Na Hui Elima Credit Union adding Native Hawaiian members
As any regular readers know, I have long been a
proponent of
Bumpy's plan
to establish a Native Hawaiian Bank.
I missed this article in the Pacific Business News last month and thought it worth bringing to your attention even belatedly (h/t to Derek).
The Association of Hawaiian Civic Clubs, after considering starting its own credit union, decided it would be easier to join an existing credit union, so Na Hui Elima Federal Credit Union in Honolulu is seeking to expand its Native Hawaiian membership, "increasing competitive pressures on Hawaii banks" and "enabling the credit union for the first time to look at tapping into such consumer niches as credit cards and home-equity lines of credit." They are also looking to change the name next year from Na Hui Elima to the Prince Kuhio Federal Credit Union.
There are important differences between what a credit union and an actual bank can do, and this does not diminish the need for a Native Hawaiian Bank, but it is worth being aware of for those who may be needing the services of a credit union.
I missed this article in the Pacific Business News last month and thought it worth bringing to your attention even belatedly (h/t to Derek).
The Association of Hawaiian Civic Clubs, after considering starting its own credit union, decided it would be easier to join an existing credit union, so Na Hui Elima Federal Credit Union in Honolulu is seeking to expand its Native Hawaiian membership, "increasing competitive pressures on Hawaii banks" and "enabling the credit union for the first time to look at tapping into such consumer niches as credit cards and home-equity lines of credit." They are also looking to change the name next year from Na Hui Elima to the Prince Kuhio Federal Credit Union.
There are important differences between what a credit union and an actual bank can do, and this does not diminish the need for a Native Hawaiian Bank, but it is worth being aware of for those who may be needing the services of a credit union.
Posted: Fri - December 22, 2006 at 12:06 PM
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