Hawaiian Financial Federal Credit Union Information

Since its charter in 1936, the mission of Hawaiian Financial Federal Credit Union has been to provide quality products with outstanding member service. HiTel FCU formed out of an idea from Mutual Telephone Company employees. On October 22, 1936, 65 employees signed on as charter members with assets totaling $2,517, calling themselves Mutelco Oahu Employees Federal Credit Union. The credit union operated with no paid staff and early volunteers had to sandwich in credit union work with their regular jobs. In 1937, after the first full year of operation, a 6 percent dividend was declared. Two years later in 1939, the credit union expanded to include the Neighbor Islands and dropped the word Oahu from its name. In 1954, the credit union changed its name to Hawaiian Tel Employees Federal Credit Union. In the following year, after 19 years of operation, the $1 million mark in assets was reached. By 1961, less than 6 years later, assets had risen to $2 million. As the Credit Union continued to grow and flourish, the Credit Union broke away from the phone company and became its separate entity. On April 1, 1971, the credit union operated under its own management and credit union employees were no longer employed by the phone company. The field of membership was maintained where anyone who worked at Hawaiian Tel, their relatives, household members, adopted or fostered children were able to join the credit union. The Credit Union expanded services to five days a week in 1975. Share Draft accounts and Line of Credit loans were started in 1980 and in 1981 the check disbursement system was augmented by the implementation of cash share withdrawals. This same year also saw the introduction of IRA accounts and Share Card ATM access. Assets were now up to $23.7 million. During the 1980s, Hawaiian Financial Federal Credit Union continued to evolve into a full service provider by keeping quality member service its focal point. Services, products and programs were developed and implemented to meet the growing and changing needs of the membership. In 1999, HiTel FCU changed its field of membership to serve Oahu's community and their families. Since 1999, membership transformed from an employer base to a community base charter. This charter change allowed everyone who works, lives, worships, or do business on Oahu and their immediate families to become members. The credit union has grown to become the largest community based credit union in the State and the preferred merger partner for15 valued credit unions. On August 31, 2018 the credit union changed its name to Hawaiian Financial Federal Credit Union. This name change better reflected the diverse membership base the Credit Union served and its services offered. Today, Hawaiian Financial Federal Credit Union is the 4th largest credit union in Hawaii with over $628 million in assets and 59,000+ members. Hawaiian Financial Federal Credit Union continues to be guided by its mission statement of, "We are people helping people make their dreams come true".