“ Mahalo: A review of HCFCU, a local credit union that has been serving the Hawaiian communities on Big Island honorably since 1936.”
By: Allan R. Kirby
We review Credit Unions:
Mysmallbank.com feels compelled to find the best credit unions and community banks to write a small review. These reviews are to help you learn more about community banks, possibly one that's in your area that you might be interested in. In this review we are choosing the following local Credit Union:
Location: Island of Hawaii (Big Island).
Headquartered: Kailua Kona.
Contact Information: (808) 930-7700, Toll-Free: (800) 514-2328.
Branches: 6.
Year Established: 1936. (Read more about the history of HCFCU at the end of this article.)
Review:
Hawaii Community Federal Credit Union (HCFCU) is a six-branch full-service bank that serves the Island of Hawaii (Big Island). Our decision to name HCFCU, Excellent Choice Credit Union, was based on our own research on reviews, services offered as well as their commitment to their membership and the communities they serve. What we found was a great community credit union that provides many products and services such as Personal Banking, Loans, and Credit Cards. One unique service we particularly liked was the Vacant Land & Construction Loan designed to help members with ownership. We also found the credit union periodically provides special offerings such as the new auto loan rates, as low as 1.99% APR!. We love these types of deals as it shows how competitive credit unions can be with their loan offerings.
"Want to learn more about HCFCU read the quarterly issue of Owners Count here"
In fact, HCFCU continually provides very competitive loans rates with flexible terms to members such as;
Mortgage Loans as low as 2.633% APR.
New Auto Loans at 3.00% APR.
Credit Card coming in at 7.90% APR.
Note: APR = Annual Percentage Rate. APR will be based on creditworthiness and length of repayment. Rate subject to change without notice.
About Hawaii Community Federal Credit Union
Looking at Hawaii Community Federal Credit Unions' (HCFCU) size, it currently has close to $715 million in assets, 6 branches, and over 44,000 members. ibanknet. The credit union was founded in 1936 and is headquartered in Kailua Kona, Big Island, Hawaii.
We will now provide you some additional highlights of Hawaii Community FCU credit unions' products and services:
Supports Small Business:
One important aspect credit unions is their ability to use their deposits to make loans to local businesses, which is economically important and ensures the viability smaller communities. Hawaii Community Federal CU does not disappoint as they also understand the importance of supporting local businesses on Hawaii Island. The credit union provides business loans that are;
Flexible to meet the businesses plans.
Provide affordable rates.
Ensures quick approval and closings.
Small Business Loans provided include:
Business Loans
Business Letters of Credit
Small Business Line of Credit
Personal banking: Free Checking Account
Finally we wanted to highlight the HCFCU's free checking account, which will meet all of your basic banking needs. The account provides:
No minimum balance requirements.
No monthly servcie fee.
Includes access to all e-services.
Excellent Choice Credit Union:
We were pleased with HCFCU's commitment to providing a great array of financial services to its members, unfortunately, we simply could not highlight everything such as their best price discounts on vacations, Community Seminars and Youth Finances. But we believe Hawaii Community Federal CU has clearly shown they are a great full-service Credit Union. This is why Mysmallbank.com believes Hawaii Community Federal Credit Union is well deserved to receive the designation of Excellent choice, Credit Union [2]. So if you're looking for a great community-based credit union and you live or plan to live on Big Island, Hawaii this could be a great financial institution for you.
Finally, we found that the Hawaii Community Credit Union is a federally insured credit union through NCUA [1].
Who is Eligible:
As per their website: To become a member of Hawaii Community Federal Credit Union:
Individuals who live, regularly work, worship, attend schools or perform volunteer services on Hawaii Island; and members of their immediate families or household and organizations of such persons.
Any business and other legal entities located on Hawaii Island.
Immediate family members of a natural person member or potential member may join the credit union even if they do not live, regularly work, worship, attend schools or perform volunteer services on Hawaii Island.
Immediate family members are defined as grandparents, parents, step-parents, spouse, siblings, step-siblings, children, adopted children, step-children,, and grandchildren of the natural person member or potential member.
Membership is open to persons who reside in the same “household” as a current member even if the residence is located outside Hawaii Island.
"Household" is defined as persons living in the same home and who maintain a single economic unit. This includes any family members, domestic partners, foster children,, and legal guardian relationships.
Apply Now to become a member.
The following provides additional information on Hawaii Community Federal Credit Union services, branches, and hours of operation.
Services Offered:
Full-Service Credit Union: Yes
Hawaii Community Federal Credit Union Routing Number: 321379818
Personal Banking:
Checking
Savings
Retirement
Credit Union Loans:
Auto Loan
Mortgage Loan
Home Equity Line of Credit
Personal Loan
Education Loan
Hawaii Community Federal CU Credit Cards: Visa
Credit Union Online
Online and Mobile Banking: Yes
HCFCU Branch Locations:
Hilo Branch
111 Aupuni St.
Hilo, HI 96720
Phone: 808-930-7700 Toll-Free: 800-514-2328
Lobby Hours
Mon. - Thu.: 8:30 a.m. to 4:30 p.m. Fri: 8:30 a.m. to 5 p.m. Sat.: 8:30 a.m. to 12 p.m. Kupuna Service Mon. - Fri.: 8:30 a.m. to 9 a.m.
