HONOLULU–West Oahu Community Federal Credit Union’s (WOCFCU) members have voted in favor of a merger between their organization and Pearl Hawaii Federal Credit Union (PHFCU). Once merged, the combined financial institution will have nearly 30,000 members and $380 million in assets.
“It is an opportunity to combine our resources and form a partnership with a credit union with similar values and vision,” Neal S. Takase, President and CEO of Pearl Hawaii Federal Credit Union said. “The result is a stronger credit union that will deliver valued financial services to the island of Oahu.”
Pearl Hawaii FCU said it is dedicated to continuing financial services to the leeward coast and West Oahu Community. Pearl Hawaii FCU will retain all of WOCFCU’s existing employees and the newly opened Waianae location. WOCFCU’s Ewa branch will be consolidated into Pearl Hawaii FCU’s existing Ewa Town Center location
“This merger will allow us to enhance the products and services that we offer to our loyal members and it will allow us to increase the benefit package that our dedicated employees deserve.” John Furtado, President and CEO of West Oahu Community Federal Credit Union stated. “We are extremely happy about being able to serve a greater number of West Oahu families with expanded product offerings and financial services, branch locations, conveniences, and competitive rates.”
By April 2018, the credit unions are expected to be fully integrated, enabling all members to access to any of the available six Oahu branches for their financial needs. The next step is to fully integrate and align operations, delivery channels, products, and policies. During the integration period, both credit unions will continue to offer the same products and services as they have in the past.