What is a Credit Union?

Many of you may have grown up with HFS, either as a member or you know of someone who is. You may have visited a branch with your ‘ohana as a child or driven past a branch as an adult. HFS has been around for quite some time. Our humble beginnings started on January 4, 1937, with nine individuals who shared a common bond; the need for credit to be available to those of small means. For over 85 years, we have grown tremendously thanks to the Big Island community for their continued trust and support.

What makes credit unions, like HFS, unique is that we are not-for-profit organizations that serve members and communities. We are member-owned and governed by a board of volunteers elected by its members. Credit unions operate with the philosophy of “People Helping People.” You may be asking yourself, what is the difference between a credit union and a bank? The most significant difference is that banks are profit driven and owned by shareholders. They are governed by a compensated board comprised of majority stockholders. Banks and credit unions tend to offer the same products and services, but credit unions often charge less fees. As a not for-profit institution, credit unions use any profits made to provide lower interest rates on loans and higher interest rates on savings for their members. This circles back to that philosophy of “People Helping People”.

Each month throughout 2023, we will help educate our membership and community on what it means to be a credit union. We’ll focus on a different word each month and how that word relates to HFS. Check it out below!

  • January – ‘Ohana
  • February – Community
  • March – Not-for-Profit
  • April – Where Caring Counts
  • May – We are your trusted financial partner
  • June – Meaningful Membership
  • July – Available
  • August – Generational
  • September – A lifetime of solutions


A lifetime of solutions.

We look out for the best financial interest of everyone we serve.  HFS is committed to finding solutions that put our members, employees, and communities first.


Serving members one generation at a time.

From keiki to kupuna, we promise to nurture every member relationship and foster generational financial growth.


Available.  Wherever, whenever you need us.

We offer banking on-the-go with convenient services available at your fingertips.


Meaningful Membership.

As a member owner, you are a partner in our commitment to people helping people.


We are your trusted financial partner.

We grow with you, offering tools and personalized support for every stage of life.  From keiki to kupuna, we’re here to help.


Where Caring Counts.

We foster a culture of caring where our members come first.  We listen intently, understand deeply, and guide our members to success.


For Members, not for profit.

As a credit union, and not-for-profit institution, our profits go back to our members in the form of lower loan rates, higher savings rates, and less fees.


Building communities by doing the right thing.

As a member at HFS, you are part of a larger community of people who share a common bond – your credit union!  We strive to build this community as an extension of ourselves, with honesty and transparency.


You are more than just a member, you are ‘ohana.

We take pride in showing our members that they will always be welcomed and treated like family.  As a credit union, we are consistently keeping our members at heart.

Not a member yet? Visit any branch location to become a member today.  For any questions, please contact us at (808) 930-1400 or toll-free at (800)216-2666.


6 replies to “Credit Union Awareness

Lyle Cabacungan

I like your the statements you made here. Can I trust you? You say Ohana, do the right thing, and not for profit. What’s in your plan for your members? What can you do for me? Concern member 😊🙏🏽


Posted by: Annie

Aloha Lyle – thank you for your comment! We live by our core values of Care, Humility, Integrity, and Passion. Rest assured that you can trust us as your financial partner. We put our members first in everything that we do.

Jamie Kaonohi

I Love Hfs fcu because I have received excellent service with a smile . I have been a member since 2002. I am extremely satisfied with the level of excellence your organization gives me. Mahalo


Posted by: Annie

Aloha Jamie – Mahalo for your kind words. We’re so happy you’re part of our ‘ohana!

Rick Casey

I really like HFSFCU but…. I’m disappointed with the interest rate yields on my accounts. This will keep me shopping for a different bank. Currently these rates are listed at 0.15% on savings and 0% on checking.
Fortunately for us we are not in need of loans so while HFSFCU keeps rates competitive on loans, this doesn’t benefit us. The FED has raised rates 8 times in the last year. The stock market is depressing, and your patrons need safe places to park their money. I want to give this to HFSFCU, but those savings rates aren’t competitive and frankly don’t even seem fair.


Posted by: Annie

Aloha Rick – thank you for your comment. HFS strives to offer dividend rates that are competitive with other local financial institutions. We encourage you to check out our Money Manager Account option, which does offer a higher dividend rate with a minimum balance requirement, but still offers the flexibility to withdraw funds as needed. Check out that account here: https://hfsfcu.org/savings-accounts/money-manager/#panel-1. Please call us at (808) 930-1400 if you have any questions. Mahalo!

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