2005 - Hawaii Community Federal Credit Union

The Vision:
Making dreams
reality.
2005 Annual Report
Ownership counts.
2005 — A year of
Contents.
2
Introduction
Board of Directors, Executives,
Branch Managers, Managers & Volunteers 7
Agenda
8
Standing & Special Rules
8
Minutes
9
Chairman’s Report
10
President’s Message
11
Secretary/Treasurer’s Report
12
Supervisory Committee Report
13
Statement of Financial Condition
14
Statement of Income & Expenses
15
In the beginning.
“There is nothing
like a dream to
create the future.”
— Victor Hugo
As 2005 dawned, everyone at Hawaii Community
Federal Credit Union knew it would be a big year for
us — the year that our long-awaited branch and
administrative offices would finally become reality.
When planners, including Credit Union President and
CEO Mike Asam, first sat down to envision a new
facility for the membership a decade ago, they kept
some significant goals at the forefront:
• The building needed to be at least 18,000 square
feet (the completed building is 26,000);
Page 2
building.
• It would need a functional style and design that
would accommodate growth without becoming
dated;
• Through wise capital management, the building
would need be paid for with cash and not
financed.
• The facility would need to be able to draw a
large amount of traffic and stress away from the
Kailua branch, while providing a more convenient
location to members in South Kohala;
Just as importantly, the planners of the new facility
wanted to create a work environment that was first
rate in efficiency and comfort from an employee
perspective. This included plans for a staff lounge
large enough to seat 40 employees at once, with
an outdoor lanai component. It needed restrooms
• The design would make a statement to other
financial institutions on the island; and
that would adequately accommodate the more than
80-percent female staff. Also, the workstations were
designed to provide some measure of privacy while
encouraging productivity.
As we sit down to celebrate the 69th Annual
Membership Meeting and Banquet, we’re happy to
report that these dreams have become reality and
the new branch and administrative offices are now
open for business.
Page 4
Location, location location.
It’s all that. Plus state of the art.
The Kaloko location was chosen for several practical
reasons. First, it provides members with access to the
building from a mauka/makai direction. The stoplight
at Hina Lani Street and Queen Ka‘ahumanu Highway
intersection makes access much more convenient.
The location also positions the Credit Union for the
long term, accommodating the high growth that is
expected in this area of Kailua-Kona.
The new building offers all the latest in financial
services technology, including biometric security
for the safe deposit boxes and the largest number
of drive-up ATMs and high-tech, drive-up tellers
on the island. A 24/7 Call Center ensures that
every member’s phone call to our Credit Union
is answered by a live representative and not a
computerized voice.
The finished result.
What’s more, the facility is engineered to provide
a safer, cleaner community for us all. The energyefficient, environmentally sound building is equipped
with a state-of-the-art aerobic wastewater system
and aqua guards in all drywells that prevent leakage
of sediments or pollutants from the storm drains
into the ground water. This attention to detail helps
protect the Kaloko-Honokohau fishponds at the new
national park, located directly makai of our facility.
We opened the building unofficially at the end
of 2005, (officially on February 20, 2006) and
the reaction has been extremely positive from
members, staff and the community. We’re proud
that the building project has transformed some
very complex ideas into reality, materializing our
vision of a successful place to work as well as a
convenient location for members to conduct their
financial business.
Finally: We proudly present our new branch and
administrative offices at Kaloko. A functional and
attractive credit union center that will help us to
meet all of our corporate objectives for many years
in the future. We call it the John Y. Iwane Credit
Union Center in honor of the service of our longtime
Chairman of the Board of Directors. It’s a gift—from
our membership—to our membership.
“To accomplish great things,
we must not only act,
but also dream; not only plan,
but also believe.”
— Anatole France
Page 6
Board of Directors.
John Y. Iwane
Chairman
Virginia L. Squier
Vice Chair
Edwin T. Ueda,
Secretary/Treasurer
David B. Kaapu,
Director
William F. Mielke
Director
Kenneth T. Ono
Director
Peter C. Thoene
Director
Frank Thompson
Director
Ross Wilson, Jr.
Director
Volunteers.
Executives.
Torun B. Almer
Michael Asam
CCUE, President/CEO
Rodney Watanabe
CCUE, Executive Vice President
Dean Uemura
CCUE, Executive Vice President
Mel Ventura
CCUE, Vice President Lending
Mitsugi Inaba
Francis I. Oue
Diane S. Quitiquit
Branch Managers.
