, when the Federal Reserve Bank of San Francisco authorized the opening of the account. The Territorial Bank subsequently opened a correspondent banking relationship with a U.S. bank.

“This is the first time we’ve had access to the payments system of the United States,” Ware said. “We’ve been able to open checking accounts, but couldn’t give checks. We couldn’t do wire transfers or debit cards. We haven’t had a supply of cash, and American Samoa is basically a cash-based economy.”

“There hasn’t been a commercial loan made on the island in five years or more."

With the Fed approval, that all changes, he said.

“Now we can give customers other payment options to get them out of the cash-based economy and into 21st-century payment methods,” Ware said.

Robert Ho Chee, the head of American Samoa’s new Office of Financial Institution, the bank’s regulator, said the fate of the Territorial Bank has been of keen interest to islanders, many of whom believe their economic future depends on its success.

“Every day I get asked, Is the routing number done?" he said. “I had to explain to them … it’s a process.”

The bank is the community bank of american samoa of years of effort. Since Bank of Hawaii made its announcement six years ago, island leaders and investors have made several attempts to start their own bank. They finally landed on a rarely used solution: Create a public bank that doesn’t require deposit insurance and hence does not need approval by the Federal Deposit Insurance Corp.

The Fono, the territory’s legislature, passed a law creating the bank but structured it as a bank holding company, subject to supervision by the Fed and the territory’s regulator. But the Fed raised concerns about the bank’s structure, urging the territory to drop the bank holding company status, according to multiple sources.

The Fono did so late last year, changing the structure and awaiting word from the Fed on the status of its account.

The final approval came in part after the intervention of Randal Quarles, the vice chairman of banking supervision at the Fed, who took up the issue after meeting in Utah with American Samoa’s governor, Ware and bank industry representatives.

“It took the new vice chair coming in,” said Ho Chee.

Both the San Francisco Fed and a spokesman for Quarles declined to comment for this article. But sources suggested that the Fed was at least partly concerned about what kind of precedent it would set in approving a public bank.

Ho Chee said the approval is auspicious, as many islanders are receiving funds after the destruction wrought by Tropical Cyclone Gita in February.

“Right now, there’s an influx of a lot of funds coming in because of the hit by Cyclone Community bank of american samoa said Ho Chee. “All the federal funds, public assistance, all that cash is coming over here and … this is a perfect time to launch TBAS. People will need to open accounts.”

Ware said an additional focus will be on providing business loans to the territory.

“There hasn’t been a commercial loan made on the island in five years or more,” he said. “So one of the first things we want to start doing is extend credit to the small-business community. That is a necessary part of the economy.”

Public-bank supporters, meanwhile, see the Fed approval as a sign that there won’t be regulatory hurdles to the creation of additional public banks in the U.S.

The idea has caught fire of late in part because officials in California and other states where marijuana is legal have suggested public banks community bank of american samoa a potential solution for serving the pot industry, which has been largely shunned by banks and credit unions alike due to federal laws.

“It is significant that a new public bank has been opened within the U.S. territory and can function within the payments” system, said Thomas Marois, senior lecturer of development studies at the University of London, who has studied public banks. “It demonstrates that there is no … legal barrier.”

Источник: https://www.americanbanker.com/news/american-samoa-finally-gets-a-public-bank-and-us-states-are-watching

Bank of Hawaii to stay in American Samoa for now

American Samoa's Chamber of Commerce says it's a huge relief the Bank of Hawaii has indefinitely shelved plans to leave the country.

A crisis loomed when the bank announced its intention to pull out of the territory last year.

The President of American Samoa's Chamber of Commerce David Robinson says a public protest led by the Governor Lolo Moligna has helped avert a disaster.

"We are very grateful from a business perspective that this has happened," he told what craft stores are open today Beat.

"It will take a lot of pressure off the existing retail bank which is the ANZ bank.

"They've been struggling because of the upswing in demand.

"And it will also give the community bank, which is a new bank being planned, more time to carry out their negotiations and discussions with the federal regulatory authorities in the United States."

The new community bank is expected to open in the new year and fill the void of the Bank of Hawaii.

"I hope the community bank has great success with the regulators," Mr Robinson said.

"There are certain advantages in that a local bank can control its own destiny it terms of how it applies its funds and what it does generally from a fiduciary point of view."

The Bank of Hawaii is still expected to leave American Samoa but not until the territory's banking sector is prepared.

"Their departure will be determined when it will not lead to any economic hardship in the community," Mr Robinson said.

