(November 21, 2011 – Hilo, Hawaii) On Thursday, November 10, Hawaii First Federal Credit Union, a community development credit union (CDCU) member of the National Federation of Community Development Credit Unions (Federation), blessed its second Community Resource Center on the Big Island of Hawaii. The event was attended by Federation Director of Community Development Investments, Terri J. Fowlkes. The blessing was performed by Kumu Koh’okele Crabbe, a local religious leader.

Located next door to the CDCU’s Hilo branch, the new Hawaii First Community Resource Center opened to the public on Monday, November 14 and provides no-cost resources to any resident of the County of Hawaii.  

Specific offerings include financial education, including personal money management, debt solutions, and credit repair; Individual Development Accounts (IDAs) for home purchase, higher education or financing a small business; assistance to job seekers and employment training; small business startup assistance and development; and foreclosure prevention assistance. The center also boasts a computer lab and resource library open to the community.

Federation Director of Community Development Investments Terri J. Fowlkes (on left) and Hawaii First FCU President/CEO Laura Aguirre, at the event.

“We are very excited for this expansion,” said Laura Aguirre, President & CEO of Hawaii First FCU. “We couldn't have done this without the continued support of the CDFI Fund, the National Federation of Community Development Credit Unions and the Office of Hawaiian Affairs.”

“Our team worked long and hard to make this a reality for our community members located in rural areas on the Hilo side of the Big Island. The resources provided through the Hawaii First Community Resource Centers are critical tools to help our members and our community to get ahead, and it is comforting to know that community members will not have to travel such long distances to access these vital services,” Aguirre added.

The credit union opened its first Community Resource Center in Kamuela in 2008, which proved to be a huge success, providing much-needed tools and resources for members of the credit union as well as the community at large. The first Community Resource Center was opened with funds received from a CDFI Fund award, while the new Community Resource Center in Hilo was opened with CDFI funds as well as the proceeds of a secondary capital loan from the Federation.

Hawaii First FCU staff with local religious leader, Kumu Koh’okele Crabbe (at center), following the blessing ceremony.

Federation Director of Community Development Investments, Terri J. Fowlkes, was glad to see the Federation’s funds at work. “With Hawaiian communities facing crippling unemployment due to a decline in tourism, gentrification of native communities and rising housing costs that often displace Native Hawaiians, Hawaii First FCU and the Hawaii First Community Resource Centers have never been needed more,”  Fowlkes said.

Mary Ann Otake, Manager of Hawaii First FCU’s Hilo Branch explained the significance of the new resource center. “We feel very humbled to have been given this great opportunity to share and give back to our communities by providing free access to these valuable resources. In addition to our supporters, we have to thank our CEO, Laura Aguirre for creating an environment of integrity and innovation that lead to making this dream of hers into a reality.”

Hawaii First Federal Credit Union is a $40 million-in-assets CDCU serving over 6,500 members on the Big Island of Hawaii out of three branch locations, the credit union’s main branch located in Kamuela, with two additional locations in Hilo and Waikoloa.

The Hawaii First Community Resource Centers are 501(c)(3) affiliates and charitable arms of the credit union. They are open to all credit union members, and to the community at large.

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About Hawaii First Federal Credit Union: Hawaii First Federal Credit Union was federally chartered as Kamuela Community FCU on April 4, 1956 as a group of 36 neighbors and friends held in a meeting to discuss the organization of a credit union. The purpose they envisioned for the credit union was to help people to save and to also help those in need.  By the end of 1956 there were 166 members and a total of $12,263 in assets. In January 2003, the credit union changed its name to Hawaii First Federal Credit Union and expanded its field of membership from “persons who lived or worked in the South Kamuela district of the Island of Hawaii” to “persons who live or work on the Island of Hawaii; attend school, worship, perform volunteer services or participate in associations headquartered on the Island of Hawaii’. With the expansion of the field of membership, the credit union has been able to serve a significantly larger number of low-income individuals. Hawaii First FCU is a non-profit, low-income designated, certified Native Designated, CDFI-certified financial institution. Hawaii First FCU has been serving the Hawaiian community for over 54 years. The credit union’s mission is “Empowering our Community by Serving Hawaii First!” Today the credit union has over $40 million in assets. Today the credit union has over $40 million in assets and serves over 6,500 members.

© 2011 National Federation of Community Development Credit Unions.