HONOLULU — After years of strong membership growth, Hawaii State Federal Credit Union (Hawaii State FCU) officially reached a milestone of 100,000 members at the end of 2017 and close of its 80th anniversary year. President and CEO Andrew Rosen celebrated with surprise visits to the branches to deliver bags of kettle corn to each employee and thank them for their work.
Membership increased by 47 percent in a decade, from 68,308 members in 2007 to 100,214 members in December 2017.
“It’s been a great privilege to serve the people of Hawaii for more than 80 years, from our plantation-era roots as a financial cooperative to an institution continuously evolving to meet the needs of our members,” Rosen said. “We’re incredibly proud our members value their credit union membership knowing they can trust us for personalized attention with all of their financial needs.”
Hawaii State FCU saw its highest year-over-year membership gain between 2014 and 2015, when it added a record 6,095 members (an 8.3 percent increase) following the launch of its “Always Right By You” rebranding campaign. The credit union enjoyed another boost in membership between 2016 and 2017, adding 5,519 members (a 5.8 percent increase) during its 80th anniversary year.
Hawaii State FCU attributes its growth in membership, loans and assets to a number of new initiatives introduced over the last several years. A focus on technology and innovation led the credit union to offer mobile apps designed to provide members with enhanced security, convenient account access and the ability to conduct transactions at the touch of a button. More than 26,000 HSFCU Mobile App and Credit Card App downloads have been made to date. Hawaii State FCU was the first credit union to offer in-branch Tech Centers equipped with mobile devices to educate members about using mobile banking technology to manage their personal finances.
New loan products, including a first-time homebuyers’ program, a unique loan combining a first mortgage with a Home Equity Line of Credit to provide zero-down financing, solar PV and small-business loans, contributed to the credit union’s loan portfolio growth of more than 50 percent over two years. Hawaii State FCU is the state’s largest credit union lender and the fastest-growing credit union in Hawaii.
“Our members look to us as their financial partner. We provide excellent service and innovative products that meet member’s needs at every stage of their lives, from depositing their first paycheck to buying their first home to planning for a comfortable retirement,” Rosen said. “It’s our commitment to being right by our members that has been a major factor in our success over the last few years. And we look forward to continuing to be there for our members for many more years to come.”