"I don't know what we read into that in terms of length of time but obviously I would think that it gives everybody a bit more time to get their plans in order."

Источник: https://www.abc.net.au/news/2013-12-12/an-bank-of-hawaii-to-stay-in-american-samoa-for-now/5152740

Zions Bank to take over government payroll processing in American Samoa

Zions Bank and American Samoa officials said Monday night that the Salt Lake City financial institution intends to take over government payroll processing and other select banking services for American Samoa after Community bank of american samoa of Hawaii pulls out of the U.S. territory. Zions Bank does not intend to have a physical presence in the territory nor does it plan to take over all banking functions that Bank of Hawaii currently provides to American Samoa citizens. 

Bank of Hawaii plans to close its Tafuna branch in American Samoa on Friday but said last week it will keep open its only other branch — in Utulei — an additional 90 days until June 14. Bankoh has been in American Samoa for more than 40 years but said it is pulling out community bank of american samoa to the territory’s geographic isolation from the bank’s other markets.

A hearing is scheduled by the Federal Reserve Bank of San Francisco for 10 a.m. today at Hilton Hawaiian Village to discuss the impact of Bankoh’s pending withdrawal from American Samoa. 

Bankoh’s departure would leave Australia-based ANZ, owned by Australia and New Zealand Banking Group, as the only other bank in the territory. However, a group of American Samoa business people and residents are raising money in an attempt to start a community bank, which would need approval from the Federal Deposit Insurance Corp.

“I applaud Zions Bank’s efforts to help us through some of the hardship that Bank of Hawaii’s closures will cause, but we still need a physical American bank in American Samoa and we still need an effective way to share funds between American Samoa and Hawaii,” said Leotele Renee Togafau, a University of Hawaii law student raised in American Samoa and actively working to encourage Bank of Hawaii to delay its branch closures. “This does not change the fact that we still need Community bank of american samoa of Hawaii to stay until we have a real banking alternative.”

Источник: https://www.staradvertiser.com/2013/03/12/breaking-news/zions-bank-to-take-over-government-payroll-processing-in-american-samoa/
  AP Business Writer

PAGO PAGO, American Samoa (AP) — American Samoa is opening accounts with Utah-based Zions Bank over the Internet now that Bank of Hawaii is shutting down its operations in the U.S. territory.

Zions doesn't plan to open a physical branch in American Samoa but instead will handle the U.S. territory's banking needs online.

American Samoa Treasurer Falemao "Phil" M. Pili has hsbc bank usa phone number working with Zions since March to move 26 government accounts to the new bank. The shift becomes effective on Monday, the start of the new fiscal year.

Zions says it's focusing on serving the government at this point but is looking to expend its service to American Samoa individuals and businesses.

The government will use a scanner provided by Zions national bank of arizona app deposit checks. It's also encouraging employees to get their paycheck with direct deposit, Pili said.

The government is "excited" about using the Zions commercial card which provides rebates. Pili said.

Jacob Heugly, Zions executive vice president of corporate services, said the bank gives back to card users a percentage of what they spend depending on how quickly vendors pay the bank.

Pili said American Samoa doesn't currently get this community bank of american samoa from Bank of Hawaii.

"That in its self is a huge savings for us because the amount of purchases going out to the different vendors is a couple of hundred millions a year from just the government alone," Pili said.

Bank of Hawaii said last year it had become increasingly difficult to deliver an appropriate level of service to American Samoa because of the territory's geographic isolation from its other markets.

The Honolulu-based bank's exit leaves ANZ Bank, which is owned by Australia New Zealand Banking Group, as the only bank in American Samoa.

At first Bank of Hawaii was going to shut down its two branches this td bank open till 8pm today. It later agreed to keep one branch open until March 2014 while local government officials tried to set up a replacement.

Last week, the Pg one Bank of American Samoa applied to the Federal Deposit Insurance Corp. to set up a new bank and receive federal deposit insurance. It aims to operate two branches.

Chairman Avamua Dave Haleck said about 50 founding investors have expressed interest in investing $8 million in the bank. Spokesman Lewis Wolman said the founding investors either live in American Samoa or operate businesses in the territory.

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Источник: https://www.usatoday.com/story/money/business/2013/09/30/american-samoa-turns-to-internet-for-banking/2899241/

Community bank of american samoa -

University of Mary’s 60th Commencement Ceremonies are April 24

BISMARCK, ND — On Saturday, April 24 the University of Mary will award degrees to 2056 graduates at its 2021 commencement. This year, because the University of Mary is combining the 2020 and 2021 commencements into one day, there are two ceremonies in the Bismarck Event Center on 7th Street and Front Avenue, Bismarck. The first ceremony for undergraduates begins at 11:30 a.m., while the second ceremony for graduate students begins at 3 p.m.

