HONOLULU — Hawaii State Federal Credit Union (Hawaii State FCU) experienced growth across the board in the third quarter of 2018 and also enjoyed its 20th consecutive quarter of loan growth, maintaining its position as the state’s No. 1 credit union lender.
As of Sept. 30, 2018, Hawaii State FCU reported:
- Loans increased by $106.2 million (12.8 percent) over the previous year to $936 million for the 12 months ending Sept. 30, 2018.
- Assets increased $58.3 million (3.8 percent) to $1.579 billion for the 12 months ending Sept. 30, 2018.
- Year-to-date net income was $9.3 million, an increase of $4.9 million (112.1 percent) over the previous year.
- Membership grew by 6,229 (6.3 percent) over the previous year to 105,342 for the 12 months ending Sept. 30, 2018.
As a not-for-profit financial cooperative that prides itself on offering members better rates and lower fees, Hawaii State FCU is continuously looking for ways to give back to its 100,000-plus members to help them save and earn more money.
“Credit unions worldwide last week celebrated International Credit Union Day, but we have something to celebrate every day,” said Andrew Rosen, president and CEO of Hawaii State FCU. “We’ve enjoyed a record 34 percent increase in membership over the past five years and we attribute this accelerated growth to members recognizing the value we provide, from better rates and lower fees, to the free resources and tools to help them make smarter financial decisions.”