Do you know Hawaii has one of the highest concentrations of credit union members across the U.S.?
It’s 62 percent of the state’s population to be exact.
In today’s financial landscape, there is no shortage of options when it comes to banking services. From credit unions and traditional banks to Internet banking, where is the best place to bank?
Credit unions offer lower loan rates, higher savings rates and lower fees than traditional banks because it’s a not for profit. In addition, Hawaii credit unions excel in providing member benefits on car loans, home equity loans and credit card loans. Simply put, credit unions give back to members and their value can’t be rivaled because they are not accountable to shareholders.
Credit unions have been around in Hawaii for more than 80 years, and it started with the concept of tanomoshi, or “people helping people,” where people pooled their savings to give loans to their neighbors and co-workers.
At Hawaii State FCU, this people-helping-people philosophy continues to define us today. When we profit, our earnings are returned to you in the form of lower fees and better rates, such as our Relationship MAX savings account that offers a 1.50% APY* – a rate that can’t be matched at any other financial institution in Hawaii.