; Helping Our Ohana - Hawaii Central Federal Credit Union

NOTICE: Our offices will be closed on Monday, May 27th in observance of Memorial Day.

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Congratulations Kira! You Won a $100 VISA Gift Card!

Much thanks to all who entered our drawing for National Credit Union Youth Month by submitting a coloring page. Congratulations to Kira, who submitted a coloring page and won our drawing for a $100 Visa Gift Card.
When asked about how she feels about saving, she informed us that she has already saved about $400 and said, "I'm saving for college."
Kira's Grandmother, Molly is a member of Hawaii Central Federal Credit Union and understands the importance of teaching the next generation about smart money management. Our drawing gave her and other grandparents/parents a fun way to engage with children on the subject. Although she says she encouraged all of her grandchildren to submit an entry, Kira was the only one who entered.
"I spent two days coloring this," said Kira who added that it was difficult choosing colors.
While the winner was chosen by random drawing, we must say that if it was based on color theory and effort, Kira's vibrant entry was a top contender!
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HONOLULU, HI—Hawaii Central Federal Credit Union (FCU) presented the Chaminade Women’s Softball Team with a check for $5,000.00 before their game against Academy of Art on April 7, 2024.

“Studies have shown the positive impact sports have on the lives of students, both on their grades and their self-esteem,” said Hawaii Central FCU President Drake Tanabe who knows the difficulties of being a student athlete. “The ladies work so hard. Many participate in the program for little more than the love of the game, an example set by Coach Kent [Yamaguchi].”

“I’m proud of the team both on and off the field,” said Coach Kent who commented that the ladies understand academics are as important as the game and participate in community events whenever chances arise.

Coach Kent has volunteered his time coaching Chaminade Women’s Softball for nearly 20 years and his dedication shines through with his winning track record, unmatched at the school. In 2023, the team led the Pacific West Conference, set a school record with 24 triples, and ranked fifth in NCAA Division II with a 0.52 per game average. With 22-24 record and 14-17 conference win totals, the most since 2013, the team had a successful season that culminated in a record—six All-PacWest selections.

Caption: Hawaii Central Federal Credit Union Presents Chaminade Women’s Softball Team with a $5,000 Check. Executive Vice President Gary Nakata, President Drake Tanabe, and Community Relations Officer Amber Milsap are pictured here to the left of the Team and Board Director Ariel Chun and Marketing Manager Travis Uchino on the right.

About Hawaii Central Federal Credit Union
Hawaii Central Federal Credit Union is currently recognized by FORBES as one of the top three Credit Unions in the State of Hawaii. Founded in 1937, Hawaii Central Federal Credit Union is a member-owned, not-for-profit financial institution serving over 17,000 members and has over $300 million in assets. Membership is open to all individuals who live, work, worship or attend school on Oahu. Businesses and other legal entities on the island are also eligible for membership.



HONOLULU, HI—Hawaii Central Federal Credit Union (FCU) will be holding their 86th Annual Meeting on March 23, 2023, at the Japanese Cultural Center. The theme this year is Back to the Basics and longstanding commitments of the credit union. In addition to focusing on the needs of Hawaii Central FCU members, that means supporting the community and economy where members live, work, worship and attend school.

As a part of their commitment to their members and community, Hawaii Central FCU teamed up with Lanakila Pacific in support of the organization’s mission to build independence and improve quality of life for individuals with cognitive, physical, social, or age-related challenges. With a long and storied history of serving the community, the partnership with Lanakila Pacific is just one example of Hawaii Central FCU’s dedication to put people first.

Members attending the Hawaii Central FCU annual meeting will enjoy lilikoi bars and haupia pie from Lanakila Kitchen. They will also walk away with a custom tote bag printed by Lanakila Custom Products. And, in the spirit of Aloha for the community we share, Lanakila Pacific is making a gracious donation, by way of some tasty treats, for raffle giveaways at the Hawaii Central FCU annual meeting.

“Lanakila Pacific plays a crucial role in fostering economic growth and opportunity here on Oahu. The work they do through their kitchen, disability services, meals on wheels, and custom products programs aligns perfectly with our mission to empower our members and invest in the local economy,” said Hawaii Central FCU President Drake Tanabe.

Last year, Lanakila Pacific’s Employment Services helped 186 adults with disabilities, high school students and youth; 37 successfully completing a training program, and 28 adults with disabilities placed in competitive employment.