Drive-Up Hours
Mon. - Thu.: 8:30 am to 4:30 pm Fri: 8:30 am to 5 pm
Honoka'a Branch
45-690 Pakalana St., Suite A
Honoka'a, HI 96727
Phone: 808-930-7700 Fax: 808-930-7493 Toll-Free: 800-514-2328
Lobby Hours
Mon. - Thurs.: 8:30 a.m. to 4:30 p.m. Fri.: 8:30 a.m. to 6 p.m. Kupuna Service Mon. - Fri.: 8:30 a.m. - 9 a.m.
Kailua-Kona Branch
75-159 Hualalai Road
Kailua-Kona, HI 96740
Phone: 808-930-7700 Fax: 808-329-9288 Toll-Free: 800-514-2328
Lobby Hours
Mon. - Thurs.: 8:30 a.m. to 4:30 p.m. Fri.: 8:30 a.m. to 6:00 p.m. Sat.: 8:30 a.m. to 12 p.m. Kupuna Service Mon. - Fri.: 8:30 a.m. to 9 a.m.
Drive-Up Hours
Mon. - Thurs.: 7:30 a.m. to 5:00 p.m. Fri.: 7:30 a.m. to 6:00 p.m.
Kaloko Branch
73-5611 Olowalu St.
Kailua-Kona, HI 96740
Phone: 808-930-7700
Fax: 808-930-7679
Toll-Free: 800-514-2328
Lobby Hours
Mon. - Thu.: 8:30 a.m. to 4:30 p.m.
Fri.: 8:30 a.m. to 6 p.m.
Sat.: 8:30 a.m. to 12 p.m.
Kupuna Service Mon. - Fri.: 8:30 a.m. to 9 a.m.
Drive-Up Hours
Mon. - Thu.: 7:30 a.m. to 5 p.m.
Fri.: 7:30 a.m. to 6 p.m.
Kealakekua Branch
81-6631 Mamalahoa Highway
Kealakekua, HI 96750
Phone: 808-930-7700
Fax: 808-322-6537
Toll-Free: 800-514-2328
Lobby Hours
Mon. - Thurs.: 8:30 a.m. to 4:30 p.m.
Fri.: 8:30 a.m. to 6 p.m.
Kupuna Service Mon. - Fri.: 8:30 a.m. to 9 a.m.
Kohala Branch
PO Box 39
54-396 Union Mill Road
Kapaau, HI 96755
Phone: 808-930-7700
Fax: 808-930-7463
Toll-Free: 800-514-2328
Lobby Hours
Mon. - Thurs.: 8:30 a.m. to 4:30 p.m.
Fri.: 8:30 a.m. to 6 p.m.
Kupuna Service Mon. - Fri.: 8:30 a.m. to 9 a.m.
Contact:
Phone Numbers
Main Number: (808) 930-7700 Toll-Free: (800) 514-2328 TTY: (808) 329-8192
Lost/Stolen VISA®
During Business Hours: (808) 930-7700 After Hours: (833) 933-1681
Mailing Address
73-5611 Olowalu Street Kailua Kona, HI 96740
History of Hawaii Community Federal Credit Union:
Hawaii Community Federal Credit Union has been around since the Great Depression, in fact as noted on their website, The Credit Union was formed by ten struggling coffee farmers in the midst of the Great Depression after banks refused them loans and services. The Kona Farmers Federal Credit Union started as a one-room operation to support their needs for loans and additional financial services. Within three years the Credit union had expanded to include members of the local community and this is when (1939) they changed the name to the Kona Community Federal Credit Union.
Kona Community Federal Credit Union then merged with Kohala Federal Credit Union in 1982, further expanding their foothold on Hawaiian Island. Finally, in 1992, the credit union changed its name to become Hawaii Community Federal Credit Union, a name still used today. The Credit Union has continued to expand its membership while also supporting the community they serve. Today HCFCU has over 44,000 members and over $715 million in Assets; ibanknet.
About Community Credit Unions:
Are Community Credit Unions Better vs Banks?
Community Credit Unions are local banks that provide financial services to smaller communities and tend to be better than major banks for several reasons which include:
Better rates on savings accounts and certificates of deposits.
Competitive mortgage rates.
Fees tend to be lower at community credit unions.
Local deposits are used to make loans to local businesses.
Community Credit Unions tend to have a better understanding of the communities they serve.
Community Credit Unions tend to have a more personalized customer service experience and have higher customer satisfaction rates.
Community Credit Unions provide local jobs and support local charities.
Notes:
1. The National Credit Union Administration (NCUA) is one of two agencies that provide deposit insurance to depositors in U.S. depository institutions. NCUA's standard maximum share insurance amount at $250,000.00.
2. Periodically Mysmallbank.com will name a credit union as a top choice (Top credit union) based on several criteria such as customer and employee reviews, complaints, satisfaction, growth, locations, brand, and social responsibility. We only select the best credit unions, so they must meet minimum standards of excellences (Excellent Choice) to be reviewed by Mysmallbank.com
In Review is a segment of the MySmallBank.com blog written by Allan R Kirby, who writes and produces Personal Finance articles and videos.
Disclosure: mysmallbank.com nor the author received any compensation from the mentioned credit union for this article. Hawaii Community FCU routing number 321379818, NMLS number: 440567. The article is our opinion only and is written to help readers learn more about local credit unions. #creditunions #hawaii #bigisland #money #autoloans #creditcards #rates