Prizes - Hawaii Community Federal Credit Union

APRIL
2011
In my travels throughout Hawaii Island, and
especially in the communities of Kohala, Honokaa,
Kailua-Kona and Kealakekua, I am reminded time
after time of the economic struggles our members
face from the after effects of the Great Recession.
» Doing More
A publication for the members of Hawaii Community Federal Credit Union.
Owners Count
President’s Message
In This Issue
Go Direct
Federal Benefit Payments to
go Electronic
Page » 2
Suporting our Roots
Kona Coffee Heritage Initiative
HCFCU management and staff are focused this year
on finding solutions: what we can do to better serve
our members and help them through these tough
economic times.
» Doing It Now
A number of changes and projects are already underway to better
understand the financial needs of HCFCU members and to help us better
serve and assist our members. These challenging times call for unique
solutions.
» Committing Resources
Our marketing team is tasked with retooling our marketing plan to broaden
tactics that assist us in meeting these challenges. They are also defining the
resources required to help meet the needs of our members.
Article continues on Page 4 »
Youth Challenge: Money Rocks
Celebrate National Youth Savings Challenge
The National Youth Savings Challenge is almost here and
it’s time to start saving! Come in to any branch between
April 11th and the 23rd to make your money rock with
Hawaii Community Federal Credit Union. Make a deposit
or open an account to receive a fun prize* and be entered
into the grand prize drawing for your age group! The more
times you deposit, the more chances to win**.
Prizes
Age Groups
Prizes
0 - 3
$200 Budget Share Certificate & Little Tikes Rock ‘n Scoot Zebra
4 - 6 $200 Budget Share Certificate & Gigantic Keyboard Playmat
7 - 12
$200 Budget Share Certificate & Portable Karaoke Machine
13 - 18
$200 Budget Share Certificate & $50 Gift Certificate for KBXtreme
NO PURCHASE NECESSARY. *While supplies last. **One entry, per member, per day from April 11 – 23. Come in to any
branch or call 930-7700 for terms, conditions, and early withdrawal penalties regarding the Budget Share Certificate. Little
Tikes and KBXtreme have no affiliation with this contest. Visit www.hicommfcu.com for contest rules.
- Page 1 -
Page » 2
CUNA Degree
Lakme Nishie receives diploma
from CUNA Management
School.
Page » 3
Investment Corner
How to reach retirement goals
and beat inflation.
Page » 3
Board of Directors
Ross Wilson Jr. announces
retirement.
Page » 4
Supporting our roots
Kona Coffee Heritage Initiative
Following the aftereffects of a year-long drought, a tiny beetle known as the coffee bean borer is now
threatening Kona’s stalwart crop. Estimates peg crop loss already at 2% and fear that 25% of the 500-plus
coffee farms in the North and South Kona area are affected. Farming is never easy, and this new pest is a
very serious issue for hundreds of family farmers.
Recognizing our roots are firmly planted in Kona’s coffee lands, Hawaii Community Federal Credit Union
is reviewing plans on how we may be able to assist our coffee farm members.
Details are taking shape, and while it is too early to make an announcement, we are planning to
collaborate with the coffee industry and at-risk members in a meaningful way. David Miyashita in our
marketing department is leading this HCFCU initiative. We are interested in hearing your thoughts on
how HCFCU can help. Give David Miyashita a call at 930-7648 or email davidm@hicommfcu.com.
The founders of HCFCU were Kona coffee farmers and their vision of
growth and prosperity for our community continues to inspire us today.
Go Direct
Federal Benefit Payments to go Electronic
The U. S. Department of the Treasury recently announced that all federal benefit and non-tax payments will soon
be paid electronically. This change will phase out millions of paper checks over the next 2 ½ years.
Americans who enroll for federal government benefit payments – including Social Security, Supplemental Security
Income, Veterans Affairs, Office of Personnel Management and Railroad Retirement Board – on or after May 1,
2011 will receive them only by direct deposit or the government’s Direct Express Debit MasterCard program.
Any person that now receives paper checks for government benefit payments will be switched to direct deposit or
the government debit card by March 1, 2013.
Why is the U. S. Department of Treasury moving to electronic benefit payments?
There are many advantages to electronic payments:
Safer, Easier - It lessens your chances
of becoming a fraud victim. In 2010, an
estimated $93 million in checks issued by
the Treasury Department – including Social
Security and other federal benefit payments
- were fraudulently endorsed.
More Convenient – When you get payments
electronically, you don’t need to visit a
financial institution to cash or deposit a
check to gain access to your money. This
is particularly important to people who are
aging or disabled, or who lack access to
transportation.
Taxpayer savings – With 78 million baby
boomers set to retire in the next 20 years,
replacing all checks with direct deposit
could save taxpayers more than $120 million
annually.
Better for the Environment - Eliminating
paper checks will provide positive benefits
to the environment. For example, 12 million
pounds of paper will be saved in the first five
years alone.
If you are currently receiving benefit payments by paper check, you must switch
to electronic payments before the March 1, 2013 deadline. Switching to direct
deposit is fast, easy and free – just call or visit us today.
- Page 2 -
If you apply for benefits on or after May 1, 2011
then you must choose an electronic payment
option at the time you sign up for your benefits,
If you wish to direct your money into your
credit union account, you will want to have the
following information on hand at the time you
apply for your benefits.
Routing Number: 321379818
Account Number: Contact us to verify
the correct account
number is used.
CUNA Management degree
Address Verification
Congratulations Lakme Nishie!