“This year marks Lanakila Pacific’s 85th Anniversary. We are honored to collaborate with them as a part of our mission to support our local community,” Tanabe added. “At HCFCU, we believe in the
power of our `ohana (family) working together. By supporting our local economy and Lanakila Pacific, we’re doing more than just helping individuals; we’re building a stronger future for all of Hawaii, together.”

To round out efforts to support our local economy, along with the tote bag from Lanakila Pacific, members will take home gifts purchased from Big Island Bees, Aloha Edibles, Som’ Good Seasonings, and Mari’s Gardens.

About Hawaii Central Federal Credit Union
Hawaii Central Federal Credit Union is currently recognized by FORBES as one of the top three Credit Unions in the State of Hawaii. Founded in 1937, Hawaii Central Federal Credit Union is a member-owned, not-for-profit financial institution serving over 17,000 members and has over $325 million in assets. Membership is open to all individuals who live, work, worship or attend school on Oahu. Businesses and other legal entities on the island are also eligible for membership.

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April is Credit Union Youth Month:

Help young ones learn about financial literacy by exposing them early to the idea of sound money habits. Wondering where to start? Here are a few ideas to help get you started:

Earning Money:

This fundamental concept helps them understand the value of money and the effort needed to earn it. Encourage them to earn money by doing house chores or other jobs around the house.

Setting Savings Goals:

Help them plan for things they want to buy, like a new toy or game. A simple piggy bank and writing down how much they have saved versus how much they need will help! They can also open a savings account at the credit union and learn to start banking.

Counting Money:

Instill money-counting skills using different coins and notes. Depending on their age, introduce them to various payment methods, including cash and mobile payments, explaining how each transaction is completed.

Charity and Gifts:

Encourage them to spend part of their money on charity or buying presents for friends, fostering a sense of generosity and community belonging.

Delayed Gratification:

Teach them the value of hard work and the benefits of saving for something they want rather than making impulse purchases.

By incorporating these money lessons into your child's routine, you can pave the way toward their financial success. Better yet, get them started with their very own savings account at the credit union!

Count those Coins!

We have our own in-lobby coin counting machine.  Located in the main branch lobby, members may bring in coins and deposit them or trade them in for dollar bills at no charge once per month.



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Enter our Drawing!  

Download a coloring sheet, have fun coloring, and submit by April 30th to enter our drawing for a $100 Visa gift card. See full contest rules here.



Hawaii Central Federal Credit Union Staff Volunteers Support Maui Fire Victims

International Credit Union Day 2023

We celebrated International Credit Union Day on October 19th. This year, in celebration of International Credit Union Day, we are running an 11-month Share Certificate with a special 4.75% APY*. This is a limited time offer, so hurry in if you want to take advantage. Feel free to share information on the special rate with friends and family who could use the boost!

In addition to hearing about the Share Certificate, members who visited our branch this year were greeted at the door and presented with a tasty treat and encouraged to take a selection of promotional items with them.

International Credit Union Day (ICU Day) exists to raise awareness and celebrate what makes credit unions unique: a mission to bring financial inclusion and well-being to people all over the world.

Since its inception in 1948, International Credit Union Day has been celebrated through outreach, volunteering, fundraising and other activities. In 2023, we mark this celebration’s historic 75th anniversary. This milestone offers us the unique opportunity to acknowledge the tireless effort of credit union employees while celebrating members the world over. [Cuna.org]

*APY: Annual Percentage Yield. APY is accurate as of September 14, 2023. Earn 4.75% APY for a 11-month term certificate. APY is subject to change at any time without notice. Fees may reduce earnings. Penalties may apply for early withdrawals. Minimum $1,000 deposit requirement to open a personal account. Minimum $25,000 deposit requirement to open a business account. All funds used to open the 11-month certificate account must originate from another financial institution. See Truth-in-Savings disclosure for more information.


Hawaii Central Federal Credit Union Supports the Institute for Human Services as they Celebrate their 45th Anniversary

June 13, 2023

Honolulu, Hawaii –In response to concerns highlighted in the new report by UHERO, a group of staff volunteers from Hawaii Central Federal Credit Union (FCU) volunteered their time at the Institute of Human Services (IHS), intending to help with getting much-needed meals out to the homeless community on Oahu.

The UHERO report entitled The Hawaii Housing Factbook, documented that Hawaii has the fourth highest homelessness rate in the United States. According to the report, fewer than one third of households in Hawai`i can afford the typical local home.

