Hawaii First reaches milestone Credit union celebrates 50 years ADVERTISING By BOBBY COMMAND West Hawaii Today bcommand@westhawaiitoday.com A milestone was reached earlier this month for what many Waimea residents remember as Kamuela Community Federal Credit Union. Hawaii First Federal Credit
Hawaii First reaches milestone
Credit union celebrates 50 years
By BOBBY COMMAND
West Hawaii Today
bcommand@westhawaiitoday.com
A milestone was reached earlier this month for what many Waimea residents remember as Kamuela Community Federal Credit Union.
Hawaii First Federal Credit Union kicked off its celebration at its 50th annual membership meeting on March 4, a half century after nine Kohala paniolo and farmers with similar interests formed the credit union.
“This year’s meeting was especially dedicated to the founders of Kamuela Community FCU, for if it weren’t for them, Hawaii First FCU would not be here today,” said Mary Ann Bruno, spokeswoman for Hawaii First Federal Credit Union.
Attending the meeting was Masakichi Masaki, who was honored with all the others who have been members for the last 50 years and presented with a gift from the credit union in appreciation for their loyalty.
“We were blessed at the presence of one of our founders, as well as family members of other founders who are not here with us today,” said Bruno.
In 1956 Masaki was joined by Thomas Hamada, Lloyd Kaneshiro, George Simeon, Minoru Matsuura, Robert Wilcox, Yutake Kimura, Akira Kawasaki and Masaru Takamoto to carry out their vision.
“They decided to form the credit union rather than approach established lenders,” said Bruno. “It was to provide the people of Waimea financial assistance and to help people save money.”
When it was initially opened, the credit union was operated a few days a week behind the small family-owned Sakamoto Appliance Store and offered share accounts starting with just $5, with a couple volunteers working.
Hawaii First is now a $34 million, full-service financial institution. Bruno said the credit union has 8,000 members, all of who qualify by being residents of the Big Island. They have access to such services as Department of Hawaiian Home Lands construction loans, Patient Payment loans and Youth Activities loans.
The new building sits on the site of the original credit union, which changed its name in 2004. It also has a branch office in the Waikoloa Highlands Shopping Center.
