LIHUE — Small, locally operated credit unions provide personal service.
All locally founded, the island’s six credit unions serve only Kauai. With more than 55,000 members and over 50 community volunteers on their boards and committees, the total assets of locally born Kauai credit unions is $800 million combined.
The island’s largest federal credit union — Kauai Community Federal Credit Union, founded in Kapaa in 1954 by pineapple farmers and recently rebranded as Gather FCU — currently has assets totaling $450 million with about 32,000 members and 15 community volunteer leaders.
Another popular Kauai credit union — Kauai Government Employees FCU founded by government employees in 1947 — now has 7,000 members, 15 community leaders and $115 million in assets.
Kauai’s local credit unions continue to contribute to community connections with Financial Literacy programs, food drives, building programs specific to the island’s needs, school programs and more.
Other credit unions on the island include Garden Island FCU, founded in 1938 by Lihue Sugar Plantation, with 7,753 members and $96 million in assets. McBryde FCU, also founded in 1938, has 3,500 members and $91 million assets; and Kauai Teachers FCU, founded that same year by Kauai teachers, has 2,300 members and $31 million in assets.
According to Kekaha FCU’s quarterly newsletter, Kui Ka Lono, members can benefit from a credit union merger with more products, better rates, convenience (like extended call center hours), advanced technology and special services with a larger numbers of employees.
Kekaha FCU will be offering the IRS-sponsored VITA (Volunteer Income Tax Assistance) for those who meet specific criteria at King Kaumualii Elementary School Saturday from 9 a.m. to 2 p.m.