Ichiro Shikada
Shawn S. Suzuki
Emi Takauye
Glenn G. Uchimura
Tim Ashcraft
CCUE, Kaloko Branch Manager
and Assistant Vice President
Laura DeBoer
Kailua-Kona Branch Manager
Lakme Nishie
Kohala Branch Manager
Kenneth Sugai
Kealakekua Branch Manager
Arnold Kanai
Support Services Manager
Linda Meyer-Smallwood
Information Systems Manager
Patty Okahara
Marketing Manager
Managers.
Air Perreira
Human Resources Manager
Agenda.
Standing & Special Rules.
Hawaii Community Federal Credit Union
69th Annual Meeting Membership
1. The most recent edition of Robert’s Rules of
Order Newly Revised shall govern the meeting
in all cases not covered by applicable law, the
bylaws, or these standing rules.
Saturday, April 8, 2006
Hilton Waikoloa Village, Waikoloa, Hawai´i
1. Call to Order (After Determination of a Quorum)
2. Appointments
a. Appointment of Recording Secretary
b. Appointment of Parliamentarian
3. Welcome and Introductions
4. Conduct of Business
5. Approval of Minutes
6. Reports of Officers
a. Chairman’s Report
b. President’s Report
c. Secretary/Treasurer’s Report
d. Supervisory Committee Report
7. Elections
8. Unfinished Business
9. New Business
10. Adjournment
Page 8
2. The agenda as distributed in the meeting packet
shall be the official agenda for the meeting.
3. The Chairman shall appoint the Parliamentarian
and the Recording Secretary.
4. The Board of Directors is authorized to approve
the minutes of the annual business meeting.
5. Only members of Hawaii Community Federal
Credit Union may participate in deliberations
and voting during the business meeting.
6. No smoking of any kind is permitted in the
meeting room.
7. The Chairman shall be addressed as “Mister
Chairman.”
8. Members desiring to speak must stand and
address the Chairman from the microphone.
Please state your name each time for the
official record of the meeting. You must use the
microphone so that everyone can hear.
9. Long and complicated motions must be in
writing and delivered to the Chairman, signed
by the maker and seconder. This will help avoid
confusion and ensure that everyone knows the
exact wording of the motion.
10. Discussion is normally limited to the motion
being considered. Therefore, please do not start
a long discussion unless a motion is already
pending for consideration.
11. The debate limit shall be two minutes per
speech, two speeches per debatable motion per
day. Debating time is not transferable.
12. All remarks are to be directed to the Chairman,
not directly to other members. Personal attacks,
vulgarity, or offensive language can result in
loss of debate privileges.
13. No videotaping or other electronic recording
is permitted (except for production of the
minutes) during any of the proceedings unless
first approved by the Board.
14. Cell phones, pagers, and other computer devices
shall be turned off or placed in “silent mode.”
2005 Business Session Minutes.
Call to Order. The 68th Annual Meeting of Hawaii
Community Federal Credit Union (HCFCU) was called
to order by Chairman John Y. Iwane at 5:36 p.m.
Chairman Iwane noted that more than 15 members
were present at this meeting. A quorum was
established, pursuant to Article 4, Section 5 of the
Bylaws. [Recording Secretary’s Note: The page
number references pertain to HCFCU’s 2004 Annual
Report, except as otherwise noted.]
REPORTS OF OFFICIALS.
Chairman’s Report. Chairman Iwane reviewed his
report printed on page 6 of the Annual Report. He
briefly discussed the commencement of the Kaloko
facility construction, the Credit Union’s growth to over
30,000 members, and the search for a suitable site to
build a branch in South Kohala. He also mentioned the
accolades the Credit Union received in the past year.
Appointment of Parliamentarian. Steve
Glanstein was appointed Parliamentarian
President’s Report. President Michael Asam
discussed his report printed on page 7 of the Annual
Report. He seconded everything Chairman Iwane
spoke about and reminded everyone that the new
building recognizes that West Hawaii is our home.
Welcome & Introductions. Chairman Iwane
welcomed the members and introduced HCFCU’s
officers and directors.
Secretary/Treasurer’s Report. Secretary/
Treasurer Edwin T. Ueda reviewed his report printed
on page 8 of the Annual Report.
Standing and Special Rules. The standing and
special rules on page 4 of the Annual Report were
permanently adopted on May 15, 2004.
