Question 1

What is Hawaii Community Federal Credit Union (Hawaii Community FCU)?

Accepted Answer

Hawaii Community Federal Credit Union (Hawaii Community FCU) is a federally chartered, member-owned financial cooperative serving Hawaii Island (the Big Island). With over 45,000 members and approximately $770 million in total assets, HCFCU operates as a community-focused credit union offering a full range of financial services. The credit union is regulated by the National Credit Union Administration (NCUA) and is designated as a low-income credit union, reflecting its commitment to serving underserved communities.

The institution specializes in personalized member service and community investment, maintaining deep roots in Hawaii Island's agricultural heritage and local culture.

Question 2

When was Hawaii Community Federal Credit Union (Hawaii Community FCU) founded?

Accepted Answer

Hawaii Community Federal Credit Union was founded in 1936 during the Great Depression by ten struggling Kona coffee farmers who were denied loans and services by traditional banks. Originally chartered as Kona Farmers Federal Credit Union, it was established to provide financial support and services to local farmers cultivating Kona coffee—a unique crop grown nowhere else in the United States.

The credit union evolved significantly over the decades. In 1939, just three years after its founding, the field of membership expanded to include members of the general community, and the name changed to Kona Community Federal Credit Union.

In 1982, the credit union merged with Kohala Federal Credit Union, expanding its geographic reach and membership base. A decade later, in 1991-1992, it adopted its current name, Hawaii Community Federal Credit Union, and extended membership eligibility to the entire Hawaii Island.

Question 3

Where is Hawaii Community Federal Credit Union (Hawaii Community FCU) headquartered?

Accepted Answer

Hawaii Community Federal Credit Union is headquartered in Kailua-Kona, Hawaii. The main office is located at 73-5611 Olowalu Street, Kailua-Kona, HI 96740.

Question 4

Where does Hawaii Community Federal Credit Union (Hawaii Community FCU) operate?

Accepted Answer

Hawaii Community Federal Credit Union operates exclusively on Hawaii Island (the Big Island), with six branch locations throughout western and northern Hawaii Island:
• Kaloko (main office) - Kailua-Kona
• Downtown Kailua-Kona
• Kealakekua
• Kohala (Kamuela area)
• Honokaa
• Hilo (Hilo Service Credit Union location)

Membership is open to individuals who live, regularly work, worship, attend school, or perform volunteer services on Hawaii Island, as well as their immediate family members and household members. Business entities and organizations located on Hawaii Island are also eligible for membership.

Through the CO-OP Network shared branching program, members can access their accounts at thousands of shared branch locations across the United States, Puerto Rico, and Canada when traveling off-island.

Question 5

What services does Hawaii Community Federal Credit Union (Hawaii Community FCU) offer?

Accepted Answer

Hawaii Community Federal Credit Union provides comprehensive financial services including:

Deposit Accounts: Share (savings) accounts, checking accounts, money market accounts, certificates of deposit, and Individual Retirement Accounts (IRAs).

Lending Services: Auto loans, personal loans, home equity loans, mortgage loans, credit cards (Visa with CURewards program starting at 7.90% APR with no annual fees), and business loans.

Digital Banking: Full-featured online banking platform (eBranch), mobile banking app for iOS and Android with mobile check deposit capabilities (up to $5,000 per check), text banking for balance inquiries and transfers, and 24/7 account access.

Additional Services: Bill payment, fund transfers, notary services at all branches, financial counseling, and access to over 30,000 surcharge-free ATMs nationwide through the CO-OP Network and Hawaii credit union network.

All member deposits are federally insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), with IRAs insured separately up to $250,000.

Question 6

What makes Hawaii Community Federal Credit Union (Hawaii Community FCU) unique?

Accepted Answer

Hawaii Community Federal Credit Union holds a distinctive place in American financial history as the only credit union in the United States founded by farmers cultivating Kona coffee—a specialty crop grown exclusively in Hawaii. This agricultural heritage remains central to the credit union's identity and community focus.

The credit union emphasizes personalized, relationship-based service, with members frequently noting that staff know them by name and face. This "ohana" (Hawaiian for family) culture creates a warm, community-oriented banking experience that distinguishes HCFCU from larger financial institutions.

As a low-income designated credit union, HCFCU demonstrates commitment to financial inclusion and serving underserved populations throughout Hawaii Island. The credit union maintains strong ties to local communities through member-focused decision-making rather than shareholder-driven priorities.

The institution has consistently maintained strong financial performance, with a return on average assets of 0.86%, a healthy net worth ratio of 9.75%, and steady membership growth of over 2% year-over-year.

Question 7

What type of financial institution is Hawaii Community Federal Credit Union (Hawaii Community FCU)?

Accepted Answer

Hawaii Community Federal Credit Union is a federal credit union chartered and regulated by the National Credit Union Administration (NCUA). As a federal credit union, it operates under federal charter and follows federal regulations governing credit union operations.

HCFCU operates as a not-for-profit financial cooperative, meaning it is wholly owned by its member-depositors. Unlike banks that are owned by shareholders and operate for profit, credit unions return earnings to members through higher savings rates, lower loan rates, reduced fees, and enhanced services.

The cooperative structure means each member has equal voting rights regardless of account balance, with members electing a volunteer Board of Directors to govern the credit union. This democratic structure ensures the institution remains focused on member needs rather than maximizing profits for external investors.

Membership requires opening a share (savings) account, establishing member-ownership in the cooperative. Once someone joins, they remain a member for life as long as they maintain their account and keep it active, even if they move away from Hawaii Island.

Hawaii Community Federal Credit Union (Hawaii Community FCU)

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About Hawaii Community Federal Credit Union (Hawaii Community FCU) in the United States