Honolulu Federal Credit Union (HFCU) was chartered on December 3, 1936 as a financial cooperative for U.S. Federal
Employees employed in Honolulu. It was the fifth credit union formed in what was then the Territory of Hawaii. Today, HFCU has more than
15,000 members with assets of over $231 million, served by 40 employees at four branches.
The credit union was chartered as a not-for-profit cooperative, owned and operated for the benefit of its members. While what a credit
union does is similar to what a bank does (both make loans and accept deposits), it is why we do it and how we do it that make us
different from banks. Credit unions are owned by their members, and any surplus above expenses belongs to its members. Credit unions are
run by unpaid volunteers who serve on the Board of Directors and/or Supervisory Committees. The board, in turn, hires a staff to run the
day-to-day operations. Credit unions do not have stockholders and are democratically run, meaning each member has only one vote. There
are over 7,500 credit unions in America today.
HFCU is "Enriching Island Life." Our mission statement reflects this dedication: "We are committed to serve our members by providing quality services, products and education to help achieve their financial success."
The objective of HFCU is to provide high savings rates and low loan rates to our members.
In 2011, HFCU shares were $203.3 million and loans were $104.0 million. The credit union approved 2,122 loans totaling $21.2 million. The
average return on all shares was 0.44% and the average rate on all loans was 5.44%. Net income was $997 thousand and capital remained a
strong 10.72% of assets. This very high capital ratio helps to keep HFCU strong and your savings
Individuals in the following fields of membership are eligible to join Honolulu FCU:
Civilian employees of the U.S. Government headquartered in Honolulu, Hawaii, including civilian and
military employees of all branches of Department of Defense.
Civilian and military personnel of the 14th Coast Guard District who work in or have headquarters in
the 14th Coast Guard District, Hawaii.
Members of the U.S. Armed Forces including the U.S. Coast Guard who live in Hawaii, active or retired, or
their dependents or dependent survivors who live in Hawaii who are eligible to receive and are receiving
benefits or services from the Sand Island Coast Guard Base in Hawaii.
Contractors and employees of contractors who regularly work at the Sand Island Coast Guard Base in
Hawaii under contract with the U.S. Government except those who are eligible for primary membership in
another credit union by virtue of their employment.