Supervisory Committee’s Report. Supervisory
Committee Chair Diane S. Quitiquit reviewed the
Supervisory Committee’s report printed on page 9
of the Annual Report. She noted that copies of the
Independent Auditor’s Report prepared by McGladrey
& Pullen, Certified Public Accountants, were
available on each table for the membership to review.
Appointment of Recording Secretary.
Stephanie Place was appointed Recording Secretary.
Approval of the 67th Annual Meeting Minutes.
The minutes of the 67th Annual Meeting on page 5 of
the Annual Report were approved by the Board of
Directors in accordance with the adopted standing rules.
Elections. As chairperson of the Elections Committee,
Vice Chair Virginia L. Squier reported that the Elections
Committee submitted the names of three nominees
for the three vacancies on the Board of Directors.
On January 21, 2005, the Notice of Elections and
Nominations for Board of Directors was mailed to
all members as required by the bylaws. Members
were given an opportunity to submit nominations by
petition until February 25, 2005. No petitions were
received. Therefore, Chairman Iwane declared the
three nominees were elected by acclamation.
The directors elected to fill three-year terms were
David B. Kaapu, Edwin T. Ueda and Ross Wilson, Jr.
Unfinished Business. There was no unfinished
business.
New Business. None.
Adjournment. The 68th Annual Membership
Meeting of Hawaii Community Federal Credit Union
adjourned at 6:02 p.m.
John Y. Iwane, Chairman
Edwin T. Ueda, Secretary/Treasurer
Stephanie Place, Recording Secretary
Chairman’s Report.
For Hawaii Community Federal Credit Union, the
year 2005 was highlighted by the completion and
activation of the new Branch and Administrative
office building located in Kaloko Light Industrial Park,
just north of Kailua-Kona.
Construction began in May, 2004 following a groundbreaking ceremony, and branch and administrative staff
began moving in December 2005. The facility became
fully operational in January, 2006. Members will find
that the new facility was designed with convenience
and comfort in mind as well as safety and security.
The branch portion features comfortable spacious areas
where members can make it their one stop place for
all of their financial service needs. We urge all to
utilize the services and products offered to the fullest.
The year 2005 was another good one for our Credit
Union, as our major financial measurements were
favorable, and the year ended financially in a very
positive note. Raddon Financial Group, a provider
of marketing research for 576 credit unions, for
the fourth consecutive year, rated HCFCU as one
of its high-performance credit unions. We are one
of 58 credit unions so designated, and again this
is a reflection of our organizational and financial
strengths. A well-deserved and well-earned credit to
every member/owner of our financial cooperative.
Over in Waimea, the search for property suitable for
a branch office in that area was unsuccessful thus far.
Page 10
Staff actively followed several leads, but will
continue the search. Hopefully we will be successful
in the near future. Members in the Waimea area
have been patient, and we ask for your understanding.
The membership reached and exceeded the
30,000 mark in early 2005. The accelerated growth
trend experienced in recent years is definitely
expected to continue. In anticipation of this trend,
expansion strategies have been included in our
corporate plans. More branching into other areas
of our field of membership as needed is definitely a
possibility, and is being currently considered in a
proactive manner.
As the year ended, HCFCU has continued to perform
well. The addition of the new branch and administrative
offices will greatly allow enhancement of our ability
to deliver service to members, especially in the North
Kona area. At the same time the new facility offers
a well-deserved and favorable work environment for
the branch and administrative staffs.
As we begin another Credit Union year, we take this
opportunity to recognize the membership for your
support and participation, and ask that as a group
and individually as well that you continue to support
your Credit Union with your active participation.
John Y. Iwane, Chairman
President’s Report.
It’s been a memorable 2005 for Hawaii Community
Federal Credit Union. The accomplishments were many
and significant, starting in January. That’s when we
achieved the 30,000-member milestone. In March,
we installed cash dispensing machines at all teller
windows to enhance teller operating efficiencies. The
68th Annual Membership Meeting & Banquet was
held at the newly renovated Sheraton Keauhou Bay
Resort & Spa in April, and was attended by more
than 700 members. We began offering members the
benefits of Courtesy Pay for their checking accounts
in May. We also conducted a $25,000 sweepstakes
on our Web site for members who signed up for our
home banking and Bill Payer solution. In September,
a new product called the Premium Saver Club was
introduced to those members who wanted higher
yields on their Money Manager accounts.