Celebrating 45 years of service with the help of the community, IHS Executive Director Connie Mitchell said, “The spirit of volunteerism by HCFCU is the kind of community involvement that made a huge difference back when IHS first started and is key to us keeping our doors open and people fed. Current staff shortages mean a volunteer might be the one that ensures a guest receives dinner or gets their pillow and blanket for the night."

Many of these guests had been living on the streets of Oahu without access to cooking facilities and unable to meet their basic daily needs before entering the shelter for respite. The team made time after work over the evening of July 11th and returned after work last evening to serve up a hearty chicken dinner, courtesy of IHS. The team also helped to prep breakfast for this morning.

“It was a very humbling experience,” said Hawaii Central FCU Consumer Loan Officer and volunteer Jorge Phillip Lafedez.

Hawaii Central Federal Credit Union Presents HUGS with a Check

August 1, 2023

Honolulu, Hawaii – HUGS Executive Director Amy Morton-Sogi and Development Director Alex Wereszczynskyj stopped by the Hawaii Central Federal Credit Union (FCU) Main branch on King Street where they were presented with a check in the amount of $1,052.00. Last week, a team of ten staff volunteers cooked up some local favorites for co-workers in exchange for a fifteen-dollar donation. The team sold 51 plate lunches, and presented 100% of the proceeds to HUGS, yesterday afternoon.
Morton-Sogi said, “We support families with seriously ill children to provide both emotional and financial support to local families.” Monthly programs include mom’s and dad’s nights, family events and respite activities for HUGS kids and their siblings.
Quite surprised by the outpouring of love, Wereszczynskyj asked how Hawaii Central FCU chose HUGS. Employee group member Kien Bayawa explained it was a group decision. After selecting five non-profit organizations, each member of the group reviewed their missions and a general overview of their activities, and the “majority of the team voted for HUGS.”

Hawaii Central Federal Credit Union Volunteers Raise Funds to Support HUGS

July 26, 2023

Honolulu, Hawaii – In an effort to raise money for the non-profit HUGS, a group of 10 volunteers with Hawaii Central Federal Credit Union (FCU) took to the kitchen to cook up some local favorites for co-workers in exchange for a $15 donation. One Hundred percent of the proceeds will support the HUGS of Hawaii mission to help families with children diagnosed with life-threatening conditions like cancer, respiratory illnesses, diabetes, and stroke.
“Donations will help children and parents with respite,” said group member Kien Bayawa. “The money will also be put towards programs to help families facing an unforeseen crisis or challenge.”
The team sold 51 plates to their coworkers who chowed down on a plate lunch that included Morcon (Filipino-style Meat Loaf), BBQ Chicken, Taegu, Spring Rolls, Rice, Pancit, Mac Salad, Banana Lumpia and a drink. With only 39 employees working at Hawaii Central FCU, the team more than reached their goal of 100% participation.

College student with purple backpack and book walking to campus

Working to Fight Low College Enrollment
with the Student Choice Student Loan Program

Having passed the June 30th deadline to complete the Free Application for Federal Student Aid (FAFSA), late applicants for federal financial aid should be receiving their award letters from colleges and universities and will know whether they will need additional funding through a private student loan program like the Hawaii Central Federal Credit Union (FCU) Student Choice Student Loan Program.

The Student Choice Student Loan Program can help fill funding gaps left after students apply for federal student aid to fund their 4-year undergraduate degree. Before Hawaii Central FCU can help, however, students must have filled out the FAFSA for the year in which they are applying to determine whether there is a gap. Once that process is complete, we are here to help when federal student aid is not enough to make the dream of higher education and lifelong career goals a reality. 

The application process is easy; and once approved, the funding renews yearly over the 4-year term through a revolving line of credit for students who continue to meet loan requirements. Loan requirements include meeting academic requirements with their 4-year educational institution.

“Although we are recovering from the pandemic, it had a huge impact on college enrollment, and we want to be a part of the solution,” says Hawaii Central FCU President Drake Tanabe. “Our keiki are our future, and we need to set them up for success.”

According to the 2021-2022 year-end report by P-20, college enrollment remains below pre-pandemic levels. The report states, “Public-school graduates who enrolled in college was down from a pre-pandemic level of 55% to 51%”.

