Hawaii Community Federal Credit Union: Empowering Homeownership and Small Business Growth

Hawaii Community Federal Credit Union has been a driving force in empowering homeownership and small business growth in the islands. The credit union offers mortgage financing options to help first-time homebuyers achieve their dream of owning a home.

With a focus on community development, the credit union provides financial education and resources to its members, helping them make informed decisions about their financial futures.

The credit union's mortgage financing options include low-interest rates and flexible repayment terms, making it easier for people to purchase a home.

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At Hawaii Community Federal Credit Union, you can enjoy competitive rates and low payments for all their real estate loan options. With no points for most loans, you can save money upfront.

Their personalized service makes a huge difference, especially when you need help. If something goes wrong or you're having trouble paying, you can call a real person who knows your name and family.

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HCFCU services most of their loans in-house, which means they have more flexibility with different property and borrowing situations. They can consider each member's loan application individually, rather than using a standard checklist.

Their free checking account is a great option for basic banking needs. It comes with no minimum balance requirements and no monthly service fee.

With their e-services, you'll have access to all the tools you need to manage your account.

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Hawaii Community Federal Credit Union offers a range of services and tools to its members.

You can contact the credit union through various channels, including a toll-free number (800-514-2328) and a main number (808-930-7700).

The credit union is open on weekdays from 8:30 a.m. to 5 p.m., with extended hours on Fridays until 6 p.m.

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Hawaii Community Federal CU understands the importance of supporting local businesses on Hawaii Island. They provide business loans that are flexible to meet the businesses' plans.

These loans offer affordable rates, ensuring that small business owners can access the funds they need to grow and thrive. Quick approval and closings are also guaranteed, allowing businesses to get back to work quickly.

Some examples of small business loans provided by the credit union include:

A Home Equity Line of Credit (HELOC) can be a game-changer for homeowners in need of financial flexibility. The HCFCU HELOC offers credit lines up to $500,000.

This loan can be used for various purposes, including remodeling, education expenses, and debt consolidation. You can access these funds as needed, making it a great option for unexpected expenses.

The HCFCU HELOC comes with four options for low rates, providing members with a range of choices to suit their needs. This flexibility can help take the stress out of the mortgage loan experience.

The credit union's focus on personalized lending options is a key part of its mission to provide security and support to its members. This approach is evident in the way they work with members to understand their unique financial situations.

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For example, Minerva Villanueva, a single mom of two, found the credit union's support to be invaluable as she worked to save for her home's construction. She appreciated the ease of reaching out to the credit union and the personalized help she received.

At HCFCU, relationships are valued over just finding the best deal. As De Luz explained, "At the end of the day, I feel more comfortable calling someone who knows me." This approach can make a big difference in how you feel about your financial institution.

ACH transfers take a few business days to complete, going through a central network for verification, and are generally free or very low-cost.

One of the biggest advantages of ACH transfers is that they're perfect for regular bill payments or direct deposits.

If you need to move money quickly, wire transfers are the way to go, zipping directly between banks often on the same business day, sometimes even instantly.

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Wire transfers come with a fee, typically ranging from $25 to $50, which can be a drawback for some users.

For urgent transactions or international transfers that ACH can't handle, wire transfers are the ideal choice.

In contrast, ACH transfers are better suited for low-priority transactions where speed isn't a top concern.

Overall, understanding the difference between ACH and wire transfers can help you make informed decisions about how to move your money.

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Finding your routing number online can be a breeze, and I'm here to walk you through the process.

You can find your routing number on a website that lists routing numbers for major banks in the US.

If you have an online banking account, you can simply log in to retrieve your bank's routing number.

A bank-issued check or bank statement is another place to look for your routing number.

The official website of the Federal Reserve, Fedwire, is also a reliable resource for looking up your routing number.

Hawaii Community Federal Credit Union has selected PSCU for credit and debit card processing support and services.

PSCU is the nation's premier payments credit union service organization (CUSO), providing robust solutions to credit unions.

With over $809 million in assets, HCFCU was searching for a reliable and secure debit and credit card program to serve its 46,600 members.

PSCU will begin providing credit and debit processing services and support to HCFCU members in February 2023.

This partnership will enable HCFCU to elevate and enhance its card programs, providing a high-quality member experience.

HCFCU was drawn to PSCU's level of innovation and resources, which aligns with the credit union's commitment to empowering and serving its community.

PSCU's dedication to providing the highest caliber of service resonated with HCFCU's values, making it an ideal partner for the credit union.

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To be eligible for membership at the Hawaii Community Federal Credit Union, you must live, work, worship, attend school, or volunteer on Hawaii Island. This includes your immediate family members or household.

Immediate family members are defined as grandparents, parents, step-parents, spouse, siblings, step-siblings, children, adopted children, step-children, and grandchildren of a current member or potential member.

Businesses and other legal entities located on Hawaii Island are also eligible for membership. This means if you own a business on the island, you can join the credit union.

Immediate family members who don't live on the island can still join if they're related to a current member. And, if you live with someone who's already a member, you're eligible to join too, even if you don't live on the island.

Here's a breakdown of the types of relationships that qualify for membership:

Additionally, if you live in the same household as a current member, you're eligible for membership, even if you don't live on the island. Household is defined as people living in the same home and sharing a single economic unit, including family members, domestic partners, foster children, and legal guardians.

Hawaii Community Federal Credit Union has a rich history that dates back to the Great Depression. It was formed by ten struggling coffee farmers who were refused loans and services by banks, and they started a one-room operation called the Kona Farmers Federal Credit Union.

The credit union quickly expanded to include members of the local community, and by 1939, it had changed its name to the Kona Community Federal Credit Union. This was just the beginning of the credit union's growth and evolution.

In 1982, the credit union merged with Kohala Federal Credit Union, further expanding its reach on the Hawaiian Islands. This merger marked an important milestone in the credit union's history, paving the way for its future growth and success.

By 1992, the credit union had changed its name to Hawaii Community Federal Credit Union, a name that still holds today. This name change reflects the credit union's commitment to serving the broader community, not just its original members.

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Today, Hawaii Community Federal Credit Union has over 44,000 members and over $715 million in assets. Its history is a testament to the power of community and the importance of financial cooperatives in supporting local economies.

Here are some key dates in the history of Hawaii Community Federal Credit Union: