What is a Credit Union?

A credit union is a group of people, sharing a common bond of association, who save together and make low cost loans to each other. The combined savings deposited becomes the source of loan funds for members. Any profit generated is returned to the members in the form of dividends and services. Your credit union is owned by its members and operated only for their benefit.

How the Credit Union Operates

Members own and control the credit union through its elected Board of Directors. During the first quarter of each year an annual meeting is held where directors are elected, concerns expressed, and financials reviewed. Your opinions matter at Hawaii Central. Attend the meeting and be a vital force in the growth of your credit union. Look in your newsletter (usually found in the 1st Quarter edition) for annual meeting details.

Safety

National Credit Union Administration (NCUA) - Each member's total deposits are federally insured up to at least $100,000 and backed by the full faith and credit of the United States Government. In addition, Hawaii Central is examined annually by the Department of Commerce and Consumer Affairs of the State of Hawaii, an independent Auditor, and by your Supervisory Committee.