The year 2005 also marked a milestone in the level
of our support for organizations that help improve the
quality of life in our community. We were honored to
be recognized as a Gold Level Donor by the Hawaii
Island United Way (HIUW), an achievement made
possible when an organization has at least 90%
employee participation with an average of $85 or
more in donations per employee, and we helped
to raise more than $10,000 for the Hawaii Island
United Way. With the help of local merchants, the
Credit Union held another successful Market Day
on October 20, 2005, which raised $12,650 for
the Friends of the Children’s Justice Center of West
Hawaii. We were also heavily involved in the Kona
Lions Club fundraiser called the “Lions Feast.”
Proceeds of this fundraiser allowed the club to make
a $5,000 donation to the Kona Community Hospital
Foundation and a $1,000 donation to the Hawaii
Eye Bank. Other funds will be used to build and
deliver picnic tables to many public beaches, parks
and schools in West Hawaii. Hawaii Community
Federal Credit Union also made standalone corporate
donations to the Kona Community Hospital, YMCA
and the Kona Historical Society.
We continued our corporate sponsorship for the Kona
Coffee Festival, donating staff time as well as cash
to the event. In addition, we were a sponsor of the
2005 Merrie Monarch Festival, which honors our
Hawaii heritage in hula.
Of course, our biggest “event” for the year was the
construction of the new branch and administrative
offices in Kaloko. While the construction was in
progress, the Credit Union busily recruited, interviewed and hired 25 new staff members, which, at
times, proved challenging in today’s tight job market.
This included the 17 employees for the Kaloko branch
and the seven employees for the new Call Center.
Staff in these positions have direct contact with
members. Also, in conjunction with the construction,
the Credit Union spent enormous amounts of time
coordinating the move of our core computer system
from the Kailua branch to the Kaloko facility. We
also consolidated the separate phone systems we
had for each branch into a single system for the
entire organization.
As I look back, I must say that 2005 was an
extremely productive year for the Credit Union. This
level of productivity and success is possible only
with the support and dedication of the volunteer
Board of Directors and Committee Members of
Hawaii Community Federal Credit Union. They have
done an outstanding job for the members, offering
excellent guidance and assistance throughout the
year. I also want to acknowledge the hard work
and professionalism of the Credit Union staff, who
endured an event-packed, and at times, challenging,
year and continued to deliver exceptional service to
our member/owners. Finally, to the member/owners
of the Credit Union, I want to thank all of you for
using our products and services, for your loyalty, and
most all, for your trust in Hawaii Community Federal
Credit Union.
Michael Asam, CCUE, President/CEO
Secretary/Treasurer’s Report.
Page 12
I am pleased to report that Hawaii Community
Federal Credit Union had another excellent year
in 2005. Total assets increased by almost $16.9
million to $285.5 million, up 6.3%; share deposits
were up by over $17.5 million to $252.4 million,
up 7.5%; and loans were up 11.4%, or by $21.1
million to $206.6 million.
through the heart of Kailua-Kona on almost any given
day. The new Kaloko branch offers many members
the convenience of not having to drive into town to
conduct financial transactions. With the added benefit
of closing at 6:00 p.m. on Mondays through Fridays,
there is no need to rush after work just to deposit a
check or make a payment.
We continued to have very strong loan growth during
2005 as members took advantage of the growing
equity in their homes, and increased home equity
loan balances by $10.4 million. Auto loans surged by
more than $6.2 million as auto manufacturers waged
a fierce competition to entice consumers to buy their
products. Mortgage loans increased by $4.5 million,
but volume has slowed dramatically from last year.
Although mortgage rates are still relatively low, the
high cost of real estate makes it difficult for many
people to afford to buy a new home.
Net worth growth at 10.4% has more than kept pace
with asset growth of 6.3% during the year. The yearend net worth to total assets ratio, a key component
in measuring the financial soundness of the Credit
Union, rose from 10.00% at the end of 2004 to a
respectable level of 10.5% at the end of 2005.
Net income of $3.2 million in 2005 was about
the same as last year despite hiring more than 30
new staff, most for the new Call Center and branch
in the newly constructed administrative building
and branch at the Kaloko Light Industrial Park. The
purpose of this substantial investment in the building
was to provide more member convenience with
our second full- service branch in North Kona and
the consolidation of operations and administrative
staff that were housed in various locations. Kona
is growing so rapidly and the increased traffic from
that growth makes it almost unbearable to drive
In 2005, we have seen the Federal Reserve raise the
federal funds rate a total of eight times. Although
this key short-term lending rate has increased, longterm rates such as the rate for 30-year mortgage
loans have barely moved. While low interest
rates are beneficial for borrowers since it makes
borrowing more affordable, it presents a challenge
for us in managing the rates we charge on loans,
the dividend rates we can pay on shares and the
rates that we receive on investments. This asset
liability management presents a delicate balancing
act between getting our members the best rates and
terms and positioning the Credit Union to withstand
the effects of rising interest rates in the future. We
carefully monitor this situation using a sophisticated
asset liability management reporting tool and we are
proactive in making adjustments.