At that time, the class of 2020 (marked with asterisks below) will receive a special-edition honor cord to wear with their cap and gown. This is also the first graduating class for the Doctorate of Occupational Therapy and the Master of Arts in Catholic Studies.

Founded and sponsored by the Benedictine Sisters of Annunciation Monastery of Bismarck, the University of Mary will award 1101 bachelor’s degrees, 772 master’s degrees and 221 doctoral degrees. These students come from 46 states representing 27 countries.

119 received the summa cum laude designation, 169 earned magna cum laude designation and 284 students received the cum laude designation. Additionally, 77 students have earned the Certified Schafer Leader designation from the Harold Schafer Emerging Leaders Academy.

The 2021 University of Mary graduation ceremonies can be viewed through live streaming at: www.lifeatmary.com

Honorary Doctorate Degree

Undergraduate Commencement Speaker

Vern Dosch has been married to his wife, Lynne for 37 years. Together they have two sons, a daughter, and six grandchildren. Dosch has received degrees from the University of Mary in business administration as well as a master’s of management.

Dosch served in the rural electric and telecommunication industry for 45 years, most recently as the president and CEO of the National Information Solutions Cooperative (NISC) from 2002 to 2020. NISC is an information technology company that develops and supports accounting, billing, and engineering software for more than 850 electric cooperatives, telephone companies, and municipalities in all 50 states, American Samoa, Palau, and Canada.

Under Dosch’s leadership, NISC’s employee base grew from 30 employees to more than 1,400 between its six facilities in North Dakota, Missouri, Wisconsin, Iowa, Virginia, and Texas, as well as virtual office sites around the country.

A noted speaker and published author of “Wired Differently: How to Spark Better Results with a Cooperative Business Model, Servant Leadership and Shared Values,” Dosch’s cooperative spirit didn’t end with NISC. Dosch has served on the Boards of CHI St. Alexius Medical Center, Bismarck State College Foundation, Starion Bank, Light of Christ Capital Campaign, God’s Child Project Foundation, Higher Education Roundtable, Capital Grounds Planning Commission, Yellowstone Strategies, Leadership North Dakota, and Missouri Slope Areawide United Way.

Dosch retired from NISC in January 2020 and was immediately tapped to lead North Dakota’s coronavirus contact tracing efforts. The launch of the Care 19 app and strategy of testing university students returning to campus were among Dosch’s accomplishments.

He was inducted into the Cooperative Hall of Fame in January of this year, a testament to his years of humble service and devotion to the cooperative model.

Graduate Commencement Speaker

Dr. Jodi Roller, PT, EdD, DPT, began her career as a professor at the University of Mary in 1995 after 23 years of clinical practice, most of which was in pediatrics. She joined Dr. Michael Parker’s efforts in establishing the Master of Physical Therapy program, first by working as the director of clinical education followed by assistant director and finally chair of the program, a position she held for 8 years. During her tenure as chair, the program transitioned into a Doctor of Physical Therapy.

In 2010, Dr. Roller was named Dean of the School of Health Sciences, a position she held until her retirement. She advised numerous research projects; has given several poster presentations at national PT conferences, and has publications in the Journal of PT Education, Journal of Neurologic PT, and Journal of Aquatic Therapy. In 2015, she wrote a $500,000 grant which was funded by the Margaret A. Cargill Foundation and helped fund the purchase of Syndavers at the University of Mary.

Dr. Roller’s first husband, Joe, passed away from amyotrophic lateral sclerosis (ALS) in 1994, 8 years from the date of diagnosis. She has shared their story to inspire hundreds of health science students. Dr. Roller married Bob Martinson, a state representative from Bismarck, in 2004.  Dr. Roller’s son Matthew is a neurologist, and his wife Kylee is a clinical psychologist. Her daughter, Rebecca, and son-in-law Chris are both dentists. Dr. Roller and her children were all awarded doctorate degrees in the same year. Dr. Roller and Representative Martinson have seven grandchildren ranging in age from 5 to 17. Dr. Roller retired as dean of the School of Health Sciences in 2020.

Источник: https://www.umary.edu/node/968

Bank of American Samoa

The Bank of American Samoa was founded in 1914 but since 2018 no longer exists.

