Hawaii has its own federal credit unions to serve the people of Hawaii with checking accounts, loans, savings accounts, and more. These credit unions purpose is not to make big profits for investors but to provide the people of Hawaii with affordable interest rates, friendly service, and to encourage savings and thrift. When someone needs a loan such as a car loan, home loan, or Holiday Loan they can go to their neighborhood credit union to apply for the money they need. When people want to save money for future education or retirement they can also go to their friendly local credit union.
Credit unions are different than banks in that they operate on a membership basis and answer to their members where banks answer to their investors and board of directors. To join a credit union, a person opens a regular savings account with at least $5.00 and pays a $1.00-lifetime membership fee. The person must live, work, worship, or attend school in the membership area of the credit union. A credit union such as Pearl Hawaii Federal Credit Union on the island of O’ahu would have that island as their membership base. Families and household members of people living on O’ahu can also join. Credit unions are more invested in their communities than commercial banks may be. Members and their problems and needs are important to credit unions.
Some of the services a member can find at a credit union in Hawaii are savings accounts of several types, checking accounts, loan services, debit and ATM cards, notary services, coin sorting machines, safe deposit boxes, official checks, and emergency assistance options. There are also money orders, online banking services, wire transfer of funds, travellers checks, and much more. When a person joins a credit union, a friendly customer service representative will explain all the available services that credit union has available to members and how to access them. It is easy to check savings account and checking account balances either on the phone or online any time. When the holidays sneak up on a person and they need extra money, credit unions may offer a Holiday Loan. For more information, please visit the website. You can connect with them on Facebook for more updates!
