History of HawaiiUSA Federal Credit Union
Our Credit Union opened its doors on November 6, 1936 as Oahu Teachers No. 3 Federal Credit Union. Our field of membership was comprised of elementary school teachers of schools in the Honolulu District, as well as teachers of schools of all grade levels in what was then called "rural" Oahu. Over the years, our credit union benefited from the tremendous growth of population and the corresponding expansion of the school system in the Leeward, Central and Windward districts.
Our Credit Union ended its first year of operation with 138 members and assets of $4,499. We have since grown into the largest credit union in Hawaii by asset size of more than $1 billion and membership with more than 128,000 members being served through 10 branch locations on the Islands of Oahu and Maui.
The membership has changed to include not only teachers, but also principals and the other school employees; such as, secretaries, counselors, cafeteria workers, volunteers and janitorial staff. Employees of all schools (not only elementary) outside the Honolulu school district. Students and parents are also eligible to join.
In 1971, our name was changed to Oahu Educational Employees Federal Credit Union.
For many years, the membership remained predominately teachers and school oriented, providing a stable yet maturing base. There were several amendments to our charter expanding the field of membership to its current approved positions, which includes more than 3,000 Select Employee Groups (SEGs). A significant membership amendment occurred when the definition of immediate family member was revised to include those living outside of the household.
On February 23, 2000, the Board of Directors approved to change our name to HawaiiUSA Federal Credit Union. This process of a name change was important not only to accurately reflect the changes in our membership but also to gain a marketing advantage for membership expansion. Although our core membership and focus remains with the educational community, the passage of legislation by Congress which allowed HawaiiUSA FCU to aggressively seek membership expansion through Select Employee Groups. After months of planning and personifications, the conversion to our new name was completed on July 1, 2000. Now, our new name better depicts our current field of membership and lays the foundation to provide service to our members statewide and possibly nationwide.
HawaiiUSA FCU continues to be committed to giving back to the communities we serve resulting in the formation of the HawaiiUSA FCU Foundation (the "Foundation"). The mission of the Foundation is to strengthen the Hawaii communities in which HawaiiUSA FCU operates.