Lakme Nishie, branch manager of the Kohala branch,
recently received a diploma from the Western Credit Union
National Association (CUNA) Management School (WCMS)
in Pomona, California. The three-year program included
courses in strategic planning, operations, lending, finance,
marketing, human resources, economics , business law,
communications and leadership. A diploma from WCMS
has come to be recognized as a distinction of excellence.
Lakme has worked for HCFCU for six years and holds a
business administration degree from Utah State University.
It is important that we maintain your correct
contact information in our records so we may
stay in contact with you. Please notify us
promptly in writing with any changes to the
address of your primary residence, your mailing
address, and/or your phone number. Change of
address forms can be obtained at hicommfcu.
com in the Forms & Brochures section of the
Resources tab.
Congratulations!
Investment corner:
A Strategy to Pursue Your Retirement Goals and Beat Inflation
Your retirement plan is designed to help you meet two important objectives – beating inflation and pursuing
your retirement savings goals. The challenge is finding the right mix to strive for both.
Why Be Concerned With Inflation?
Technically defined, inflation is the rising cost of goods and services over time. Like termites invisibly
gnawing at the foundation of a house, inflation slowly eats away at the value of a dollar over time.
Inflation can also impact the success of your retirement savings strategy. In order to accumulate
enough money to provide income throughout your Golden Years, you will need to factor inflation into
your strategy. That means your investments will have to earn returns that are higher than the inflation
rate – but how?
Consider Your Asset Allocation Strategy
Asset allocation refers to how you divide your savings among the three main asset classes – stocks, bonds,
and money market instruments. An appropriate asset allocation can offer the potential to help you pursue enough
growth in your savings to both outpace inflation and strive for your goals.*
How Do You Choose the Right Mix?
Choosing the right mix of stocks, bonds, and stable value investments in your retirement plan should be based on your
personal situation. You will need to consider your savings goals, time horizon, and risk tolerance carefully. Consider
talking to a financial advisor about developing an appropriate mix. For more information, contact
Steven R Fassbender CFP®, CLU, LPL Registered Principal.
Securities offered through LPL Financial, Member FINRA/SIPC. Insurance products offered through LPL Financial
or its licensed affiliates. Hawaii Community Federal Credit Union; not a registered broker/dealer nor affiliated
with LPL Financial.
Not NCUA Insured
No Credit Union Guarantee
May Lose Value
* Asset allocation cannot eliminate risk of fluctuating prices and uncertain returns, nor can this strategy
ensure profit or guarantee against loss.
- Page 3 -
Mahalo for Many Years of Service
Long-time Volunteer Ross Wilson Jr. Retires From Board of Directors
After serving the members of the Hawaii Community Federal Credit Union for
nearly 25 years, Ross Wilson Jr. has retired from our Board of Directors.
Wilson served on the Board of Directors in the early 1980s and left the Board
temporarily in 1987 to return in 1991 and he has served continuously until
February 2011. Prior to joining HCFCU’s Board, he also served as a board
member for the Interisland Resorts Federal Credit Union. All told, Wilson has
volunteered his time and business expertise to the credit union movement
for nearly 30 years. Wilson served on the Board with one of our founding
members, Peter Hirata, and the credit union’s longtime Chairman John Iwane as well as CEOs Mitsugi
Inaba, Mike Asam and James Takamine.
“Volunteering for the Hawaii Community Federal Credit Union has been a very rewarding experience
for me. I have always been an advocate of community building,” stated Wilson. “The credit union is in
excellent hands and I am optimistic about HCFCU’s future under the tenure of CEO James Takamine.
I know the entire staff and management of the credit union will continue to assist our community in
Wilson is the owner of Current Events,
a strategic communications agency. He
continues to volunteer in the community
serving on the boards of:
•
•
•
•
•
•
meeting its financial needs and goals.”
President’s Message -
» True To Our Roots
We are also reviewing new loan products
that may better suit member needs and
enable them to endure this protracted
financial downturn. What products and
services do we lack? How can we better
serve our members while being mindful of
maintaining credit quality?
I have been following reports on the coffee
bean borer and its potential to devastate
the Kona coffee industry. Our management
team is reviewing how HCFCU might assist
and partner with the Kona coffee industry to
help our farming families.
Building a stronger community is important
to the members in Kealakekua, Honokaa,
Kohala, Kona and to your credit union.
I have asked our HCFCU team if we are
doing enough on our part. In response,
we are formalizing a meaningful Social
Responsibility Plan to guide HCFCU
participation.
Calendar of Events
Saturday, April 23
Cont. From Page 1
» New Products and Services
» Community Building
West Hawaii Housing Foundation
Friends of NELHA
Ahu’ena Heiau, Inc.
Hawaii Island Community Development
Corporation
Hawaii County Workforce Investment
Board Outreach Committee
He also serves as US Senator Daniel K.
Akaka’s Kona Field Representative.
Starting with our inception in 1936, we
helped our first members get through the
challenges of the Great Depression, and
keep their coffee farms and their families
going. We remain true to our roots and are
here to help our members navigate through
these economic challenges.
74th Annual Membership Meeting &
Luncheon
Hapuna Beach Prince Hotel
11:00 am – 2:30 pm
Info: 930-7700
April 11 - 23
National Credit Union Youth
Challenge
April 24 - 30
Merrie Monarch Festival
Edith Kanakaole Stadium, Hilo
Info 935-9168
Monday, May 30
Memorial Day
Offices Closed
Call Us: 808-930-7700 or 800-514-2328 - 808-329-8192 TTY
CALL24: 808-329-9440
Lost/Stolen Visa: 808-930-7700 or 800-514-2328
800-543-5073 (Afterhours)
For branch locations, rates and eBranch visit us online
www.hicommfcu.com
Email: info@hicommfcu.com