Supervisory Committee Report.
The ratio of non-performing loans increased from 0.36%
at the end of 2004 to 0.42% at the end of 2005.
While this is a slight increase, our continued emphasis
on strong underwriting and collection efforts has
enabled us to continue to achieve strong financial
performance. Another notable trend this year was the
increase in membership from 29,932 to 31,640, a
net increase of 1,708 new members or 5.7%.
We achieved a significant milestone in 2005 when
we welcomed our 30,000th member into our Credit
Union. Sometime in 2006, we will be achieving
another significant milestone when we surpass
$300 million in assets. With the continued support
of all of our members, we will continue to grow
and succeed together.
If you would like more information on the Hawaii
Community Federal Credit Union’s financial
performance, please visit our web site at www.
hicommfcu.com and click on “About Us” and then
click on “Financials.”
I would like to acknowledge the efforts of the Board
of Directors, Management and Staff who keep your
Credit Union financially strong, growing and healthy.
I would also like to recognize the support of you, our
members, because without your support, we would
not have been able to achieve the numbers described
above. It was an honor serving you this past year.
Edwin T. Ueda, Secretary/Treasurer
The Supervisory Committee of Hawaii Community
Federal Credit Union is charged with selecting and
engaging the audit firm that will perform an opinion
audit of the Credit Union and the two internal control
audits that are performed each year. The committee
also responds to inquiries from members.
The committee engaged the services of McGladrey
& Pullen, LLP, Certified Public Accountants for 2005.
They audited the statements of financial condition
of the Credit Union as of June 30, 2005 and 2004
and the related statements of income, retained
earnings, and cash flows for the years then ended.
They conducted their audit in accordance with
auditing standards generally accepted in the United
States of America. In their opinion, the financial
statements of Hawaii Community Federal Credit
Union present fairly, in all material respects, the
financial position of Hawaii Community Federal
Credit Union as of June 30, 2005 and 2004 and
the results of operations and cash flows for the years
then ended in conformity with accounting principles
generally accepted in the United States of America
with one exception.
The one exception refers to the Credit Union
reporting shares as members’ equity in the financial
statements. In the auditor’s opinion, shares should
be reported as liabilities in order to conform with
generally accepted accounting principles. However,
the Credit Union’s treatment of shares as equity is
consistent with the accounting practices prescribed by
the National Credit Union Administration, the federal
agency that supervises and insures credit unions.
In addition to internal audit consulting services
performed in April 2005 and August 2005 by RSM
McGladrey, Inc., to validate internal controls and
improve procedures, the Credit Union hired its first
full time Compliance Officer in September 2005.
The Compliance Officer is charged with ensuring
compliance with all related laws and regulations
applicable to the Credit Union and has day-to-day
responsibility managing all aspects of operations
compliance. There are many laws and regulations
applicable to Credit Unions and there is especially
heightened emphasis in complying with the Bank
Secrecy Act and the USA Patriot Act in helping
combat money laundering and terrorist financing.
The committee would like to thank the Board of
Directors and Management for their support and
assistance this past year. The committee would also
like to thank the membership for this opportunity to
serve them.