History[edit]

In 1914 Governor C. D. Stearns established the bank in American Samoa,[1][2] with its headquarters at Pago Pago. On 25 July 1929, under the direction of GovernorStephen Victor Graham, the bank received a more solid legal foundation .[3]

In 1969 Bank of Hawaii (BOH) acquired the bank, which at the time had three branches. BOH amalgamated Bank of American Samoa and operated two branches in Pago Pago, Tutuila.

In 2018, BOH donated its branches to the newly formed public bank, the Territorial Bank of American Samoa.[4]

References[edit]

Further reading[edit]

  • Bryan, Capt. Henry Francis, USN. 1927. American Samoa: A General Report by the Governor. Washington, DC: US Government Printing Office, p. 98.
  • Noble, A.M. 1931. Codification of the Regulations and Orders for the Government of American Samoa: Customs, Immigration and Harbor Regulations, American Samoa. Printed for the Use of the American Samoan Commission. Washington, D.C.: US Government Printing Office.
  • Tschoegl, A.E. 2005. Foreign Banks in the Pacific: A Note. Journal of Pacific History.
Источник: https://en.wikipedia.org/wiki/Bank_of_American_Samoa

MEDIA RELEASE 038

CONTACT:

Josephine Malepeai Lealasola, Agricultural Specialist

(684) 633-1031 extension 127

Pago Pago, American Samoa September 25, 2010 – Farm Service Agency (FSA) State Executive Director Diane Ley recently made her inaugural visit to the American Samoa USDA Service Center August 26th through the 29th along with the Natural Resources Conservation Service (NRCS) Director for the Pacific Islands Area Larry Yamamoto.

The executive delegation met with the Honorable Governor of American Samoa Togiola Tulafono to review how the USDA FSA has been able to contribute in the recovery for local commercial farmers by making available the Emergency Loans program and through the Environmental Quality Incentives Program offered through NRCS.

Ley and Yamamoto also met with the Deputy Director of the Department of Agriculture Peter Gurr, the Associate Director of the Community and Natural Resources Division at the American Samoa Community College Aufa’i Apulu Ropeti Areta, the Vice President of the Development Bank of American Samoa in addition to checking in with the American Samoa Chamber of Commerce President Joey Cummings.

The highlight of the trip included visits with five USDA producers enrolled in NRCS and/or FSA programs. Ley and Yamamoto took tours of their individual and unique operations and got a chance to speak to the producers one on one about their operation goals or limitations and how the USDA programs offered in American Samoa have facilitated their expansion or improvement.

USDA is an equal opportunity provider and employer.

Источник: https://www.fsa.usda.gov/FSA/printapp?fileName=stnr_hi_20100925_rel_038.html&newsType=stnewsrel
  AP Business Writer

PAGO PAGO, American Samoa (AP) — American Samoa is opening accounts with Utah-based Zions Bank over the Internet now that Bank of Hawaii is shutting down its operations in the U.S. territory.

Zions doesn't plan to open a physical branch in American Samoa but instead will handle the U.S. territory's banking needs online.

American Samoa Treasurer Falemao "Phil" M. Pili has been working with Zions since March to move 26 government accounts to the new bank. The shift becomes effective on Monday, the start of the new fiscal year.

Zions says it's focusing on serving the government at this point but is looking to expend its service to American Samoa individuals and businesses.

The government will use a scanner provided by Zions to deposit checks. It's also encouraging employees to get their paycheck with direct deposit, Pili said.

The government is "excited" about using the Zions commercial card which provides rebates. Pili said.

Jacob Heugly, Zions executive vice president of corporate services, said the bank gives back to card users a percentage of what they spend depending on how quickly vendors pay the bank.

Pili said American Samoa doesn't currently get this service from Bank of Hawaii.

"That in its self is a huge savings for us because the amount of purchases going out to the different vendors is a couple of hundred millions a year from just the government alone," Pili said.

Bank of Hawaii said last year it had become increasingly difficult to deliver an appropriate level of service to American Samoa because of the territory's geographic isolation from its other markets.

The Honolulu-based bank's exit leaves ANZ Bank, which is owned by Australia New Zealand Banking Group, as the only bank in American Samoa.

At first Bank of Hawaii was going to shut down its two branches this year. It later agreed to keep one branch open until March 2014 while local government officials tried to set up a replacement.

Last week, the Community Bank of American Samoa applied to the Federal Deposit Insurance Corp. to set up a new bank and receive federal deposit insurance. It aims to operate two branches.

Chairman Avamua Dave Haleck said about 50 founding investors have expressed interest in investing $8 million in the bank. Spokesman Lewis Wolman said the founding investors either live in American Samoa or operate businesses in the territory.

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