Hawaiian Tel Federal Credit Union
Hawaiian Tel Federal Credit Union is a mid-sized, federally-chartered credit union headquartered in Honolulu, HI. The credit union operates 5 branches in 1 state (Hawaii). It has $514.6 million in assets and roughly 49,000 members.
Hawaiian Tel Federal Credit Union Membership Eligibility
# Hawaiian Tel Federal Credit Union's primary field of membership shall be limited to those having the following common bond:
- Persons who live, work in, worship, or go to school in and businesses and other legal entities located on the Island of Oahu, Hawaii;
- Members of record of Hawaiian Tel Federal Credit Union as of the effective date of the approval of its community charter on June 14, 1999, to include the Island of Oahu, Hawaii;
- Others living in the same household under the same roof;
- Members of their immediate families, including foster & adopted children;
- Organizations of such persons.
About Hawaiian Tel Federal Credit Union
The credit union operated with no paid staff and early volunteers had to sandwich in credit union work with their regular jobs. In 1937, after the first full year of operation, a 6 percent dividend was declared. Two years later in 1939, the credit union expanded to include the Neighbor Islands and dropped the word Oahu from its name.
In 1954, the credit union changed its name to Hawaiian Tel Employees Federal Credit Union. In the following year, after 19 years of operation, the $1 million mark in assets was reached. By 1961, less than 6 years later, assets had risen to $2 million.
The Credit Union expanded services to five days a week in 1975. Share Draft accounts and Line of Credit loans were started in1980 and in 1981 the check disbursement system was augmented by the implementation of cash share withdrawals. This same year also saw the introduction of IRA accounts and Share Card ATM access. Assets were now up to $23.7 million.
During the 1980s, HiTel FCU continued to evolve into a full service provider by keeping quality member service its focal point. Services, products and programs were developed and implemented to meet the growing and changing needs of the membership.
In 1999, HiTel FCU changed its field of membership to serve Oahu's community and their families. HiTel FCU has over 400 Million in assets and over 36,000 members, making it the 6th largest cu in Hawaii. HiTel FCU continues to be guided by its mission statement of, "We are people helping people make their dreams come true".