Diane S. Quitiquit, Supervisory Committee Chair
Statement of Financial Condition. (As of December 31, 2005 and 2004)
Current Assets
2005
2004
Cash on Hand & in Bank
Accounts Receivable
$7,996,131
(103,378)
$6,357,151
(64,630)
Total Current Assets
7,892,753
6,292,521
Total Earning Assets
40,249,068
101,923,600
3,239,605
3,395,987
57,796,503
206,604,763
(981,596)
205,623,167
53,943,471
31,997,148
94,485,428
3,100,718
3,375,272
52,519,689
185,478,255
(815,439)
184,662,816
68,307,849
259,566,638
252,970,665
Non-Earning Assets
Page 14
Member Shares
Regular Shares
Share Drafts
Individual Retirement Accounts
Money Manager Accounts
Premium Saver Accounts
Small Business Accounts
Share Certificates
Other Shares
Total Member Shares
Equity
Land
Building (Net)
Furniture & Equipment (Net)
Other Assets
1,710,092
1,773,091
1,116,422
13,395,895
1,710,092
1,861,852
1,040,556
4,701,242
Total Non-Earning Assets
17,995,500
9,313,742
$285,454,891
$268,576,928
Total Assets
Accounts Payable
Dividends Payable
Notes Payable
Total Current Liabilities
Earning Assets
Automobile Loans
Real Estate Loans
Share Secured Loans
VISA Loans
All Other Loans
Total Loans Outstanding
Less Allowance for Loan Losses
Net Loans Outstanding
Investments
Current Liabilities
Regular Reserve
Reserve for Contingencies
Retained Earnings & Net Income
Total Equity
Total Liabilities, Shares & Equity
Statement of Income & Expenses. (For the Years Ended December 31, 2005 and 2004)
2005
2004
$2,921,572
12,163
0
$1,483,531
21,937
5,303,460
2,933,735
6,808,928
78,063,552
28,237,966
13,141,860
68,438,125
8,525,525
2,804,399
46,976,960
6,219,116
70,882,079
23,223,558
12,106,916
81,582,661
N/A
5,981,953
36,061,917
5,050,561
252,407,503
234,889,645
3,926,357
1,500,000
24,687,296
4,241,323
1,500,000
21,137,032
30,113,653
26,878,355
$285,454,891 $268,576,928
Income
Income From Loans
Income from Investments
Fee Income
Other Income
Total Income
2005
2004
$11,635,459
1,582,332
376,497
2,097,960
15,692,248
$10,089,877
1,695,552
282,046
1,319,616
13,387,091
3,107,124
49,559
3,156,683
2,666,040
7,851
2,673,891
12,535,565
10,713,200
3,704,202
1,041,857
235,246
44,997
600,528
1,099,521
487,902
432,719
861,140
400,097
51,342
55,353
63,518
60,370
161,473
9,300,265
3,013,818
924,226
175,966
53,321
534,583
961,663
375,903
351,581
702,251
286,265
50,078
43,593
769
47,218
120,571
7,641,806
0
0
$3,235,300
$3,071,394
Dividends & Interest
Dividends
Interest on Borrowed Funds
Total Dividends and Interest
Net Income before Operating Expenses
Operating Expenses
Compensation
Employee Benefits
Education, Travel & Conference
Association Dues
Office Occupancy
Office Operations
Member Education & Promotion
Loan Servicing
Professional & Outside Services
Provision for Loan Losses
Member Insurance
Federal Examination & Supervision
Cash Over & Short
Annual Meeting Expenses
Miscellaneous Operating Expenses
Total Operating Expenses
Non-Operating Gain (Loss)
Total Net Income
Kailua-Kona Branch
75-159 Hualalai Rd., Kailua-Kona, HI 96740
Ph: 808.329-3148 Fx: 808.329.9288
Kaloko Branch
73-5611 Olowalu St., Kailua-Kona, HI 96740
Ph: 808.930.7700 Fx: 808.930.7679
Kealakekua Branch
81-6631 Mamalahoa Hwy., Kealakekua, HI 96750
Ph: 808.322.9666 Fx: 808.322.6537
Kohala Branch
54-396 Union Mill Road, Kapaau, HI 96755
Ph: 808.889.6214 Fx: 808.889.5884
Paauhau Branch
44-151 Paauhau St., Honokaa, HI 96727
Ph: 808.775.7285 Fx: 808.775.7286
Administrative Offices at Kaloko
73-5611 Olowalu St., Kailua-Kona, HI 96740
Ph: 808.930.7700 Fx: 808.322.0890
Hawaii Island:
Call Center: 930.7700 CALL24: 329.9440
Off-Island Toll-Free:
Call Center: 1.800.514.2328 CALL24: 1.800.303.9440
www.hicommfcu.com
Top: (Left to right) Robert Gentzel, board
president, Debbie Deroos, program director
and Alice Daniel, program coordinator, all
of the Friends of Children’s Justice Center of
West Hawaii, receive check from Rodney Watanabe,
executive vice-president, Member Services, Hawaii
Community Federal Credit Union.
Center: Market Day offerings include farmers
market favorites such as fresh veggies.
Bottom: Jerry Cousin, left, secretary of the board
of directors and vice chair of the 2004 Hawaii Island
United Way annual campaign receives check from
HCFCU President and CEO Michael Asam. The total of
$13,500 represents the credit union’s employee
pledges, donations and a matching company donation.
Ownership counts.