P-20 is a statewide partnership led by the Executive Office on Early Learning, the Hawai`i State Department of Education, and the University of Hawai`i System that works to strengthen the education pipeline from early childhood through postsecondary education and training with data-informed decision making, advocacy, policy coordination and shared action.

College Bundle

College students away from home and their families may want to consider our College Bundle as well. The College Bundle is a host of products and services designed to keep students connected with mom and dad, making it easy for parents to ensure their child is prepared, financially, to meet day-to-day expenses as well as address emergencies as they arise. Video Banking Specialists are available to get families started with the College Bundle, which includes:

  • Central Savings
  • Central Checking with Debit Card (Apply to see if you qualify)
  • VISA Share Secured Credit Card (Apply to see if you qualify)
  • Shared Branching (5,000+ locations nationwide)
  • NO SURCHARGE FEE – ATM Access (30,000+ATMs nationwide)
  • Online & Mobile Banking with Mobile Check Deposit

Those interested in the College Bundle may also come into one of our branches for more information and to get started in person.

View Recent Press Release


View Press Release

With Filipino Americans representing a significant segment of the Hawaii Central Federal Credit Union (Hawaii Central) membership and as a part of an organizational commitment to diversity, the Credit Union recently established its premier Filipino Community Relations Team to help meet needs within the Filipino community. In addition to being highly skilled and having an in-depth knowledge of Hawaii Central’s products, services and benefits, members of the Hawaii Central Filipino Community Relations Team speak Tagalog, Ilocano and Visayan.

The team recently participated in the Flores de Mayo Filipino Fiesta, held at the Filipino Community Center in Waipahu on May 6, 2023. The Hawaii Central tent was frequented by visitors throughout the day, including Councilman Augie Tulba and US Representative Ed Case. Visitors to the tent received valuable information on our low rates and had a chance to try their luck at winning various prize giveaways.

“We are honored and pleased to be here, celebrating the traditions, culture and heritage of the Filipino community,” said Filipino Community Relations Officer Engie Pagaduan. Actively involved with the United Filipino Council of Hawaii, Pagaduan has attended the celebration since its advent in Hawaii. Pagaduan said the Filipino Community Relations Team “was formed to help the Filipino community realize their financial goals”. Matda Bautista-Cadiz and Janet Viray work closely with Pagaduan in the branch and said they are happy to be on the team to support her efforts in the Filipino Community on behalf of Hawaii Central.

Under the leadership of Pagaduan, along with other volunteers, the team of ten was passionate about engaging the Filipino community on Oahu. Together, they were available on Saturday to help attendees open new accounts and explain Hawaii Central’s various benefits, products, and services.

As the first financial institution in the State of Hawaii to offer video banking services, Digital Banking Specialist Riza Reyes was on hand to explain how this service helps members keep connected with Hawaii Central in real time while they are globetrotting, maybe even while visiting the Philippines. “With video banking, we can help members, and potential members, open an account, apply for a loan, e-sign certain documents, and of course we are available to answer questions.”

Mortgage Loan Processor Reyna Dallago and Real Estate Loans Administrative Assistant Kimberly Mondejar spent the day connecting with attendees. “The most rewarding thing [about] working at Hawaii Central Federal Credit Union is that helping people is the most important,” said Mondejar. “In our Real Estate Department, we offer the First-time Homebuyer Program.”

Unlike a conventional home loan that requires 20% down, through Hawaii Central FCU’s First-time Homebuyer’s program, dreams of homeownership become a reality with just 10% down. As an added benefit, there is no mortgage insurance required through this program.

Hilda Reyes-Almodova, Kryzel Valdez and Donna Badua worked to help attendees, interested in taking advantage of the benefits and services offered by Hawaii Central FCU, open new accounts on the spot.

Among the services that interested attendees was Hawaii Central’s ACH (Automated Clearing House) on demand service. “ACH on demand service allows our members to actually access pending funds, pending credit funds, that otherwise would have taken 1-2 business days to post. It’s not just payroll credits, but its for any type of credit,” said KJ Bayawa, Accountant, and accredited ACH professional.

There were lots of giveaways at the Hawaii Central booth, and visitors who spun the wheel were qualified to enter a raffle in one of four drawings for a $50 VISA gift card.

“We recognize our community is diverse in culture and needs and we are intent on providing innovative products and services,” said President Drake Tanabe. “In addition to Tagalog, Ilocano, and Visayan, we have staff who speak Samoan, Spanish, and Palauan.”