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In 1954, ten pineapple growers from the Kapaa area got together to discuss ways to improve their financial conditions. Dissatisfied with the lending policies of the local banks, and ineligible to join any of the other credit unions on Kauai, this determined group of farmers pooled $595 of their own savings to start Kauai Community Federal Credit Union. From the beginning, the credit union's goal was "to improve the economic condition of its members and to offer its services to all residents who were not eligible to join the other credit unions on the island."
KCFCU grew rapidly and is now the largest credit union on Kauai and among the ten largest credit unions in the state. With five full-service branch offices in Lihue, Kukui Grove, Kapaa, Waimea and Eleele, our goal is to provide top-notch financial products, services and benefits to every member of the credit union.
Today, Kauai Community Federal Credit Union provides financial products and services to more than 33,600 members in Kauai and Niihau. With assets of over $458 million and combined membership savings exceeding $411 million, Kauai Community FCU is the largest neighbor-island credit union in the state of Hawaii.
Ownership is what distinguishes KCFCU from other financial institutions. Members put their money in a variety of savings accounts, and that money, in turn, is lent to members. After operating expenses and reserve requirements are met, loan income is returned to all members in the form of dividends and comprehensive financial services.
KCFCU is governed by a Board of Directors that establishes and reviews policy. The Directors are credit union members who are elected by the membership and serve without pay. Every member has one vote, regardless of how much he or she has on deposit. At the credit union, there is no select group of shareholders that profits more than anyone else. All members profit — individually and collectively.
KCFCU is federally-chartered and is organized under strict regulatory laws that are monitored and enforced by the National Credit Union Administration, an agency of the U.S. Government. The NCUA insures each member savings for up to $250,000 and member IRAs up to an additional $250,000.