Hawaii State FCU’s Loan Products Drive Membership Growth in Third Quarter

October 19, 2016

HONOLULU — Hawaii State Federal Credit Union (Hawaii State FCU) saw its membership climb to more than 95,000 in the third quarter of 2016, an increase of more than 7,000 new members from the same quarter last year.

New and existing members continue to choose Hawaii State FCU’s low-interest mortgage loans, home equity lines of credit, personal loans and lines of credit, enabling the credit union to maintain its position as the No. 1 credit union lender in the state.

“I couldn’t be more pleased with the confidence these 7,000 new members and all of our members place in us,” said Andrew Rosen, president and CEO of Hawaii State Federal Credit Union. “Our competitive loan products with attractive rates continue to be a draw for us along with best-in-class technology that gives members more conveniences when managing their accounts.”

For the three-month period ending Sept. 30, 2016, Hawaii State FCU reported:

  • $704.3 million loan balance, a 9.1 percent increase compared with $645.7 million from the same quarter last year.
  • $1.46 billion in assets, a 5.4 percent increase compared with $1.39 billion from the same quarter last year.
  • Net income flat at $1.50 million, a less than 1 percent decreased compared with $1.51 million from the same quarter last year.

In September, Hawaii State FCU celebrated the grand opening of its ninth branch in Hawaii Kai, serving more than 9,500 members living in East Oahu. Later this year, the credit union will complete renovations at its Pearlridge branch, which will incorporate the latest financial services technology while offering an open, comfortable member environment.

“Our members appreciate the added convenience of our expansion to East Oahu, where our branch staff is available to provide personalized service and financial guidance based on their needs,” Rosen said. “We look forward to enhancing the in-branch experience with a complete redesign at Pearlridge, one of our busiest locations, serving 16,000 members in Aiea and Pearl City.”

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