Hawaii Central Federal Credit Union is among this year’s honorees for Pacific Business News’ annual Inno Fire Awards. To view the other winners, click here.
Hawaii Central Federal Credit Union is a member-owned, not-for-profit financial institution on Oahu. It serves nearly 17,000 members with more than $305 million in assets. Founded in 1937, the credit union has continued to integrate tech into its services, including launching a virtual branch with video banking. Video banking was added to the Hawaii Central FCU suite of digital services during the Covid-19 pandemic to protect kupuna and at-risk members, and the credit union conducted outreach to educate these populations on the service.
Responses from Gary Nakata, executive vice president
What’s been your organization’s biggest accomplishment to date?
Our biggest accomplishment to date is having built a foundation firmly rooted in a culture of service that is responsive to the community we serve. Besides demonstrating that our members are at the heart of every decision by forging a path forward through the implementation of products and services — such as video banking and additional insurance on deposits — this year is the second year in a row that we are recognized as a Best-In-State credit union by Forbes. The Forbes award is confirmation of and testament to our commitment to our community. Forbes partnered with Statista to perform an independent survey of approximately 26,000 consumers to rate financial institutions in terms of trust, terms and conditions, branch services, digital services, customer services, and financial advice. Rankings also took online reviews and ratings into account.
What about your business excites you the most right now?
As technology advances, there are opportunities for us to better serve our members who are continually faced with the ever-increasing demands of day-to-day life. Hawaii Central Federal Credit Union is excited about expansions around our video banking services. Essentially, it’s like FaceTime between our members and our Credit Union staff. Whether from the comfort of their own home or clear across the globe, more and more, members are electing to conduct their transactions via a secure video feed. As announced by PBN in early 2022, Hawaii Central Federal Credit Union forged the path forward as the first financial institution in the state of Hawaii to offer video banking services. We are proud to stand alone in this category and provide relief to members who are struggling with transportation limitations or simply looking for convenience. Through video banking and our suite of digital services offered by our virtual branch, members save time and money with the ability to transact from anywhere. Still, the best part about video banking is being greeted by the same friendly faces of the staff who go above and beyond to serve members every day.
How do you go about cultivating a culture of innovation within your business?
We know that culture is cultivated through a recognition of talent and fostering the strengths of our employees to build a committed workforce. We are committed to promoting from within and investing in employees who show promise through their eagerness to learn and dedication to our organization. We also make a point of giving our younger employees a seat at the table when it comes to making decisions about the future, in the knowledge and faith that they are our future.
