Aloha Pacific FCU merges with Hawaii Pacific FCU
The Maui News
Hawaii Pacific FCU has merged and become a division of Aloha Pacific FCU, which has a branch in Kahului.
The merger, effective Oct. 1, brings the more than 4,500 Hawaii Pacific FCU members into the Aloha Pacific fold, a news release said last week.
Hawaii Pacific FCU, formerly the credit union of Sears Hawaii employees, is the fourth credit union to merge with Aloha Pacific in the last three years. Last year, OTS Employees and Kekaha (Kauai) credit unions merged and became divisions of Aloha Pacific, maintaining their names and identities. In 2017, Hawaii National Guard FCU was the first to enter into a co-branded merger with Aloha Pacific and continues as a division of Aloha Pacific, the news release said.
With the addition of Hawaii Pacific FCU members, Aloha Pacific’s membership is now more than 60,000 strong with more than $900 million in assets, the news release said.
“Members overwhelmingly voted to approve this merger with APFCU, which brings more products and services to Hawaii Pacific members,” said Mark Yamane, most recently CEO of Hawaii Pacific FCU and now senior vice president and chief financial officer of Aloha Pacific FCU.
He said all employees were retained and are now Aloha Pacific FCU workers.
“Aloha Pacific is excited to welcome members of Hawaii Pacific FCU into the ohana,” said Vince Otsuka, president and CEO of APFCU. “We look forward to assisting them in their financial needs. Our additional branches and wide ATM network will make it easier for members to do their banking.”
Aloha Pacific FCU, founded in 1936 by City and County of Honolulu workers, is the third largest credit union in the state. It has 13 branches, including a branch in Kahului, which will be opening permanently in the Pu’unene Shopping Center in November. The credit union also has a branch in Henderson, Nev.