Hawaii State FCU Sees Solid 2015 Growth in Loan Balances, Net Income, Assets and Membership
HONOLULU — Hawaii State Federal Credit Union (Hawaii State FCU) announced today year-end numbers that saw major growth in loan balances, net income, assets and membership.
For the 12-month period ending Dec. 31, 2015, Hawaii State FCU reported:
- $663.0 million in loan balances, a 23.6 percent increase from $536.2 million in 2014
- $7.49 million in net income, a 66.4 percent increase from $4.50 million in 2014
- $1.406 billion in assets, a 4.0 percent increase from $1.352 billion in 2014
- 90,096 total members, an 8.3 percent increase from 83,191 in 2014
“Our strong member growth demonstrates that people recognize the value of the products and services we have to offer, including our loan products and digital banking solutions,” said Andrew Rosen, president and CEO of Hawaii State FCU. “Our focus in 2016 will be on continuing to provide stellar customer service to our member-owners, while developing new and innovative solutions such as our mobile apps to give them greater access and security to their accounts.”
As the largest credit union lender in the state, Hawaii State FCU continues to generate more loan volume than any other local credit union. Other major milestones over the year included:
- The introduction of Apple Pay to process mobile credit card payments.
- Receiving an innovation award from a leading national credit union services organization for implementing the state’s first EMV (Europay, Mastercard and Visa) smart chip card program.
- Thousands of downloads for its free suite of three mobile apps for online banking, managing debit and credit card transactions and protecting accounts from fraud.